Bitget Monthly Report (Apr 2023): Launching Web3 Fund, Registration in Lithuania, and Updated BGB Whitepaper
Bitget
Summary
While crypto markets fluctuated in April, Bitget forged ahead — investing in crypto's future, expanding its global footprint, generating insights into drivers of mainstream adoption, and enhancing BGB's utility and value with a new roadmap and updated white paper.
Bitget made major moves this month indicating its dedication to driving blockchain progress. Bitget established a $100 million Web3 Fund to back pioneering crypto projects. The exchange completed its cryptocurrency registration in Lithuania, allowing the exchange to extend its services to new regions and users worldwide. The exchanges received a $10 million strategic investment from Dragonfly. These are important steps forward in our goal to expand our global presence and offer our services to users all around the world, and support our work to build a robust platform and ecosystem.
Bitget also published an in-depth study exploring how demographic changes shape cryptocurrency adoption across generations. Analyzing factors like age, location, and fertility rates yields insights into the relationship between population trends and crypto's mainstream momentum.
Monthly Highlights
Web3 Fund Launch: Bitget Supports Next-Generation Crypto Projects in Asia
Bitget launched its Bitget Web3 Fund during the Hong Kong Blockchain Week, with an initial investment of $100 million. The fund will focus on investing in Web3-friendly venture capital and outstanding Web3 projects, with the goal of supporting the development of the next generation of crypto projects.
The Bitget Web3 Fund will seek out VCs and projects globally but prioritize partners in Asia that have a clear roadmap and an experienced team, and those that offer innovative solutions to real-world problems. As of now, it has received inquiries from VCs including Foresight Ventures, Dragonfly Capital, SevenX Ventures, DAO Maker, and ABCDE Capital for potential partnerships.
Bitget received $10 Million Strategic Investment from Dragonfly
Dragonfly, a global crypto-focused venture capital firm, has made a $10 million strategic investment in Bitget. The investment will support Bitget's ongoing global market and service range expansion, as well as its coming CSR initiatives aimed at increasing crypto education and adoption.
With this latest investment, Bitget will continue expanding its product offerings, as well as its global initiatives to inspire more individuals to embrace crypto. In the past two years, Bitget has established partnerships with legendary Argentinian footballer Lionel Messi, and the leading Italian football team Juventus. The platform plans to launch more educational campaigns to drive crypto mass adoption through entertainment.
Bitget Completes Crypto Registration In Lithuania
Bitget has completed its crypto registration in Lithuania. This registration will allow the company to offer crypto-related services in or from Lithuania in compliance with regional laws and regulations.
The registration will enhance Bitget’s international reach. Lithuania is a well-known haven for cryptocurrency and blockchain projects and is one of the leading countries in the EU in terms of crypto legislation formation. Such an environment makes the country a favorable hotspot for cryptocurrency enthusiasts and a favorite location for companies seeking to register legal entities for crypto-related businesses.
Bitget Study Reveals Millennials and Gen Z Tend to Build a More Crypto-favorable Society
Bitget, the top crypto derivatives and copy trading platform, has released a groundbreaking study on cryptocurrency adoption rates among different generations. Analyzing over 255,000 survey responses from 26 countries, the research reveals that Millennials constitute the largest group of crypto enthusiasts, accounting for 46% of respondents. The study also highlights the influence of government regulators' representation on the likelihood of crypto-favorable social changes. Additionally, the research indicates that Millennials and Gen Z adults show high interest in cryptocurrencies due to their familiarity with digital technologies and their perception of cryptocurrencies as attractive investment opportunities.
This research provides valuable insights for various stakeholders, including crypto-tech companies, government organizations, and
crypto exchanges, aiding them in gaining a competitive edge. The study also indicates a slowdown in population growth in the surveyed countries, raising concerns about potential rejection of cryptocurrencies. However, as the population dynamics change, with the decline in the share of Baby boomers and Gen Xers, the study anticipates a shift towards innovation and the rehabilitation of solutions beneficial to society, fostering a more progressive approach to technology adoption.
Business Growth
Remarkable performances of New Listing
Bitget is making a push in
spot trading service with a series of new listings. In April, 21 new tokens were listed on Bitget. Two of them outpaced with gains of over 2000%.
Bitget Copy Trading continues to gain popularity
Bitget Copy Trading has seen significant growth due to its unique features and user-friendly interface. Our platform allows users to copy trades of elite traders, helping new traders learn the ropes and make profits from their investments. This April, we have attracted over 6000 new elite traders and over 50000 new followers, both double the numbers we had in January this year.
New Products and Features
BGB Released Updated White Paper and available on Bitfinex
Bitget released an
updated whitepaper edition for its native token BGB. The new document outlines the advantages BGB provides as a utility asset within the framework of the Bitget platform and the benefits holders can expect to receive. BGB also got listed on Bitfinex, driving liquidity and accessibility while increasing its value and utility.
The updated BGB token whitepaper reveals the roadmap of the asset's development, outlining the use case scenarios and economics it will be based on. The innovative side of the asset is described in full throughout the document, including a number of utilities under development, which aim to bring more benefits to BGB holders. Among the features in question are the BGB lottery, a trial fund for
futures trading, zero withdrawal fee, and exclusive earning services. As part of the token's economic side, a BGB buyback and burn mechanism are also being considered to reduce the token's circulating supply and eventually boost its value.
Bitget Supports Liquid Staking Derivatives As Collateral For Futures
Bitget announced the addition of
Liquid Staking Derivatives (LSDs) as a margin option for Bitget Coin-margined Futures, making it the first centralized exchange to provide such products on the market. This new feature will allow traders to continue earning staking rewards while also utilizing their staked assets for trading purposes.
Bitget Simplifies Crypto Purchase with Bank Cards On-Ramp services
Bitget launched a new on-ramp service specifically designed for
purchasing crypto using VISA and Mastercard. The new solution is meant to provide a higher degree of convenience for users seeking to inject fiat liquidity into the platform for their operations. The launch will be marked by a prize giveaway event.
The launch of the new on-ramp service comes as Bitget is expanding its global operations and attracting new audiences of users. The new service will support more than 140 fiat currencies and will allow their use for direct purchase of USDT, BTC, and BGB via credit or debit card on the Bitget exchange platform.
Copy Trading API & Insight Sharing Features optimized
We are constantly striving to improve and offer our users the best possible experience. That's why we've also been optimizing different features on our platform, such as our Copy Trading API and Insight Sharing feature. Additionally, we have introduced new features such as Futures Trading and our Liquidity Mining program to meet the evolving needs of our users.
BGB staking service
Bitget has launched a BGB staking service that allows all users to enjoy a better experience. With this service, users can stake BGB and withdraw their assets with zero withdrawal fees. The number of daily zero fee withdrawals is based on the staking level, which ranges from one for Level 1 to 100 for Level 5, with corresponding staked BGB amounts from 2,500 to 1,000,000. The service supports all coins except for burn coins and BTC on the BTC network, with staked BGB providing a 2% APY and interest distributed to users' spot accounts daily.
Driving Crypto Adoption
To make more people understand crypto and enjoy benefits along with the development of the industry, Bitget actively participates in various events and shares insight with audiences beyond the crypto world. Look at these special events with Bitget this April.
Bitget joined Foresight 2023 Hong Kong Summit
Moreover, Bitget was the title sponsor of the Foresight 2023 Hong Kong Summit on April 10th. Over 2700 guests attended, and we achieved an impressive online impression of 12 million. Our Managing Director,
Gracy Chen, also participated in a fireside talk on the topic of "Hong Kong, from financial center to Web3 Land." This is a reflection of our commitment to not only excel in the industry but also to actively contribute to the development of the blockchain community.
Deep look with our Managing Director, Gracy Chen
5 Ways the Cryptocurrency Ecosystem Can Learn from its Mistakes and Appeal to the Masses | Entrepren
Bitget Academy articles
Accelerate your trading journey with Bitget Academy's in-depth guides, practical tips, and market updates!
Over 60 new educational articles are published in Bitget Academy, and here are the selected ones for April 2023:
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