Bitget is currently the second-largest crypto exchange in terms of the number of users and trading volume.
The Crypto exchange trails Binance and expanded by 400% in 2024 according to the 2024 transparency report by the exchange.
Bitget hit 100 million global users in 2024 with trading volumes surging to new heights.
The exchange’s daily volume doubled to $20 billion and spot trading volumes expanded from $160 billion in the first quarter to $600 billion in the fourth quarter of 2024.
Gracy Chen, CEO of Bitget reacted to the report revealing the effort the crypto exchange put in for its numbers.
“ Over the past six years, with the robust foundation we’ve built and an incredible team by my side, Bitget has transformed into a leading crypto platform,” Chen Said
Bitget is a serious rival to Binance which retains the top spot. The rivalry was mirrored in their choice of global ambassadors featuring two of the greatest footballers in history locked in a never-ending rivalry.
Binance went with Ronaldo, while Bitget chose Lionel Messi. An interesting turn of events.
Geographical Expansion
Bitget’s success last year can be traced to its global expansion into various jurisdictions. The exchange saw its dominance in East Asia decline by 90% but growth in other parts of the world made up for the loss.
South Asia, Southeast Asia, and Latin America saw significant growth. South Asia’s market share tripled to 15%, while Southeast Asia grew to 12% of total users.
Bitget Wallet recorded an astronomical rise in users in 2024. The wallet user base surpassed 60 million users, a 300% growth in 2024.
Bitget’s Native Token surges by 1000%
The success of Bitget is reflected in its native token BGB which rallied by 1000% in 2024.
The token reached an all-time high of $8.45 last year in December and is currently exchanging hands for $7.18.
The Bitget team is looking to get into the Gamefi sector making a strategic $30 million investment in The Open Network (TON) blockchain.
The development mirrors the platform’s drive to pivot into new territories and expand its utility.
