In a recent monthly transparency report, a leading cryptocurrency exchange and Web3 company detailed its ecosystem's impressive performance for November 2024. The crypto market experienced a significant upswing, with Bitcoin's price surging past $106,000. Mirroring this all-time high (ATH) trend, the exchange's native token, BGB, saw an impressive rise from approximately $1.44 to $1.70, an increase of about 18%. This upward momentum was fueled by the company's global expansion and substantial increases in trading volume, user engagement, and platform security, particularly its jump to become the world's third-largest exchange for global futures trading.
The platform now serves over 45 million users, with a daily trading volume reaching $10 billion. Its USDT-margined futures volume skyrocketed to $16 billion, while daily spot trading volume doubled to $400 million. In a remarkable show of strength, its Protection Fund grew from over $400 million to exceed $600 million, providing robust support for platform security and helping to bolster user confidence.
Standout Performers and New Listings
November saw remarkable growth for several top-performing spot tokens on the exchange. The token UNICE led the pack with a staggering growth rate of 2,666.71%. Furthermore, 13 new tokens were listed on the platform's Poolx, with five of them also being made available on its Pre-market. This dual-listing approach highlights the popularity of these assets and provides users with multiple avenues for engagement.
Initiatives Fostering Inclusion and Innovation
The company hosted the "Pitch n' Slay" event in Bangkok. As part of its Blockchain4Her initiative, this competition provides female entrepreneurs in the blockchain space with access to pathways, capital, and mentorship. Participants also had the opportunity to secure funding of up to $100,000, backed by Foresight Ventures. Pitch n' Slay exemplifies the power of collaboration in creating inclusive pathways for women in blockchain, aligning with the company's commitment to fostering diversity and a thriving ecosystem.
In a move to enhance accessibility, the exchange introduced Vietnamese Dong (VND) bank transfers for its users in Vietnam. This allows users to deposit VND via VietQR, withdraw funds via bank transfer, and use the platform's cash conversion feature to purchase popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), USDT, SOL, and BGB.
The associated Web3 wallet launched a comprehensive memecoin trading toolkit. This suite of tools empowers users to discover high-potential tokens, analyze key data, and execute seamless trades across multiple blockchains. 👉 Explore advanced trading toolkits
Additionally, the platform introduced a Refer2Earn program, offering users a way to generate passive income. It also unveiled a $20 million support program for Telegram mini-apps to encourage developer creativity and drive innovation within the Telegram ecosystem.
This strong performance underscores the exchange's position as a leading global player in the cryptocurrency industry. The company continues to focus on innovation, user engagement, and market expansion within the rapidly evolving crypto space. It aims to continually serve as a bridge connecting centralized finance (CeFi) with decentralized finance (DeFi), thereby expanding the reach of decentralized financial services.
Frequently Asked Questions
What contributed to Bitget's growth in November 2024?
The growth was driven by a bullish crypto market, with Bitcoin reaching new highs, alongside the exchange's own global expansion efforts. Significant increases in trading volumes, particularly in futures, and a larger user base were key factors. A major boost in its Protection Fund also enhanced user trust.
How does the Protection Fund work to secure user assets?
The Protection Fund is a self-insured pool of capital that acts as a safety net for users. Its substantial growth to over $600 million provides a financial guarantee against potential threats, showcasing the platform's commitment to security and risk management.
What is the Blockchain4Her initiative?
Blockchain4Her is a dedicated program aimed at promoting gender diversity and inclusion within the blockchain industry. It supports female entrepreneurs through initiatives like pitch competitions, providing them with essential funding, mentorship, and access to a supportive network.
What new features were added for users in Vietnam?
The exchange integrated Vietnamese Dong bank transfers. This allows users to deposit and withdraw the local currency easily using VietQR and bank transfers, simplifying the process of converting cash into major cryptocurrencies directly on the platform.
What tools are available in the new memecoin trading toolkit?
The toolkit provides users with a suite of features designed for the memecoin market. It includes tools for discovering emerging tokens, analyzing on-chain data and market trends, and facilitates smooth trading across various supported blockchains.
How can developers benefit from the Telegram mini-app support program?
The $20 million support program is designed to incentivize developers to build and innovate within the Telegram ecosystem. It provides financial backing and resources for creating mini-applications, fostering new use cases and growth on the platform.