As the overall crypto market continued to face volatility and negative tailwinds, many crypto operators suffered, while many of its users also had to bear the brunt of the situation, facing issues such as withdrawal freeze.
Benefiting from a solid foundation and a dedicated leadership team, Bitget, the leading global derivatives exchange, has continued to record tremendous growth and generate strong and recurring cash flow despite uncertain market conditions.
In a recent research report issued in collaboration with Boston Consulting Group (BCG) and Foresight Ventures, titled “What Does the Future Hold for Crypto Exchanges”, unveils substantial development trends in crypto trading markets, its role on enabling the Web3 economy and shares insights on how to navigate the crypto space during a bear market.
It was also noted that Bitget’s derivatives trading volume has exceeded that of FTX, ranking third globally.
Moreover, as quoted in the report, since its global expansion in 2021, Bitget has since grown rapidly, and captured 10% of the total global derivatives volume, predominantly due to the popularity of its flagship social trading products, most notably the One-Click Copy Trade product.
Since its launch in May 2020, Bitget’s flagship product, One-Click Copy Trade, has broken the mould of trading patterns in the crypto market, bridging the gap between traders from all corners of the world, in addition to elite traders and their fans.
Thus, a social trading pattern has been forged into Bitget’s core, where followers and traders can interact without boundaries and carve their own interconnected path to financial freedom.
To date, Bitget’s One-Click Copy Trade has amassed over 55,000 professional traders, with approximately 1.1 million followers. As noted in the report, derivative markets are dominated by offshore exchanges with Bitget as one of the leading players in Korea due to its popular one-click copy trading feature among traders in the region.
Most recently, Bitget also announced the launch of the US$200 million Bitget Protection Fund, as part of its continued efforts in prioritising security, ensuring its users’ assets are safeguarded. The Bitget Protection Fund was created with the goal to provide unparalleled security and to ensure a secure and safe trading experience for users around the world. The fund will ultimately act as a safeguard for Bitget users and the Bitget trading platform, while also helping to usher in a new era of safety and protection in the crypto space as a whole.
Gracy Chen, the Managing Director of Bitget, said, “We are extremely proud of how far Bitget has come. To be able to surpass some of the leading market players is a testament to the dedicated contribution of the Bitget family. In the beginning of 2021, we had a small team of 150, and have since achieved a threefold increase in mid 2022. To cater to a burgeoning growth, we recently announced the acceleration of our hiring plan. As we continued to expand our product and service offerings, we also took the effort to ensure our users had a safe and secure trading experience. We look forward to reaching many more milestones in the years to come, with the support of our trusted traders and partners across the globe.”