Bitget, a leading cryptocurrency exchange, has announced its notable achievements for the second quarter of this year in a Transparency Report. The report highlights the increase in market share and the addition of thousands of new elite traders to the platform.

Bitget Continues to Expand Market Share

According to the quarterly update, Bitget’s market share has climbed to 8.7% in the three-month period, representing a 1.81% increase. This growth makes it the second-highest among the top five centralized exchanges. The exchange also experienced significant trading volume, with spot trading exceeding $60 billion and futures trading surpassing $600 billion.

Bitget stands out as the only CEX that saw an increase in futures trading volume this year following the FTX fiasco, as reported by Nansen, a blockchain analytics platform.

These achievements come shortly after Bitget introduced “Crypto Loans” and expanded its lending services.

Copy Trading Drives Growth in Elite Traders

Bitget witnessed a substantial increase in its followers by more than 85,000 during the second quarter. The introduction of copy trading played a significant role in attracting 9,033 new elite traders to the platform.

Bitget’s native token, BGB, also performed remarkably well, experiencing a 23% increase in value as trading volume reached $1.3 million, an 80% increase. The report also revealed that the number of BGB holders rose by 130% to 305,653 within three months.

Furthermore, Bitget continued its expansion efforts by registering as a Virtual Asset Service Provider (VASP) in Poland and Lithuania in the second quarter. The company also entered the Turkish market, launching a new website to cater to Turkish traders.

Summary:

Bitget has enjoyed significant growth in the second quarter of this year, increasing its market share and attracting thousands of new elite traders to its platform. The company’s transparency report highlights its achievements, including its expansion in trading volume and the introduction of copy trading. Bitget’s native token, BGB, has also experienced impressive growth. Additionally, the company expanded its presence by registering as a VASP in Poland and Lithuania, while also entering the Turkish market.

FAQs:

1. What is Bitget?

Bitget is a leading cryptocurrency exchange platform that allows users to trade and invest in various cryptocurrencies.

2. What is copy trading?

Copy trading is a feature that allows users to automatically copy the trades of successful traders on the platform. This eliminates the need for users to make their own trading decisions and allows them to benefit from the expertise of experienced traders.

3. What is a VASP?

VASP stands for Virtual Asset Service Provider. It refers to a company or platform that provides services related to virtual assets, such as cryptocurrency exchanges, wallets, and trading platforms. Registering as a VASP ensures that the company complies with regulatory requirements and operates in a secure and transparent manner.