Bitget MENA Sees 52% Surge in Crypto Futures Trading Before Launch of Annual KCGI Trading Contest
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<p>Muscat: The allure of crypto futures has been on an uptick, now regarded as a top contender amongst the array of cryptocurrency derivative instruments. Recent rumors have been circulating that the Ethereum Spot might get the nod from the US Securities and Exchange Commission. Subsequently, ETH Futures exchange-traded funds (ETFs) surged to unprecedented heights, commanding an all-time high trading volume of $47.75 million on May 21st, 2024, eclipsing the previous zenith of $34.18 million recorded on March 5th, 2024 by 40%.</p>
<p>Amid this burgeoning interest for crypto futures, Bitget, celebrated for its Web3 and cryptocurrency exchange prowess, disclosed that the upcoming 5th iteration of the King's Cup Global Invitational (KCGI)—an esteemed annual trading contest—will feature a crypto futures trading challenge.</p>
<p>Following on the coattails of the Bitget’s Q1 2024 dossier that boasted over a twofold enhancement in crypto futures trading volume. Specifically, the report noted a formidable 146% swell in crypto futures trading activities, amounting to nearly US$ 1.4 trillion, in conjunction with a 113% increase in Bitget Spot trading volume, topping over US$ 160 billion.</p>
<p>Notably, Bitget Global has also recorded a pronounced leap in Bitcoin Future trading volume within its marketplace, comparing figures from May 2023 to April 2024. Bitcoin Futures trading volume on Bitget hit the $437.38 billion mark in April 2024, out of an aggregate market volume of $1.9 trillion. A year earlier, in May 2023, the platform’s volume was tallied at $124.54 billion from a $923.29 billion market. (Source: The Block)</p>
<p>The crypto exchange's derivative market share saw a significant tally with a growth of 2.4% in March 2024.</p>
<p>In terms of regional growth, even within the MENA domain, Bitget has seen a 52% surge in their crypto futures trading from January 2024 to April 2024.</p>
<p>Sharing insights, Sam Spiers, Regional Director at Bitget MENA said, “At Bitget MENA, along with our international arms, we never cease to present an array of trading options to our clients for maximizing their gains from the crypto sphere. This is mirrored in the climb of crypto futures trading across the MENA locale and beyond. It further reflects the evolving sophistication of crypto traders who navigate the complexities of crypto futures trading as opposed to mere spot trading.”</p>
<p>He continues, “We continue to champion and stimulate crypto futures trading initiatives through introducing a Futures trading team event within our annual KCGI contest. We have earmarked a whopping 5,000,000 USDT for the total KCGI prize pool.”</p>
<p>Gracy Chen, CEO of Bitget, commented, “As we journey into the fifth sequence of our KCGI, we eagerly anticipate offering traders an unrivaled stage to demonstrate their prowess, push their competencies, and vie for extraordinary rewards. But KCGI is not just any tournament—it's a tribute to the fervor, commitment, and expertise circulating within our global trading commune.”</p>
<p>Participants eager to register can proceed to https://www.bitcastHit.com/events/kcgi <br/> </p>
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