According to the Boston Consulting Group, in 2022 Bitget broke into the top three by crypto-derivative trading volumes. Binance took first place, OKX second.
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According to a study by TokenInsight, Bitget’s share of total crypto-derivative trading volume rose from 3% to 11% last year, and the exchange’s open interest grew by 344% — from $841 million to $3.74 billion.
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Analysts at TokenInsight highlighted the main drivers of Bitget’s market share growth:
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- The popularity of copy trading among platform users. According to Bitget, since the service’s launch, 340,000 followers have executed more than 42 million profitable trades;
- Expansion into Europe, Turkey, Southeast Asia and Latin America. In January 2023, the number of crypto exchange clients from these regions reached 8 million;
- Partnership with Lionel Messi. Advertising campaigns with the Argentine footballer boosted user interest in the exchange’s activities and the King’s Cup tournament. At KCGI 2022, participated 32,174 users — a record for the event’s history.
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Gracie Chen, Bitget’s managing director, says the exchange’s team achieved these results thanks to timely responses to market challenges:
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The past year has been one of the most important in the history of our platform: we launched the Proof-of-Reserves solution for transparent wallet verification, increased staff to 1,100 employees and entered new markets.
We are confident that 2023 will also present opportunities for growth. The industry is consolidating and gradually reducing the share of borrowed funds, and will therefore soon emerge from this crypto-winter.
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The Bitget cryptocurrency exchange supports spot and futures trading, P2P and OTC deals, copy trading, and passive earnings on Bitget Earn products. The platform is also developing services for social trading — the automatic trading service \”Market Strategies\” and the Bitget Insights platform for publishing trading ideas.
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In January 2023, Bitget launched a funds-storage function on dedicated wallets.
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