The exchange jumped into the list of top 3 derivatives exchanges with a 2.6x increase in market share
VICTORIA, Seychelles, January 19, 2023 /PRNewswire/ — Leader crypto derivatives exchange Bitget has become one of the top 3 in the world crypto trading in the derivatives industry associated with huge achievements, such as a 2.6x increase in market share and 8 million registered users in over 100 countries worldwide, despite poor market sentiment after the bankruptcy of FTX in 2022.
2022 has been one of the most difficult years in the crypto industry, which has seen the collapse of Terra LUNA, Celsius and FTX, consequently wiping out more than 2 trillion US dollars of crypto market. Despite the market difficulties, Bitget has grown in all aspects; the company has made great strides in building our team, our brand and our business over the past 12 months during the crypto winter.
Some key development areas of the business included:
Climbing the chart ranked as the Top 3 exchanges according to the Boston Consulting Group Reportin terms of crypto trading volume of derivatives.
According to the last TokenInsight ReportBitget’s market share in the derivatives market fell from 3% to 11% after the collapse of FTX
Over 300% increase in total transaction volume, thanks to the popularity of trade copy products
The workforce has increased from barely 200 people at the start of 2022 to more than 1,100 employees in Jan 2023
Become the exclusive crypto exchange partner with Lionel Messi
Bitget saw an increase of more than 300% in total transaction volume, thanks to the popularity of copy trading and crypto term products. The platform’s flagship offer, One-Click Copy Trade, from Dec 2022Attracted over 80,000 traders and over 338,000 subscribers with over 42 million profitable trades, industry leader in the copy trade market.
According to the latest data shared by the TokenInsight reportBitget’s market share rose dramatically from 3% to 11%, after the collapse of the former second-largest exchange, FTX, marked the biggest market share growth in the world. crypto derivatives sector. By the end of 2022, total daily open interest across the top 10 exchanges had fallen 27.1% from January and 41% from its peak in April of the same year. Among exchanges, only Bitget achieved a significant increase in open interest, $841 million to $3.74 billiona total increase of 344%.
These growth figures are attributable to our efforts not only for service improvement, but also for global expansion and the adoption of best-in-class security and protection measures. Previously, the company focused on serving customers from only a few Asian countries. However, by the end of 2022, the exchange had acquired over 8 million users in over 100 countries, with footprints in Turkey, South East Asia, Latin Americaand Europe. Bitget protects user funds on the platform with a series of security policies, including a $300 million Protection Fund, a fund custodial service, is committed to being fully reserved by the Merkle Tree Proof of Reserves model.
Grace ChenCEO of Bitget remarks “2022 marked one of the most important years in Bitget’s history. Our accomplishments for the year are nothing short of remarkable, making us a dark horse in the face of these black swan events. Although a few negative incidents occurred in the industry, Bitget remained stable in our growth and took the opportunity to further strengthen our capabilities. Leo Messi also reminded us all that winning and building an everlasting business takes passion, perseverance and teamwork. The significant growth we have achieved is a testament to all the hard work and immense effort our team has put into the business.”
“As macro-liquidity continues to affect crypto market, the rise in interest rates is expected to gradually slow in 2023. The impact of the Fed on macro-liquidity will also continue to affect investors’ expectations for the crypto market. Additionally, the amount of TVL (Total Value Locked) in DeFi is expected to slowly increase in 2023. Regardless of the decline in value of popular blockchain tokens, number of active users, and new wallet addresses on chains like Polygon , Ethereumand BSC remained higher.”
“We believe 2023 will be a year full of opportunities and challenges, and our focus will remain on providing the best social trading and derivatives trading experience to our users. We will also continue to expand our spot markets and improve our overall capabilities to optimize the trading experience on Bitget. As the industry continues to consolidate and deleverage, and macroeconomic conditions improve, we will emerge from this crypto winter, thrive in the coming year, become a top performer and propel the industry forward.”
Bitget, established in 2018, is the world leader crypto derivatives exchange with a focus on copy trading, currently serving over 8 million users in over 100 countries worldwide. The exchange is committed to providing secure, professional and unique trading solutions to users and aims to increase crypto adoption through collaborations with credible partners. Bitget is exclusive crypto exchange partner with the legendary Argentinian footballer Lionel Messiand the official eSports event organizer PGL, as well as the first channel partner of leading Italian football team Juventus.
To protect user funds on the platform, Bitget adopts top-notch security and protection measures, including a $300 million Protection Fund, a fund custodial service, is committed to being fully reserved by the Merkle Tree Proof of Reserves model.
To learn more about Bitget, please visit https://www.bitget.com.
Show original content to download multimedia:https://www.prnewswire.com/news-releases/bitget-sees-largest-market-share-growth-after-ftx-bankruptcy-301725673.html