Leading global cryptocurrency exchange and Web3 company, Bitget, recently released its latest Proof of Reserve (PoR) report, with a total reserve ratio of up to 169%, demonstrating its commitment to complete transparency. This PoR report represents Bitget’s commitment to its users, ensuring that their funds are fully supported on a 1:1 basis and available for use as needed.
The reserve ratios for cryptocurrencies such as BTC, ETH, USDT, and USDC are regularly updated, highlighting Bitget’s commitment to providing a secure and transparent trading environment for its users. In addition to a robust reserve, Bitget has also established a protection fund and publishes its valuation monthly to further enhance user protection and mitigate potential risks.
Furthermore, according to Bitget’s monthly report for April 2024, the company has made significant progress in various aspects. Bitget’s contract trading volume increased by 146% in the first quarter of 2024, reaching 1.4 trillion USD. Data from CCdata shows that Bitget achieved the highest growth rate of 1.39% among the top 14 derivative exchanges, demonstrating continuous growth within the quarter.
Bitget continues to demonstrate its dominant position in the cryptocurrency contract market, with its Open Interest (OI) indicator surpassing 6 billion USD on May 4th, capturing 25% of the total market share. Currently, Bitget maintains a strong position with an OI of 6.22 billion USD. The exchange’s outstanding performance further indicates that its open contract volume exceeds the BTC market price level, suggesting that traders have a bullish sentiment towards Bitcoin’s price trend.
In April, Bitget witnessed an unprecedented growth in the number of new contract trading accounts, reaching a historical high of 23%. It is worth noting that 82% of these accounts were opened on the BTC-USDT trading pair. Impressively, BTC maintains a leading position in Bitget’s contract market with a holding volume consistently exceeding 60%.
Despite the general slowdown in cryptocurrency trading volume, Bitget’s spot trading volume increased by 34.8%, while contract trading volume rose by 61.9%. According to data from The Block, Bitget has become the leader in Open Interest (OI) share, surpassing 6 billion USD and capturing 25% of the total market.
By integrating 872 new tokens, Bitget has significantly expanded its asset selection, thereby increasing interest and trading volume. The newly launched PoolX platform, a staking mining service, has attracted a large number of participants with its high Annual Percentage Rate (APR). Tokens such as Kitten Haimer (KHAI), Dimitra (DMTR), Roost Coin (ROOST), and Nettensor (NAO) have performed exceptionally well, enhancing the popularity of PoolX.
Another new product in Bitget’s ecosystem is pre-market trading, which allows users to trade before the listing of new tokens. This feature improves liquidity and provides early entry opportunities for promising projects such as EigenLayer (EIGEN) and Merlin Chain (MERL).
Bitget’s achievements can be attributed to a series of innovative strategies, strong community expansion, cutting-edge product optimization, and a significant increase in market share in the cryptocurrency industry. The company’s pursuit of ecosystem expansion and introduction of new features consolidate its leadership position in the ever-evolving cryptocurrency field.
About Bitget:
Founded in 2018, Bitget is a leading global cryptocurrency exchange and Web3 company. Bitget currently serves over 25 million users in more than 100 countries worldwide, aiming to help users trade more intelligently through its pioneering copy-trading feature and other trading solutions.
The predecessor of Bitget Wallet, BitKeep, is a world-class multi-chain cryptocurrency wallet that offers a comprehensive range of Web3 solutions and features, including wallet functionality, exchange, NFT marketplace, DApp browser, and more. Bitget encourages the adoption of cryptocurrencies through collaborations with Argentine football legend Lionel Messi and official esports event organizer PGL.
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This article is provided by the official source and does not represent the position or investment advice of this website. Readers are urged to conduct their own careful evaluation.
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