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Bitget Monthly Report of April 2024

Bitget Monthly Report of April 2024


April 2024 stood out significantly due to the Bitcoin Halving event and the introduction of BTC Spot ETF, which contributed to a surge in fund inflows. As the market navigated this momentum, Bitget witnessed growth in its futures trading volume, while its Bitget Wallet community eagerly anticipated the highly anticipated BWB airdrop. Furthermore, in terms of ecosystem expansion, Bitget launched PoolX and Pre-market for token listings and actively participated in events like BlockchainLife and Token2049 in Dubai. Notably, Bitget's spot trading volume surged by over 30%, accompanied by a remarkable 60% increase in futures trading volume, all within the span of April.

Monthly Highlights

Bitget Triumphed in Future Volume With 146% Increase

In the latest report from analytical firm CC Data, it has been revealed that despite a record-breaking trading volume of $6.18 trillion in March, crypto derivatives experienced a slight dip in overall market share. However, amidst this landscape, Bitget stands out with the highest gain of 1.39% among the top 14 derivatives exchanges.

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March proved to be a milestone month for Bitget, as it achieved record-breaking results. In Q1 2024 alone, Bitget's futures trading volume skyrocketed to $1.4 trillion, marking an impressive 146% increase and outpacing its competitors to emerge as a leader in the derivatives market. This remarkable performance underscores Bitget's commitment to excellence and its position as a trailblazer in the cryptocurrency exchange sector.

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Bitget Wallet Rolled Out BWB Points Airdrop

Bitget Wallet entered into partnerships with 77 platforms and Web3 projects including Pendle, Taiko, Aptos, Babylon, and Athena with an 11.7 million BWB airdrop campaign. Over 1.06 million addresses participated in their airdrop campaign, with 205 million BWB points distributed.

Bitget Blockchain4Youth Unveils COO Apprentice Program

Bitget launched COO Apprentice: Web3 Leadership Program in Europe, as a cornerstone of its Blockchain4Youth corporate social responsibility (CSR) initiative, presenting an exceptional opportunity for participants to dive deep into the realm of Web3. Under the mentorship of Bitget's top executives, including COO Vugar Usi Zade, apprentices will gain practical training and guidance.

Trading Volume Growth

Amidst a challenging landscape for cryptocurrencies in April, characterized by a slowdown in funds flowing into US spot ETFs and a notable decline in trading volumes, Bitget showcased remarkable resilience. Despite industry headwinds, Bitget's spot trading volume surged by 34.8%, while its futures trading volume saw an impressive increase of 61.9%, as per CoinGecko data.

Furthermore, insights from The Block indicate that Bitget has firmly established itself as a frontrunner in Open Interest (OI) within the crypto derivatives market. On May 4, Bitget's OI indicator surpassed the $6 billion milestone, commanding a significant 25% share of the total market. Presently, Bitget's OI stands at $6.22 billion, underscoring its dominance and strategic positioning within the derivatives sector.

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Bitget has significantly broadened its asset selection by incorporating 872 additional tokens into its platform, thereby stimulating notable interest and trading volumes. As a consequence of this expansion, the top 5 tokens have showcased remarkable gains ranging between 270% and 720%. namely $KMNO, $DOPE, $FOMO $DMTR and $PBUX. This data underscores Bitget's proactive approach to catering to evolving market demands and highlights the substantial potential for lucrative returns within its ecosystem.

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Bitget listed nine new listings on PoolX, captivating a staggering 133,800 participants staking 300M USDT and 180M BGB throughout April. PoolX platform's debut, ChatAI (CHATAI) hit an Annual Percentage Rate (APR) of 45.34%. Following closely behind were Kitten Haimer (KHAI), Dimitra (DMTR), Roost Coin (ROOST), and Nettensor (NAO). The average APR is 10%-45%, contributing to the product's increasing demand and success.

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New Feature and Integration

PoolX: 24/7 'Launchpool' Offering Hourly Earnings in New Tokens

Bitget's newly launched PoolX is a pioneering stake-to-mine platform, which allows users to stake specific coins to earn popular tokens easily without any hassle. Each PoolX project features one or more mining pools, with token rewards distributed hourly based on participants' staking volume. Compared to Launchpool, PoolX features more newly listed coins, making it a stake-to-earn platform that runs 24/7.

Pre-market: Buy Early Gems Before They Shine

Bitget launched its Pre-market, which aims to meet the demand for pre-listing trading of the latest tokens and enhance the liquidity and trading experience. It allows users to activate community trading interests and attract early adopters. By enabling pre-listing trading, users can gain early pricing power over the asset, making it easier to become the primary trading market for the asset once it is listed on various exchanges.

Launched in April 2024, Bitget's Pre-market offers users exclusive access to 7 projects including EigenLayer (EIGEN), Merlin Chain (MERL), Renzo (REZ), BounceBit (BB), Meson Network (MSN), and Zerolend (ZERO).

Crypto Connections Across the World Wide

April has seen a month of thrilling events spanning Talentland in Mexico to Paris Blockchain Week in France, culminating in Blockchain Life and Token2049 in Dubai.

At Talentland, Mexico's premier talent event, we were delighted to host thousands of young talents, engaging them with a range of booth activities and trading competitions.

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Following that, we made our presence felt at Paris Blockchain Week, showcasing a stunning futuristic booth featuring the Bitget Wallet. Our COO, Alvin Kan, joined us to unveil the exciting developments within our ecosystem. The highlight of the event was undoubtedly the glamorous afterparty held next to the Eiffel Tower, providing an unforgettable networking experience.

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Our journey concluded in Dubai for Blockchain Life and Token2049. Despite facing unprecedented floods during the week, we seized the opportunity to forge connections and embrace chaos as avenues for growth. We engaged with top partners at conferences and afterparties, including TRON, P2P, Surf Protocol, Quantstamp, Foresight Ventures, and many others.

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Must-Reads from Bitget Academy

In April, we released 60+ new educational pieces on Academy and Blog. Here's the must-read list:

1. #HotTopics: Real-World Assets (RWAs) Unpacked, Bitcoin's New Era: Runes Protocol, Base Blockchain Unleashed

2. #BitcoinHalving: Bitcoin's Fourth Halving' Recap

3. #BeginnersGuide: Introducing Bitget Pre-Market & Bitget PoolX