The Bitget exchange’s native BGB token locked in 120% gains over the last three months, as the quarterly transparency report reveals. Such traction has made the BGB the best performer overall in terms of growth among all exchange tokens, and has even allowed it to outmatch BNB, Ethereum, and Bitcoin in the department. Such impressive traction was made possible thanks to a surge in user numbers, which totaled 146% over the indicated period.
All in the Values
The Bitget Q1 transparency report sheds light on important values that have allowed the exchange to excel during a time of protracted crisis on the crypto market. As the market experienced an increase in investor activity, growing to $1.2 trillion in terms of capitalization, Bitget leveraged that by raising traffic on its website and mobile application by 35% to 33.1 million at the end of Q1. That rise translated into 8% growth in spot trading activity and 27% for futures, or $59 billion and $658 billion respectively in terms of volume.
The values had a direct impact on Bitget’s ranking, as the exchange climbed to the top 4 of CEXs according to TokenInsights and thus outperformed all other exchanges. The addition of 105 new coins to the listing via the Bitget Launchpad platform brought the total number of trading pairs to past 500, giving traders an additional incentive to resort to Bitget as their go-to venue.
As a copy trading platform, Bitget onboarded 20,669 new elite traders and 84,552 new copiers during the period, which can be attributed to its staggering follower growth across social media channels. The official TikTok channel gained in excess of 200,000 users of the total 1 million followers who joined the TikTok, Twitter, Instagram, Facebook, and YouTube channels, showcasing 181% growth in Q1.
Bitget’s financial and community numbers revealed in the report can be attributed to its massive efforts exerted during the quarter in several directions. The exchange team considers expansion beyond trading space as a keystone to its success. That effort is reflected in the development of a slew of new trading and investment products, such as Bitget SharkFin, Bitget Dual Investments, Bitget Smart Trend, and many others. The integration of TradingView into the service has allowed traders from the traditional market to turn to Bitget as a solution for expanding their operations into the crypto space, further bolstering the user base.
Most importantly, Bitget has been making notable acquisitions, the most prominent of which is the BitKeep Wallet. The latter has since been rebranded into Bitget Wallet and its 8 million strong user base integrated into the exchange’s ecosystem. Bitget intends to use the wallet as an entry point into the host of Web3 products it is developing as part of its DeFi-verse endeavor. Considering the expansion of its product lines, Bitget is betting on attracting users through diversity and variety, rather than focusing on a specific direction. That thesis is best supported by the enactment of the exchange’s ‘Go Beyond Derivatives’ strategy, which is self-explanatory and reveals Bitget’s intent on becoming more than just a crypto exchange.
The launch of the Bitget Academy is certain to become another important step in this direction, giving the exchange the venue necessary for identifying and nurturing new talent and leadership in crypto. The exchange’s desire to foster a crypto-favourable audience and advance the adoption of digital assets as part of its vision of a decentralized future are in line with its core values and resonate with a great number of users. Bitget is actively attracting role models to act as ambassadors of such change, partnering with the Juventus Football Club and Lionel Messi.
The Bitget Q1 transparency report indicates that the exchange is growing, as best illustrated by the 30% growth of its team to 1,300 talents, with another 300 open vacancies. As the crypto market slowly recovers, exchanges like Bitget are showing that crypto companies can act in capacities far broader than just trading platforms confined to the blockchain environment.