In this article we see which tokens were the most traded on Bitget in Europe in the last week by traders with KYC and/or IP address registered on the continent, without considering the kings and queens of the crypto market namely Bitcoin and Ethereum.
A report provided by the same exchange shows us all the data on the cryptocurrencies that had the most trading volumes within the Union in the period between 8 and 14 November.
The results are very interesting because we highlight the presence of a strong FOMO for what concerns the memecoin sector.
Also of note is how the BGB token, while not on the list of the most traded crypto assets in Europe, has seen significant price increases over the past two years, reaching a new all-time high just two days ago.
Full details below.
Summary
The 10 most traded tokens in Europe on Bitget in the last week excluding Bitcoin and Ethereum
Bitget produced a report yesterday highlighting what were the most traded tokens by traders in Europe over the past week.
We will not consider Bitcoin and Ethereum here, as they homogeneously represent the most traded cryptocurrencies on any exchange, since they are the two most capitalized in the crypto market.
We will focus instead on other altcoins, which on Bitget have visibly attracted the attention of users by registering significant trading volumes.
Among these, an honorable mention goes to the memecoin ORDI, which generated a spot trading volume of $44 million on Sunday, 12 November following a price rally that saw a 200% increase in just 7 days.
The extremely bullish price action for the coin also led European traders to hold long trading sessions during 9, 10 and 11 November in which a total of $87 million in trades was reached.
In second place is the TIA token belonging to the Celestia project, which closed the day with $31 million in volume on Monday, 13 November.
Again, TIA’s rapid price growth triggered strong trades across Europe, with a particular focus starting last Saturday when the crypto marked a +25% increase. Just a day earlier, volumes were about 6 times lower.
On the last step of the podium we see another memecoin, namely PEPE, which in the midst of the general rise of the market closed the last 7 days on Bitget recording trades of $48 million, with a peak in demand on Friday, 10 November.
In fourth and fifth place are TRB and AVAX with both tokens touching the $10 million volume level at least once in the last week.
In sixth and seventh place, on the other hand, appear DOGE and ADA, which despite more moderate trading activities, still surpassed $20 million in trading each.
Closing out the ranking of the most traded tokens on Bitget in Europe are LTC, LDO, and ARB, for which a significant increase in market volumes since 8 November should be noted
Bitget: market analysis of crypto BGB
On the volume front, the BGB token, i.e., the native cryptocurrency of the Bitget ecosystem, has not recorded particularly high numbers in Europe, where it has traded on its exchange for a total value of just $1.1 million over the past 7 days.
In any case, it is necessary to point out that this token has demonstrated its full potential over the past two years, in which at the height of the bear market it has seen its value grow more than 8 times!
BGB in November 2021 marked just $0.065 per unit while it now boasts a price of $0.53 for a market capitalization of $689 million.
Just 2 days ago Bitget’s token reached a new all-time high at $0.58 before flexing slightly downward to current levels.
In the short term, BGB’s price action is still bullish despite the fact that the RSI is near the overbought threshold and the asset may incur a mild correction phase.
Above the $0.5 level there is still a real chance that the crypto price will continue its upward climb.
On 13 November on Bitget the spot volume of the BGB-USDT trading pair, which takes into account trades that took place globally and not only in Europe, touched the $50 million mark.
On 7 November, on the other hand, the $100 million mark was exceeded, showing that the recent rally is accompanied by considerable buying and selling activity.
The Bitget brand is becoming increasingly popular within the crypto exchange world and is earning the respect of the industry’s biggies.
Various initiatives dedicated to the community and several onboarding promotions have contributed to the increase in active users on the platform, which has enhanced the value of the entire facility.
The BGB token has benefited from this as it has become an increasingly attractive resource for the exchange’s customers. Indeed, the coin can be used to obtain discounts on trading fees, to earn a yield through staking, or to participate in the launch of new projects through a launchpad.
Bitget is still a long way from competing with industry giants such as Binance and Coinbase, but its recent growth bodes well that sooner or later it will reach those levels.
In the long run, all scenarios are possible for a business as evolving as crypto exchanges. BGB and its native platform represent one of the most interesting ecosystems to monitor between now and the next bull run, which could likely occur following Bitcoin’s next halving.
Stay on top of it traders.
