In the middle of cryptowinter, the market is bearish and volatility is at its height. Many operators and their users pay the price, in particular because of the freezing of withdrawals. Yet, despite the chaos, the dedicated team at Bitget manages to steer the exchange boat to its destination. It continues to record extraordinary growth and generate strong and recurring cash flow despite uncertain market conditions.
“What does the future hold for crypto exchanges? »
A research reportWhat Does the Future Hold for Crypto Exchanges(“What the Future Holds for Crypto Exchanges”) was recently published in collaboration with the Boston Consulting Group (BCG) and Foresight Ventures. It uncovers important trends in the development of the cryptocurrency exchange market, their role in shaping the Web3 economy, and offers some ideas for surviving a bear market.
The report also states that Bitget overtook FTX to rank third globally in derivatives trading volume. Indeed, since its global expansion in 2021, Bitget has grown rapidly and captured 10% of total global derivatives volume, primarily due to the popularity of its flagship social trading products, including its One-Click Copy Trade.
Social trading: the future of investing?
One-Click Copy Trade has been Bitget’s flagship product since its launch in May 2020. It has broken down the barriers of traditional trading models in the cryptocurrency market to bridge the gap between professional traders and individuals. Social trading is the innovation at the heart of the Bitget project. It allows followers and traders to interact across borders and chart their own interconnected path to financial freedom. To date, the One-Click Copy Trade program has over 55,000 professional traders copied by around 1.1 million followers. As the report indicates, the derivatives market is dominated by offshore exchanges. Bitget is no exception as it is one of the major players in Korea thanks to its popular One-Click Copy Trade feature among traders in the country.
The company recently announced the launch of a Bitget Protection Fund, worth US$200 million, as part of its ongoing efforts to ensure the security and protection of its users’ assets. The Bitget Protection Fund will ensure unparalleled security and a safe and secure trading experience for all Bitget users around the world. The fund will therefore be used to protect them and the Bitget exchange platform, while helping to open a new era of security and protection in the world of cryptocurrencies.
Bitget CEO Gracy Chen said, “We are extremely proud of how far Bitget has come. Being able to overtake some of the major players in the market is a testament to the dedicated contribution of the Bitget family. At the start of 2021, we had a small team of 150 people, and we have since tripled our headcount by mid-2022. To cope with flourishing growth, we recently announced the acceleration of our recruitment plan. While continuing to develop our product and service offering, we have also taken care to ensure that our users have a safe and secure trading experience. We look forward to many more milestones in the years to come, with the support of our trusted traders and partners around the world.»
To learn more about Bitget and its social trading offering, feel free to follow them on their website and on social media: TwitterTelegram, Instagram.
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