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BGB Sail: April Edition

BGB Sail: April Edition

Our BGB Sail Series provides an in-depth analysis of BGB performance, together with a recap of the market situation at the end of each month.

Bitget Annual Briefing 2022-23 can be found here: Part 1 / Part 2 / Part 3.

Market Summary

April looks like a cooling-off period. Data from The Block shows that the monthly volume of Bitcoin futures on CEXs went down by nearly 30% to US$901 billion, while the Open Interest of such contracts decreased slightly by 1%.

BGB Sail: April Edition image 0

Source: lars0x

The same happened to most CEXs’ spot markets. However, it is worth noting that while the aforementioned drop in BTC futures volume didn't cancel out the so-called market progress we've been witnessing since the new year, April spot volume is only slightly higher than December 2022’s levels. These figures are still way above those of the bull run in 2020, though.

BGB Sail: April Edition image 1

Source: lars0x

Does it mean that people are, once again, turning their back on crypto? Sorry sceptics, the answer is a firm no. A research by the Deutsche Digital Assets discloses an annual growth rate of approximately 87% for verified crypto users, with the latest stand of 420 million as of April. Don't skip the term ‘ID-verified' a.k.a KYC’ed; the majority of crypto activities take place on-chain, where anonymity is valued (almost) above anything else, hence the actual adoption rate must definitely be higher.

BGB Sail: April Edition image 2

Source: Deutsche Digital Assets

Besides Bitcoin and Ethereum, USDT should be the one token owned/acquired by most crypto beginners. Why? Because it is easier to get on-/off-ramps, and USDC is most popular in the U.S.

BGB Sail: April Edition image 3

Source: Kaiko Analytics

Being good at its job as a stablecoin, USDC has been more successful at sticking to its peg since late March. On the other hand, USDT has been trading at a premium on CEXs for the last two months, meaning general market participants are holding USDT in higher regard than USDC. After the collapse of Terra (LUNA) as well as a prolonged bear market in 2022, USDT is the only one to have regained its pre-Terra market cap of over US$80 billion. It still dominates the stablecoin market, especially with BUSD dead as Binance is under scrutiny and TUSD, the stablecoin promoted by Binance, showing liquidity weaknesses with its depeg on May 02 as a result of heavy borrowing pressure in DeFi.

On a side note, the European Parliament had voted on the passing of their landmark Markets in Crypto-Assets (MiCA) on April 20, 2023, with 517 votes in favour, 38 against, and 18 abstentions. This allows MiCA to take effect in around Q3 2024 and EU to score a first-mover advantage when it comes to crypto regulation. The main focus of MiCA revolves around the oversight of crypto asset service providers (CASPs), which include any company that offers crypto and crypto services even if they are not the issuer of a token. NFTs and crypto lending are not explicitly covered by MiCA, but stricter stablecoin regulations are to be expected. Around the same time, the U.S. House of Representatives released a discussion draft bill on stablecoins with no official notice. Key points of this draft bill include the registration of stablecoin issuer(s) with the Federal Reserve (FED), a two-year ban on stablecoins without physical backing, interoperability standards for stablecoins and a request for FED's study of a digital Dollar.

BGB Performance in April

BGB volume remained steady for most of April compared to the volatility spotted in March. It is safe to say that we have finally reached a period of stabilised growth in BGB demand: BGB April volume equals 3.3 times that of January, 1.7 times the average BGB volume in Q1 2023 and 2.7 times the average of Q2 2022.

BGB Sail: April Edition image 4

Data source: Yahoo Finance, CoinGecko

BGB price has constantly been following an upward trend. Looking at the 7DMA, it’s easy to spot out the similarities between January and April - first and foremost a consistent increase in prices on a weekly basis, then a small correction before the sudden upsurge. The tight weekly range, demonstrated by the difference between each week's high and low, over the course of January - early February and late March - mid April can be considered a stepping stone towards new breakouts, and eventually to new highs; it is a reflection of traders' expectation. Trend lines for weekly highs and lows are also predicting higher BGB prices towards the remainder of the year, which is set in motion by the boundless development of Bitget.

The release of the official BGB White Paper must have helped many BGB supporters reaffirm their faith in this wonderful token. It is accompanied by a series of celebrating events, including the BGB Lotto, BGB Staking, 40% APY BGB pool on Bitget Launchpool, and the BGB exclusive trading and referral promotion. BGB holders will soon be able to receive new tokens for FREE - the event is set to begin on May 23, 2023 and share 80,000 BGB in our BGB Super Airdrop Campaign!

A new VIP system has also been introduced to give BGB diamond hands extra privilege in our ecosystem. To join our VIP group, you can either hold 50,000 USDT in your Bitget spot account or 100,000 BGB (around US$40,000 at the time of writing)! Benefits are the same but favourable requirements are applied for BGB holders as our way of saying thank you. Become a VIP today simply by owning BGB!

See yourself how BGB has repeatedly impressed the whole market with its splendid performance:

BGB Sail: March 23 Edition

BGB Sail: February 23 Edition

BGB Sail: December 22 Edition

BGB Sail: November 22 Edition

BGB Sail: October 22 Edition

BGB Sail: September 22 Edition

BGB Sail: August 22 Edition


The flourishing of Bitget is undeniably integral to BGB's victory. Public recognition and customer satisfaction motivate us to relentlessly work on product improvements and developments to bring about the best crypto experience to users worldwide.

Spot Futures Activities

In contrast to the market-wide correction, Bitget futures volume only experienced a decrease of 16.6%, with Bitcoin dominance rising to 66.3% from last month's 66.2%. Meanwhile, Bitget spot volume recorded a joyful uptick of 12.9%, beating many other exchanges with our fantastic finds and exclusive initial listings.

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For anyone not yet joined the world of crypto, our Welcome Package for new traders is boosted by 20% to 5,005 USDT! Register here and complete the tasks in the Bitget Rewards Center to claim it all!

Earning With Bitget

We have been continuously expanding the variety of investment products on Bitget, with Bitget Range Sniper being the latest introduction. The lowest APR on Bitget Range Sniper up until now is guaranteed at 20% despite your speculation of market sentiment, and that's why Bitget Range Sniper has become the new obsession of many investors.

Bitget Range Sniper differentiates itself from other earning schemes on Bitget in that the asset to be paid out is flexible. In case the market moves in the opposite direction to your prediction, you'll get the payout in Bitcoin or Ethereum, which is perfect because you can hold them and lock in the profit once prices go up. If prices progress in line with your expectation, your profits will be realised immediately by the payout in USDT. You win, either way.

Also allowing investors and technical analysts to ride with the waves is Bitget Smart Trend. Bitget Smart Trend is principal-protected, which means investors have the opportunity to place a bet on BTC/ETH prices of the next seven days without worrying about losses at settlement. You can subscribe to Bitget Smart Trend with Bitcoin or Ethereum or USDT, but the gains are distributed in the form of the asset you use to subscribe.

Now back to Bitget SharkFin, the original capital-guaranteed structured investment product. There are four rounds of SharkFin in April, each with full options of earning BTC from BTC deposit, earning BTC from USDT deposit, earning ETH from ETH deposit and earning ETH from USDT deposit. 100% of the cases ended up in the Shark Scenario, which is the scenario with much higher APR, hence subscribers turned out to be winners all the time.

BGB Sail: April Edition image 6

If you are an owner of BGB and/or interested in new tokens, you must check out the mighty Bitget Launchpool, which is designed to conclude in five days to avoid any radical changes in the reward tokens’ prices. Over 80,000 USDT in reward tokens have been distributed to Bitget Lauchpool subscribers of the April pools, and that comes from three rounds of farming (stake BGB/DOT to earn CAPS, stake BGB/BTC/ETH to earn DEGEN and stake BGB to earn BGB) only.

BGB Sail: April Edition image 7

Bitget Launchpad and Bitget Innovation Zone are a powerful duo offering endless earning opportunities for investors. The first IEO round of Q2 2023 - GoSleep (ZZZ) - is completed on the awesome Bitget Launchpad. Combining the unique Sleep-To-Earn concept with the power of Arbitrum, GoSleep is expected to be this year's mega project. The ZZZUSDT pair has been listed on Bitget Arbitrum Zone since April 17 with a high of nearly US$2!

New to Bitget? Check out the below guides and you can start earning right away!

Bitget Range Sniper | Bitget Shark Fin | Bitget Dual Investment | Bitget Smart Trend | Bitget Launchpool

Join us now on these bountiful events:

More rewards for inviting friends: 40,000 USDT and iPhone 14 Pro

Bitget Super Airdrop: Share, Deposit, and Referral, Win Big from 80,000 BGB!

Ordinals(ORDI )listed on Bitget:Deposit to share 1000 ORDI and 50,000 BGB!

FitBurn (CAL) Savings is UP, Subscribe Earn up to 80% APR!

Win a Spot Copy Trading welcome gift, grab a share of 10,000 USDT, and get a 10% raise on ROI!

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Copy trades of new pairs, unlock $21,000 in USDT! UMAUSDT is available on One-Click Copy Trade

Join the Paycoin (PCI) promotion to grab a share of 2,000,000 PCI and 30,000 USDT

Join the Launchpool to share 200 billion PEEPO

Bitget X CoinBureau Trading Competition: Exclusive 15,000 USDT Promo and 40K Extra Bonuses!

Deposit to List: Poolz Finance (POOLX) - Deposit and Share 6,000 POOLX Rewards!

Bitget Will List Kaspa (KAS) in the Innovation Zone - Share 150,000 KAS + 5,000 USDT Rewards!

[Initial Listing] Bitget Will List BIP1 (BIP1) in the BRC20 Zone

Simply create an account, and start exploring the incredible Bitget-Verse today!

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