Bitget, a leading cryptocurrency exchange and Web3 company has released its Q1 2024 Transparency Report, which outlines a quarter characterized by tremendous growth across major indices. The report also reveals a 100% increase in both spot and futures trading volumes from the previous quarter, leading to record highs for BGB – the platform’s native token.
The trading volume for futures increased dramatically to $1.4 trillion, representing a 146% rise, while spot trading volumes also surged by 113%, reaching over $160 billion. In addition, Bitget saw its market share in derivatives improve by 2.4% within March alone, thus establishing it as one of the key participants in this sector.
Bitget’s native token, BGB, had a wonderful Q1 in which it hit above $1 per coin in February and rose up to a massive $1.5 billion market cap. Particularly, BGB has seen exceptional profits of 434% since the start of this year outperforming Bitcoin (BTC) by far and is one of the leaders in CEX token market as for now.
The platform, has also seen its user base substantially increase and now exceeds 25 million people worldwide. The rapid acceptance of such an extensive platform is proof that Bitget’s ecosystem is trustworthy and attractive to users.
Bitget’s Remarkable Token Growth Exceeds 3000%
Bitget has undergone growth in terms of trading volumes and beyond. On its part, the platform has introduced 186 new tokens as part of its proactive listing strategy to increase its offerings to more than 750 tokens with 820 spot trading pairs. In particular, some coins grew by over 3000%, such as XAI, GPT, and PIXEL.
Apart from its main services, Bitget focuses on social responsibility and a close-knit community. Among other things, the firm released a gender inequality report, facilitated the Blockchain4Her initiative, in which a total of $10m was invested, and appointed three industry professionals as brand ambassadors.
Moreover SLERF trading fees are directed to their rebuilding plan through donations to charitable activities while fundraising events are organized for its partner Club Caacupé – youth development organization.
Looking ahead, Gracy Chen, Managing Director of Bitget, emphasizes the company’s commitment to enhancing its spot market offerings and contributing significantly to the broader crypto ecosystem. “We aim not only to bolster our market position but also to support startups with high potential to grow,” she states.
Related Reading | Elizabeth Warren’s Wake Up Call: Iran, Crypto & Controversy
