Bitget report: 44% of copy traders are Zoomers

The Bitget cryptocurrency exchange published a report on social trading on its platform. According to the study, Generation Z accounts for 44% of the total users of the copy trading service.

The report covers data from the first half of 2023. The main trading volumes for copy traders were in Western Europe (31%), East Asia (26%), and Southeast Asia (19%).

The shares of users from the CIS and African countries are relatively small, but they show the greatest interest in copy trading. According to Bitget, the development of cryptocurrency markets in Africa attracts many newcomers who choose copy trading.

Social trading is particularly popular among Generation Z (customers up to 25 years old), who tend to trust more experienced traders. They account for 44% of all copy traders on the platform. In second place is the 25–35 age group with a 32% share.

In the first half of 2023, more than 109,000 subscribers earned profits from copy trading — totaling more than 74 million USDT. In the futures and spot markets, profits from copy trading were earned by 93% and 82% of users, respectively.

The main assets of copy traders were Bitcoin (52% of total trading volume) and Ethereum (44%).

These data reflect the overall market sentiment. The use of modern tools, including AI-based ones, makes copy trading strategies accessible and profitable for users without extensive knowledge and experience. We see that social trading has a significant impact on the industry, as more people come together in various communities, commented Gracie Chen, Bitget’s Chief Executive Officer.

Bitget is a cryptocurrency exchange for spot and futures trading, P2P and OTC trades, as well as passive income on Bitget Earn products. The exchange has entered partnerships with TradingView and footballer Lionel Messi, and has become a sponsor of Juventus.

Earlier Bitget added AI-powered grid trading to the ‘Trading Bots’ section.