Q2 Report from Bitget Showcases $700 Million in Capital Inflow and Almost 50% Increase in User Traffic
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From VICTORIA, Seychelles, dated July 11, 2024/PRNewswire/ — The prominent cryptocurrency trading platform and Web3 advocate, Bitget, has unveiled its Q2 2024 transparency report. The report highlights the company’s dynamic expansion over the fiscal year, including a surge in user traffic by nearly 50% and a monthly inflow of roughly 10M visitors.
Capital inflow on the trading platform experienced considerable growth. According to Bitget’s Proof-of-Reserve (PoR) details, there was a 73% increase in BTC, an 80% in USDT, and a noteworthy 153% jump in ETH user balances within the first half of the year, amassing a total capital influx close to $700 million. Furthermore, the user base grew by 2.9 million and spot trading volumes rose over 10%, from $28B in the first quarter to $32B in the second quarter, underlining the enhanced reach and first-rate crypto trading services provided by Bitget.
The exchange’s innovative strides include the launch of two novel initial token listing platforms, PoolX and Pre-market. The former is a novel staking platform granting rewards in tokens for staking BGB and USDT, while the latter offers a marketplace for the trading of tokens not yet available on major exchanges. These platforms introduced over 100 new projects, attracting considerable interest and participation.
The BGB token saw remarkable increase and was lauded as the most exceptional performing CEX token. Forbes recently acknowledged BGB within their Top 10 cryptocurrencies. Additionally, according to the latest CCData H2 Outlook Report, Bitget observed the largest market share increase among CEXs, marking a 38.4% hike from the second half of the previous year into the first half of 2024.
A critical milestone for the quarter includes Bitget’s association with three leading Turkish sports figures: wrestler Buse Tosun Çavuşoğlu, boxer Samet Gümüş, and volleyball player İlkin Aydın. This partnership created buzz as part of the #MakeItCount Lionel Messi campaign, inspiring a global audience. The brand’s accelerated growth in Turkey was also manifested through this collaboration.
Additionally, in partnership with Foresight Ventures, Bitget introduced a $20M TON Ecosystem Fund to bolster early-stage projects on The Open Network (TON), propelling the crypto adoption mission at Bitget.
“The second quarter of 2024 marks a pivotal moment in our journey, as we see significant user interest and geographic expansion. We are truly grateful for our community’s unwavering support and remain enthusiastic about pioneering the Web3 future,” expressed Gracy Chen, CEO of Bitget.
The exchange steadfastly upholds its proof-of-reserves, displaying impressive asset reserve ratios. Moreover, the value of Bitget’s Protection Fund now surpasses the $420M mark, positioning it among the industry’s most robust safety nets. Bitget Research also spotlighted the worrying trend of deepfake-related crypto crime in its latest report and announced an imminent anti-scam initiative in Vietnam. To further enhance platform security, Bitget has forged a new alliance with Sumsub, providing an additional layer of protection to its 25M users.
Looking forward to Q3 of 2024, Bitget remains dedicated to enhancing the ecosystem, delivering added value to its clientele, and contributing to the continued expansion of the crypto sphere. With its continued commitment to innovation and strategic partnerships, Bitget has successfully concluded the quarter, achieving several positive milestones.
To delve deeper into Bitget’s performance in Q2, click here for the in-depth report: Bitget Q2 2024 Transparency Report.
About Bitget
Founded in 2018, Bitget is a global frontrunner in the cryptocurrency exchange sector and a Web3 advocate with a reach spanning over 100 countries, serving 25 million users. Known for its copy trading feature and comprehensive trading solutions, the exchange facilitates smarter trades for its users. Formerly BitKeep, the Bitget Wallet is an exceptional multi-chain crypto wallet which delivers a full suite of Web3 functionalities including swap services, an NFT marketplace, and DApp integration. Bitget’s commitment to promoting cryptocurrency adoption is reflected in its partnerships with respected personalities like soccer legend Lionel Messi and esteemed Turkish athletes Buse Tosun Çavuşoğlu, Samet Gümüş, and İlkin Aydın.
Read more about Bitget via the following links: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
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