Coinspeaker
Bitget’s Q1 2024 Report Reveals 100% Surge in Transactions Volume, While BGB Soars 80%
Bitget, a major crypto exchange and Web3 firm, revealed its Q1 2024 Transparency Report, showing incredible growth and dedication to a thriving crypto community. Trading volumes for spot and futures surged 100% compared to the prior quarter, while Bitget’s native BGB token value soared 80% during Q1 2024, solidifying Bitget’s position as a major player in the crypto.
The futures trading volume reached US$1.4 trillion, signifying a substantial 146% surge compared to Q4 2023. Moreover, the spot trading witnessed an equally remarkable performance, surpassing US$160 billion, representing a 113% increase. Consequently, Bitget’s market share in the derivatives market experienced a notable 2.4% growth in March 2024.
The success wasn’t limited to trading activity. Bitget witnessed a remarkable surge in its user base, soaring to encompass over 25 million individuals worldwide. This growth underscores the platform’s growing appeal and widespread adoption within the crypto community.
Bitget’s BGB Token Grows 434% Since 2023
Bitget’s native token BGB dramatically soared reaching $1 in February, and had a huge increase in market cap to reach $ 1.5 billion. The superlative performance of BGB has yielded an increase of 434% since the year started, thus outperforming Bitcoin (BTC) and emerging as one of the top performers on the CEX token market.
Bitget’s growth is not limited to trading volumes, and its proactive listing approach that has led to the introduction of 186 additional tokens expanded its portfolio to over 750 tokens and 820 spot trading pairs. Some tokens, such as XAI, GPT, and PIXEL, experienced an appreciable increase in price, surpassing an astonishing high of 3000%.
Apart from its core products, Bitget places emphasis on its role in society and the need to have a vibrant community. Among these are publishing a gender imbalance report, unveiling Blockchain4Her project worth $10 million as well as electing three experts from the industry as brand representatives.
Furthermore, Bitget also embraces various charitable activities such as providing assistance to Club Caacupé, a youth development organization by organizing fundraising activities together with giving away all SLERF trading fees towards its rebuilding plan.
Bitget Eyes Global Expansion
Bitget appointed Vugar Usi Zade and Alvin Kan to further propel its global expansion and innovation. They will serve as Chief Operations Officers, leading Bitget and Bitget Wallet, respectively. With their extensive expertise and strategic insights, these new leaders will fortify Bitget’s trajectory towards continued success and growth in the future.
Furthermore, Gracy Chen, the Managing Director of Bitget, highlights the organization’s dedication to enhancing its spot market offerings and making substantial contributions to the broader cryptocurrency market.
“We aim not only to bolster our market position but also to contribute tremendously to the broader crypto ecosystem, supporting startups with high potential to grow,” said Chen.
Bitget’s Q1 2024 Report Reveals 100% Surge in Transactions Volume, While BGB Soars 80%
