HomeCryptoThe report of the Bitget exchange of May 2024: record capital inflows,...

The report of the Bitget exchange of May 2024: record capital inflows, new investments, and exponential growth

The report from the crypto exchange Bitget of May 2024 has been recently released and highlights a record capital inflow, the appointment of a new CEO, and the launch of the Token BWB, marking a significant turning point for the company.

Let’s see all the details below. 

Innovation and opportunities for investors of the Bitget exchange after the new records 

As anticipated, May was characterized by significant developments for Bitget, including the appointment of a new CEO, the launch of the token BWB, the start of the Elite Trader campaign, and the global celebrations of Pizza Day.

Additionally, Bitget has continued to excel in key metrics such as capital inflow, open interest, and web traffic, confirming its prominent position in the criptovalute sector.

According to the CCData report, while the combined volume of spot and derivatives trading on centralized exchanges decreased by 20.1%, reaching 5.27 billion dollars, the open interest on derivatives exchanges increased by 30.5%. 

Reaching 55.2 billion dollars in May. Bitget, one of the three main derivatives exchanges, recorded an increase in open interest of 39.2%, reaching 9.74 billion dollars. 

According to on-chain data from DeFiLlama, Bitget recorded the highest monthly inflow among all centralized exchanges in May, with 975.4 million dollars in new capital, consolidating its position as the industry leader.

Bitget has announced the appointment of Gracy Chen as the new CEO starting from May 2024, replacing Sandra Lou. Gracy boasts over 10 years of experience in business management, marketing, and investments.

Since joining Bitget as CEO in June 2022, she has led the company’s global expansion and quadrupled the user base through strategic partnerships and a robust affiliate network. 

She played a crucial role in transforming Bitget into one of the top five cryptocurrency exchanges. Additionally, Gracy is a passionate advocate for diversity in the cryptocurrency sector, promoting initiatives such as #Blockchain4Youth and #Blockchain4Her to foster the adoption of Web 3 and gender inclusivity. 

Bitget empowers traders and celebrates innovation with key initiatives

As mentioned, Bitget has launched the Elite Trader campaign to offer traders innovative tools and expert insights, improving accessibility, efficiency, and education for all users. 

Supported by five world-renowned cryptocurrency influencers, including Long, Annii, Matthew, Brain Bro Crypto, and David Justin Academy, the campaign highlights the exclusive features of Bitget. 

These include copy trading, staking, advanced analysis tools, and trading bots. The goal is to revolutionize the trading experience, helping traders confidently achieve their financial goals. 

Bitget also celebrated the first anniversary of the Blockchain4Youth program with recap videos of the initiative.

In one year, Blockchain4Youth has involved over 6,000 participants through 54 campuses and workshops globally, issuing more than 2,000 certificates to participants. 

Collaborating with influencers and 51 universities, including University College London and the National Technological University in Argentina, the program aims to promote the adoption of Web 3.0 among Millennials and Generation Z. 

Launched in May 2023 with a budget of 10 million dollars, the initiative plans to expand with additional scholarships and online courses.

In May, Bitget expanded its selection of assets by adding 62 new tokens to the platform, sparking significant interest and an increase in trading volumes. 

The main five tokens, including $TURBO, $MNTC, $CEL, $LIFEFORM, and $WOJAK, have recorded impressive gains between 260% and 1430%. 

Additionally, Bitget has listed 19 new tokens on the PoolX platform, attracting 120,381 participants who staked a total of 427 million USDT in May. 

These tokens have seen notable gains, with UDS at 86% and DOGEMOB at 26%, and significant increases in market cap for ATS (46%) and APRS (17%). The average APR of 10%-45% further contributes to the growing demand and the success of the product.

Bot for signals on Telegram and innovations in the wallet

Bitget has introduced a Telegram Signal Bot to revolutionize the dissemination of information on cryptocurrency trading. The bot allows group owners to easily share trading signals with followers, also offering monetization opportunities.

Thanks to the sharing of signals with a single click and powerful group management features, the bot aims to improve the quality and interaction in the groups. 

The beta testing, scheduled from May 27 to June 27, 2024, will offer incentives to participants who provide valuable feedback. 

Finally, Bitget Wallet has launched the Bitget Onchain Layer, integrating native DApps and establishing a BWB Ecosystem Fund of 10 million dollars to accelerate the development of Web3.

This new level aims to simplify user interactions and improve liquidity and security through Modular Feature-DApps (MFDs). 

Since 2018, Bitget Wallet has become a complete DeFi platform with over 20 million global users, surpassing MetaMask in trading volumes. 

The Onchain Layer will facilitate Web3 interactions, support developers, and offer new financial services, also focusing on the Meme ecosystem with initiatives such as the $MOEW token and a Meme token ranking.

In May, Bitget Wallet reached the first place in the security ranking of wallets by CertiK, surpassing Trust Wallet and MetaMask, highlighting its advanced security capabilities as a non-custodial Web3 wallet. 

With a particular focus on preventive measures, including the integration of MPC technology and “keyless” AA wallet and support for hardware wallets, Bitget Wallet addresses common issues such as the loss of the private key and the authorization of malicious contracts. 

Rigorous security checks and a comprehensive risk alarm system further enhance its security position.

Alessia Pannone
Alessia Pannone
Graduated in communication sciences, currently student of the master's degree course in publishing and writing. Writer of articles from an SEO perspective, with care for indexing in search engines.