Bitget Sees Highest Capital Inflow as It Records 39.2% Increase in Open Interest, Reaching $9.74 Billion

Bitget Sees Highest Capital Inflow as It Records 39.2% Increase in Open Interest, Reaching $9.74 Billion

Bitget, a prominent player in the cryptocurrency exchange and Web3 industry has successfully weathered the challenges of May. It has consistently held its position as a top derivative exchange, attracting significant capital inflow compared to other centralized exchanges. Additionally, Bitget has experienced sustained growth in open interest.

CCData’s report reveals that in May, the combined spot and derivatives trading volume on centralized exchanges experienced a decline of 20.1% to $5.27 trillion. This drop occurred during the Bitcoin Halving and BTC ETF events. On the other hand, there was a significant increase in open interest on derivatives exchanges, reaching a total of $55.2 billion, marking a 30.5% surge. Amidst these circumstances, Bitget witnessed an impressive surge of 39.2% in open interest, soaring to a staggering $9.74 billion. This achievement further cements its position as a prominent player in the derivative exchange market.

Bitget saw a remarkable influx of $975.4 million in capital in May, making it the centralized exchange with the highest one-month inflows. This data was obtained from DeFiLlama’s on-chain data. With this significant increase in funding, Bitget has solidified its position as a top player in the industry.

In May, Bitget significantly broadened its range of assets by adding 62 new tokens. This move generated much interest and led to a noticeable increase in trading volumes. Some of the best-performing additions, including $TURBO, $MNTC, $CEL, $LIFEFORM, and $WOJAK, experienced remarkable gains ranging from 260% to 1430%. This showcases Bitget’s proactive approach to adapting to market demands and emphasizes the potential for profitable returns within its ecosystem.

Furthermore, Bitget successfully added 19 new tokens to PoolX, garring the attention of 120,381 participants. These individuals eagerly staked a total of 427 million USDT throughout May. PoolX has recently listed 21 tokens, showcasing impressive gains from UDS (86%) and DOGEMOB (26%). Additionally, ATS experienced a substantial increase in market cap by 46%, while APRS saw a notable rise of 17%. The product’s growing demand and success can be attributed to its average annual percentage rate (APR) of 10%-45%.

In the past month, Bitget has experienced significant milestones. Gracy Chen has taken on the CEO role, and the BWB token has been introduced. A Signal Bot has also been launched on Telegram to enhance the sharing of crypto trading insights, and the Elite Trader campaign has also been initiated.

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