Bitget’s Q3 Performance Report Shows Significant Growth Despite Bad Market Conditions
Bitget, a copy trading and crypto derivatives platform, has released its quarterly Transparency Report, highlighting its significant growth despite the market conditions.
Among the highlights in the Bitget Performance Report for Q3 of 2023 is the exceptional performance of Bitget’s native token, BGB. The token outperformed most platform tokens by market cap, ranking among the top 5. The BGB token rose from US$0.18 at the beginning of the year to a quarterly high of US$0.4927 in September.
Commenting on the performance, Gracy Chen, the Managing Director at Bitget, stated:
“The exceptional performance of BGB reflects Bitget’s strong commitment to accelerating crypto adoption with its DeFi and CeFi products in the ecosystem. We are dedicated to providing our users with innovative and secure trading solutions, and the growth of BGB is the result of the trust and support of our growing community.”
Notably, BGB’s great performance has been influenced by numerous factors, including the relaunch of the system’s launchpad that caused the token to record an all-time high of $0.5152 earlier in February. The report also outlined the significant increase in the number of BGB holders to 354,472 in Q3. In addition, the volume of BGB traded surpassed the $1.3 billion mark in the last three months.
The report points out overall growth within the Bitget ecosystem despite bad market conditions that have caused centralised exchanges’ spot and derivatives trading volumes to drop by 20.3% to $1.7 trillion in September. Bitget recorded one of the highest market shares during this period, rising by 9.43%.
The Performance Report also points it an increase in Bitget’s Protection Fund, which exceeded $300 million in the past quarter. The Fund reportedly provides an extra layer of security to users’ funds in addition to Bitget’s 200% Proof of Reserves.
Just recently, Bitget launched its $100M EmpowerX Fund, which is tailored to foster the ecosystem’s development. The fund is designed to enable the project to explore investment opportunities that align with the project’s growth trajectory.
In Q3, Bitget implemented its rebrand initiative that focuses on positioning the project as a leader in the industry. Bitget also formed strategic partnerships with key stakeholders, including Cointracking, Koinly, CCData, 3commas, Coinstats, Cobo Superloop. The project also seeks to expand its operations into the Middle East region with targeted areas including the UAE, Dubai, Bahrain, Abu Dhabi, and Ras Al Khaimah.
In celebration of its fifth anniversary, Bitget hosted the EmpowerX Summit in Singapore, bringing together over 1900 guests. The event provided a platform for participants to discuss the transformative nature of crypto and Web3 technologies. The keynote speakers included Tim Draper, Justin Sun, and Haseeb Qureshi.
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
For media inquiries, please contact: media@bitget.com.
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