• Bitget reported a successful second quarter with 8.7% market share and over $60 billion in spot trading and $600 billion in futures trading.
• Copy trading helped add 9,033 new elite traders to the platform while the native token BGB outperformed peers with a 23% increase.
• The company also expanded its operations by registering as a VASP in Poland and Lithuania, and entering Turkey with a new website.
Bitget’s Successful Second Quarter
Bitget reported impressive growth for the second quarter of this year, according to its Transparency Report on Tuesday. Its market share increased to 8.7%, which is 1.81% higher than the top five centralised exchanges. Spot trading exceeded $60 billion while futures trading surpassed $600 billion – making it the only CEX that saw an increase in futures trading volume following the FTX fiasco as per Nansen – a blockchain analytics platform.
Copy Trading Helps Add Elite Traders
The number of followers on Bitget increased by more than 85,000 in Q2 while copy trading helped add 9,033 new elite traders on the platform. The native token BGB also experienced an impressive upturn with more than 305,653 holders – up 130%. Trading volume hit $1.3 million – representing an 80% increase from previous figures.
Expansion Plans Achieved
In addition to its growth milestones, Bitget also achieved its expansion plans during this period by registering as a VASP (Virtual Asset Service Provider) in Poland and Lithuania, and officially launching their services in Turkey through a new website.
Crypto Loans Launched
Bitget recently launched “Crypto Loans” to debut into lending – just days before their Transparency Report was released ( find out more ). This latest development will allow users access to digital assets without needing to sell them off or liquidate their holdings for cash directly from within their wallets or accounts on Bitget’s platform itself.
Conclusion
All in all, it has been an excellent quarter for Bitget despite some of the volatility seen across cryptocurrency markets due to external factors such as regulatory clampdowns and macroeconomic events impacting traditional finance markets negatively– resulting in massive capital flight into cryptocurrency havens such as Bitcoin (BTC), Ethereum (ETH) etc., among others .