Report Reveals Bitget’s Futures Trading Volume Soared to $1.4 Trillion in the First Quarter of 2024

In the kickoff of 2024, Bitget witnessed a considerable expansion of both its trading volumes and user clientele, harnessing the momentum of the broader market’s revival.

The exchange, with its roots in the Seychelles, disclosed that its futures trading volume catapulted to nearly $1.4 trillion, a remarkable ascent of 146%, while its spot trading activities followed suit with a 113% climb, breaching the $160 billion mark.

• In March 2024, Bitget attained its peak growth in the derivatives market sector, boasting a 2.4% upturn. This achievement thrust it into the spotlight as the third-most voluminous derivatives trading arena, a status it hadn’t reached since the close of the previous year.
• An impressive roster of over 25 million global patrons is now allied with the platform, as stated in its Q1 2024 Transparency Report.
• On another triumphant note, the proprietary cryptocurrency, BGB, boasted remarkable performance in the first quarter, escalating to a value unparalleled since its inception in February. Concurrently, its market valuation escalated to the tune of $1.5 billion.
• In a strikingly bullish trajectory from the onset of 2023, BGB’s value amplified by 434%, outshining even BTC, thus cementing its prominence in the competitive CEX token panorama.
• Bitget’s Managing Director, Gracy Chen, shared her insights on the company’s recent market achievements, stating,

“Our vision for the year ahead is to intensify the enhancement of our spot trading platform. We’re not just aspiring to elevate our stature within the marketplace but to also make significant contributions to the expansive crypto landscape, diligently nurturing high-potential startups.”

• This quarter saw the exchange diversifying its catalog with 186 novel tokens. Notables among these were the Solana-based meme token Dogwifhat (WIF) and the rollup-centric token Altlayer (ALT), both of which amassed over 1,000% in gains.
• Upon entering 2023, Bitget broadcasted the augmentation of its team, announcing an increase in its workforce from 1,100 to 1,500 members.