Bitget’s futures buying and selling to achieve $1.4 trillion in Q1 2024: report

Bitget skilled important progress in its buying and selling volumes and consumer base within the first quarter of 2024, using the wave of widespread market revival.

The Seychelles-based alternate revealed that futures buying and selling quantity rose to round $1.4 trillion, up 146%, whereas spot market buying and selling quantity rose 113% to over $160 billion.

• Bitget noticed its largest progress in derivatives market share in March, up 2.4%. This allowed it to safe the place of the third largest derivatives buying and selling platform by quantity and marked the primary time since December that Bitget reached this rating.
• Based on the Transparency Report of the primary quarter of 2024, the platform has greater than 25 million customers worldwide.
• In the meantime, Bitget’s native token, BGB, had a powerful quarter because it surpassed 1 in February. The market capitalization, alternatively, rose to $1.5 billion.
• Because the starting of 2023, BGB has posted a acquire of 434%, outperforming even BTC and establishing itself as a standout participant within the CEX token market.
• Commenting on the cryptocurrency alternate’s efficiency final quarter, Bitget’s Managing Director Gracy Chen stated:

“This yr, Bitget is doubling down on its dedication to bettering our spot market providing. We intention not solely to strengthen our market place, but additionally to make an enormous contribution to the broader crypto ecosystem, by supporting startups with excessive progress potential.”

• Through the quarter, Bitget unveiled a listing of 186 new tokens, together with the Solana meme coin Dogwifhat (WIF) and the rollup utility token Altlayer (ALT) that stood out and in the end delivered good points of greater than 1,000%.
• Earlier this yr, Bitget introduced it could increase its group from 1,100 to 1,500 workers.