Bitget Reports 94% Surge in Spot Trading with 110% Spike in Bitget Token (BGB) Volume

Amidst a cryptocurrency market that experienced both turbulence and breakthroughs in the past year, Bitget demonstrated impressive resilience and growth. In 2023, the platform witnessed a remarkable 94% surge in spot trading volume and a substantial 110% increase in Bitget Token (BGB) trading volume.

Business Performance Highlights:

• Despite market challenges, Bitget’s overall yearly trading volume reached US$3.14 trillion as year-on-year spot trading volume surged by 94%.
• BGB saw exceptional growth of 291% in price and a 110% increase in trading volume, with prices breaking out of the ATH level multiple times last year.
• Made strategic investments, including a US$30 million investment in BitKeep, and established the EmpowerX Fund and Web3 Fund with US$100 million capital each to expand the ecosystem.
• Launched Blockchain4Youth project worldwide with US$10 million allocated funding.
• Registered as a Virtual Asset Service Provider (VASP) in Poland and Lithuania

According to the report, Bitget thrived with a total trading volume exceeding US$3.14 trillion. Notably, spot trading volume surged to US$81.6 billion, marking an impressive 94% increase despite market turbulence. Bitget’s user base flourished, reaching 20 million, supported by a dedicated team of 1,500 staff members. The platform also experienced a peak of 13.6 million monthly visits in May 2023.

Bitget proactive listing strategy resulted in the addition of 355 new listings, marking an impressive 46% year-on-year increase. This has elevated Bitget’s offerings to encompass over 600 tokens and 700 spot trading pairs, underlining our commitment to asset diversity.

This expansion also sparked increased demand for BGB, Bitget’s native token, which experienced remarkable growth, achieving a record-breaking all-time high price of 0.70499 USD, representing a remarkable 291% increase from its value at the beginning of 2023. The surge in BGB holders, reaching nearly 217,000 by the end of 2023, and a substantial rise in its trading volume can be attributed to the introduction of new features, developments in launchpad and launchpool, compliance achievements, and its continuous efforts to enhance Bitget’s trading services and ecosystem.

Gracy Chen, Managing Director of Bitget, states: “In 2023, marked by its unpredictable pace and market fluctuations, Bitget achieved notable milestones. We are pleased to unveil our Bitget Transparency Report, which highlights significant growth in both our user base and trading volume to the world. Additionally, we expanded our business operations and fortified our compliance measures, solidifying our position in the cryptocurrency industry. These accomplishments underscore our commitment to providing top-notch services and our unwavering dedication to the crypto community. We look forward to the opportunities that lie ahead as we persist in driving innovation within the cryptocurrency space.”

In addition, Bitget has launched its most recent monthly Proof of Reserves (PoR) report, leading the industry in its commitment to transparency with a robust total reserve ratio of 175%. This regularly-released PoR disclosure underscores Bitget’s unwavering pledge to maintain 100% backing for user funds at all times through substantial on-hand reserves.

The January 2024 PoR data highlights strong reserve numbers and Bitget’s focus on safeguarding user assets through visibility into its balance sheet. According to Coinmarketcap’s data on January 8th, Bitget’s total reserves surpassed US$1.8 billion consisting of major cryptocurrencies such as BTC, ETH, USDT, and USDC, among others. This routine audit provides clear visibility into Bitget’s ongoing commitment to openness and accountability.

Learn More At Bitget Academy

Bitget Transparency Report 2023

2022 kept us on the edge, and 2023 continued with its unpredictable pace. Amidst market fluctuations, Bitget achieved significant breakthroughs, including substantial user and volume growth, business expansion, and an expanded compliance footprint. In the Bitget Transparency Report 2023, we will revisit our remarkable journey throughout the year.

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About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organiser PGL.

For more information, visit: Website  | Twitter  | Telegram  | LinkedIn  | Discord | Bitget Wallet

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