Bitget Q3 performance growth: Market share jumps to second place, BGB holder number reaches a historic high.

2023-10-30 14:29

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Source: Bitget

Abstract

· Despite the overall market decline, Bitget's market share has increased the most, reaching 9.43% in September.

· BGB token has become one of the top five platform tokens in terms of market capitalization, and the number of BGB holders continues to increase, reaching 354,472 in the third quarter.

· Bitget has announced its expansion plan in the Middle East region. Click here for more information.

· Bitget has launched a $100 million EmpowerX fund to support the development of its Web3 ecosystem.

October 20, 2023, Victoria, Seychelles: Leading cryptocurrency derivatives and copy trading platform, Bitget, released its quarterly transparency report, highlighting the platform's major achievements in Q3 2023. The report emphasizes the platform's outstanding performance during challenging market conditions and showcases the remarkable growth of its native token, BGB.

In the third quarter of 2023, the entire industry is facing a bleak market situation. According to the report from CCData, the spot trading volume of centralized trading platforms was 13.3 trillion US dollars, and the derivative trading volume was 48 trillion US dollars, both of which decreased by 22% and 23% respectively. In September, the comprehensive trading volume of spot and derivative trading on centralized trading platforms continued to decline for the third consecutive month, with a decrease of 20.3% to 1.67 trillion US dollars. Despite the sluggish market, Bitget's market share increased the most, reaching 9.43%.

The factors that contributed to this growth include the excellent performance of Bitget's native token BGB this year. BGB has outperformed most platform tokens and ranks among the top five in market capitalization. The price of the token has risen from 0.18 US dollars at the beginning of the year to a quarterly high of 0.4927 US dollars in September.

"The outstanding performance of BGB reflects Bitget's firm commitment to accelerating the application of cryptocurrencies in the ecosystem through its DeFi and CeFi products," said Gracy Chen, Managing Director of Bitget. "We are committed to providing users with innovative and secure trading solutions, and the development of BGB is the result of the growing community trust and support for Bitget."

People's expectations for the restart of Bitget Launchpad have caused its value to soar, reaching a historic high of $0.5152 on February 19. The number of BGB holders continues to increase, reaching 354,472 in the third quarter, with BGB trading volume exceeding $1.3 billion in the past three months.

Bitget's ecosystem remains stable amidst market turbulence. In the last quarter, Bitget's protection fund continued to exceed $300 million. In July, it reached a peak value of $368 million, the highest level of that month. In addition to Bitget's reserve ratio exceeding 200%reserves, this also provides an additional insurance for users' funds.

Bitget has collaborated with multiple industry stakeholders to bring simplicity and convenience to cryptocurrency tax reporting, portfolio management, and trade automation, and has launched an enhanced data solution. This includes partnerships with companies such as Cointracking, Coinstats, CCData, Koinly, 3commas, and Cobo Superloop.

Bitget continues to lead the initiative that is in line with its vision, which is to reshape finance through the evolution of cryptocurrency, aiming to create a fairer future. In the third quarter, Bitget implemented its latest brand reshaping plan, focusing on strengthening its position as a leader in innovative trading products.

Bitget also emphasized its expansion plans in the Middle East region. The countries/regions that the trading platform is exploring include Bahrain and the United Arab Emirates, which include Dubai, Abu Dhabi, and the Emirate of Ras Al Khaimah, which are friendly to cryptocurrencies.

In September, Bitget launched a $100 million EmpowerX fund, dedicated to promoting the development of the platform ecosystem. The strategic fund aims to explore investment opportunities in regional trading platforms, data analysis companies, media organizations, and other entities that contribute to the platform's development.

To celebrate its fifth anniversary, Bitget held a grand EmpowerX Summit in Singapore, with nearly 1,900 guests attending the flagship event. Over 247 outstanding speakers and partners participated in the event, which provided a platform for discussing the transformative potential of cryptocurrencies and the Web3 ecosystem. Prominent figures such as Tim Draper, Haseeb Qureshi, and Justin Sun delivered keynote speeches, emphasizing the platform's ongoing commitment to empowering the crypto community.

Bitget aims to establish the gold standard of industry transparency and credibility through quarterly reports. While continuing to lead innovation and create a more inclusive financial future for everyone, Bitget demonstrates a steadfast commitment to security and reliability.

Bitget Introduction

Bitget was established in 2018 and is a leading cryptocurrency trading platform and Web3 company globally. Bitget trading platform serves over 20 million users in more than 100 countries and regions, committed to helping users trade more wisely through its pioneering copy trading function and other trading solutions. Bitget Wallet, a decentralized multi-chain digital wallet on over 90 blockchains, is a Web3 subsidiary of Bitget, supporting over 250,000 cryptocurrencies and can be used to explore DEX, DeFi, NFT, and Metaverse. Bitget collaborates with reliable partners such as legendary Argentine footballer Messi and official esports event organizer PGL to encourage people to embrace cryptocurrencies.