The cryptocurrency exchange Bitget released a report on the use of custodial services. According to the report, from November 2023 to January 2024, the volume of assets managed by Copper and Cobo increased by 250%, while deposits nearly doubled.
The platform partnered with Copper for over-the-counter settlements and with Cobo SuperLoop for institutional digital asset custody in 2023.
In its report, Bitget examined investor behavior, market dynamics, and the development of the crypto economy. Key findings of the study include:
- total asset volume increased by 250% due to anticipation of a Bitcoin ETF;
- deposit volume nearly doubled;
- 43% of custodial wallet holders make repeat deposits;
- 77% of accounts are used for short-term investments;
- the industry is growing amid expectations of a bull market, integration of digital assets into daily life, and global instability, prompting users to use cryptocurrencies to protect savings.
“The latest Bitget research statistics highlight the dynamic nature of the crypto economy. We expect the recent approval of a Bitcoin ETF to further accelerate cryptocurrency adoption,” commented Bitget Managing Director Gracy Chen.
Bitget is a cryptocurrency exchange that has been operating since 2018, serving over 20 million users in 100 countries. The platform’s ecosystem includes Bitget Wallet, a multi-currency Web3 wallet supporting swaps, an NFT marketplace, and a dapp browser.
Previously, Bitget Wallet integrated the L2 solution Lightning Network and the ARC-20 token standard as part of expanding support for the Bitcoin ecosystem.