Bitget saw significant growth in its trading volumes and user base in the first quarter of 2024, riding the wave of widespread market resurgence.
The Seychelles-based exchange revealed that its futures trading volume soared to around $1.4 trillion, an increase of 146 percent, while spot trading volume jumped 113 percent to exceed $160 billion. of dollars.
- Bitget saw its strongest growth in derivatives market share in March, up 2.4%. This allowed it to secure the position as the third largest derivatives trading platform in terms of volume and was the first time since December that Bitget achieved this ranking.
- The platform currently has more than 25 million users worldwide, according to its Q1 2024 Transparency report. Report.
- Meanwhile, Bitget's native token BGB had an impressive quarter, as it topped 1 in February. However, its market capitalization amounted to $1.5 billion.
- Since the start of 2023, BGB has made gains of 434%, outperforming even BTC and establishing itself as a notable player in the CEX token market.
- Commenting on the cryptocurrency exchange's performance over the past quarter, Bitget CEO Gracy Chen said:
“This year, Bitget is redoubling its efforts to improve its offerings on the spot market. We aim to not only strengthen our position in the market, but also contribute immensely to the broader crypto ecosystem, supporting startups with high growth potential.
- Throughout the quarter, Bitget revealed the list of 186 new tokens, among which the Solana coin Dogwifhat (WIF) and the stacking utility token Altlayer (ALT) stood out and ultimately garnered gains of over 1 000%.
- Earlier this year, Bitget announced the expansion of its team from 1,100 to 1,500 employees.
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