As an analyst with over a decade of experience in the financial industry, I must say that the recent developments at Bitget are nothing short of impressive. Having closely followed the crypto market’s evolution, I can attest to the resilience and adaptability that this exchange has shown during both bull and bear markets.
Bitget Crypto Exchange has achieved a significant achievement as the total market value of cryptocurrencies exceeded $3 trillion, placing it third globally in terms of futures trading volumes. This milestone has coincided with record highs for derivatives trading volume, open interest, and daily active traders on the platform. Furthermore, the price of BGB token has continued its upward trend, rising by 22% over the past week.
Bitget Saw $77 Billion in Crypto Futures Trading Volumes
In the role of an analyst, I’d rephrase the statement as follows: On November 13th, according to a press release, Bitget, the cryptocurrency exchange I analyze, reported record-breaking figures in trading volumes, open interest, and daily active users. Specifically, the daily trading volume soared beyond $10 billion, while futures trading volume reached an astounding $77 billion.
Over the ‘Trump trade’ period, I noticed a 1.7% surge in total derivatives trading volume within the cryptocurrency market, reaching an impressive $1.51 trillion, as reported by Coingecko. As a crypto investor and enthusiast, it’s reassuring to see that platforms like Bitget, one of the leading exchanges, have been actively working on building a robust and resilient platform, especially during the challenging bear markets. This dedication from the CEO, Gracy Chen, gives us confidence in their commitment to navigating these market fluctuations effectively.
Through establishing trust and credibility, we’ve ensured transparency and security in our operations. As a result, Bitget has experienced remarkable growth over the past year, expanding from 20 million to 45 million users. This exciting journey underscores the growing need for dependable and accessible crypto trading services.
ATH Season!
Bitget hit all-time highs in trading volume, open interest, and daily active traders yesterday.
Most metrics doubled compared to the previous peak. Just the beginning! #BUIDL
— Gracy Chen @Bitget (@GracyBitget) November 13, 2024
The platform has grown its user community by emphasizing superior futures trading, enhancing liquidity, and prioritizing user-friendly experiences. Notably, it experienced a significant surge in both institutional and individual investors, thanks to its consistent delivery of smooth trading operations.
BGB Token Price Rallied 22%
On Tuesday, Bitget revealed the return of their platform to the UK, providing access to more than 150 different cryptocurrencies. This re-launch corresponds with the UK Financial Conduct Authority’s (FCA) guidelines for financial promotions. Recently, the exchange has also started the “Pitch n Slay” project as part of its Blockchain4Her program, aiming to empower female entrepreneurs in the Web3 sector.
After Donald Trump’s re-election as president, the combined value of all cryptocurrencies exceeded $3 trillion. This surge was spurred by Trump’s appointment of crypto-supportive figures like Elon Musk and Vivek Ramaswamy within his administration, which ignited a significant rally in the crypto market.
Bitget’s native token BGB price jumped 3% in the last 24 hours and 22% in a week. The price is currently trading at $1.44, with a 24-hour low and high of $1.39 and $1.45, respectively. However, the trading volume saw a 34% drop in the last 24 hours.
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2024-11-13 18:44