Bitget Monthly Report (Oct 2023): Celebrating Bitcoin Whitepaper Day Amid Market Recovery
October 2023 was a month of recovery for the crypto market with Bitcoin and Ethereum leading the charge. However, the market's inherent volatility and external economic factors continue to pose challenges for a more sustained and robust recovery.
Despite the ups and downs in the market, Bitget's month-over-month efforts in developing the future of crypto have continuously empowered people throughout the globe. As spooky as October can get, the month was full of momentum and growth for Bitget. Right from supporting and investing in blockchain-based startups, to listing hot tokens, onboarding thousands of new copy-traders and driving adoption through events and activities, Bitget did it all.
In case you missed it, let's take a look at some monthly highlights, business growth, listings, product updates, and events for the month of October.
In the month of October, Bitget deep dived into a comprehensive study, on the financial objectives, ambitions, and investment behaviors of cryptocurrency investors. This encompassed surveys from over 20 diverse nations and provided insights on market sentiments - understanding why people invest in crypto.
Gracy Chen, Managing Director at Bitget, was honored with the invitation to join Forbes Business Council. An interactive hub for top industry leaders, entrepreneurs, and business minds to share ideas, resources, and experiences where she plans to present on topics such as crypto and blockchain.
Uveiling of Blockchain4Youth U30 Hackathon Winners and Bitget Builders Program launches second phase
In October, Bitget concluded its Blockchain4Youth U30 Hackathon as it unveiled top winners who secured funding under the $10 Million Blockchain4Youth Fund. With this the second phase of Bitget Builders program was launched. The first phase of the program, launched in August was a massive success which prompted us to open another round of recruiting for the program. In the second phase, the aim is to recruit 100 young talents in Q4 2023, with a focus on countries including the UK, Canada, Australia, Philippines, Kenya, Egypt, Morocco, Argentina, Mexico, Venezuela, Colombia, Peru, Bulgaria, Czech Republic, Romania, Kazakhstan, India, Sri Lanka, and Saudi Arabia. Participants in the Bitget Builders Program gain insights into trading strategies, market analysis, blockchain technology, and other relevant topics through webinars and online training courses conducted by industry experts.
Bitget released a Q3 2023 report, highlighting the growth of its market share. The report outlined details of Bitget's growth and perseverance despite the decline in global market cap. Bitget and Bybit saw the highest market share growth in September. Bitget increased asset diversity with a total of 69 new assets in Q3 while its native token BGB outperformed most tokens in the quarter and became the Top 5 CEX tokens by market cap. Bitget unveiled its expansion plans into the Middle East region and hosted multiple programs such as KCGI competitions, EmpowerX Summit, and Smart Awards!
Last but not the least, Bitget celebrated Bitcoin's 15th Whitepaper Day with street performances in Austria and Taiwan. A bustling street in each region was selected to host a statue performer dressed as Satoshi Nakamoto, holding a Bitcoin Briefcase. The performance captured the attention of passers-by and acted as a powerful media attraction, subsequently amplifying its presence on social media and further boosting the event’s visibility.
Bitget recently added more than 25 new exciting tokens to its platform, including BIGTIME, XOR, JOY, and JOECOIN. These listings have sparked tremendous interest and trading activity, with many of the listed tokens experiencing price surges exceeding 200%. Among them, BIGTIME stands out with an exceptional performance, as its price surged by an astounding 1757%. In addition to this, the platform listed T2T2, the Web3 social platform on its Launchpad. This aligns with Bitget's vision of enabling customers to discover the latest innovative assets on the platform, such as leveraged tokens, AI tokens, GameFi projects and upcoming Web3 social networks.
Copy Trading Highlights
Bitget retains its position as the largest crypto copy-trading exchange worldwide, evidenced by an impressive influx of over 4,000 elite traders who contribute to the thriving trading ecosystem. Continually expanding its influence, Bitget attracts more than 20,000 new followers seeking insights from experienced traders. Remaining steadfast in its commitment to profit-sharing, Bitget's traders have collectively earned over 400,000 USDT. Notably, Bitget's followers have achieved remarkable profitability, accumulating over 10 million USDT in total profits from their trading endeavors. The platform's success is further underscored by the execution of over 2 million profitable trades, a testament to the efficiency and effectiveness of the Bitget trading platform.
New Products and Features
Bitget launched Futures Quant represents a pioneering leap in intelligent investment tools. Leveraging advanced AI technology and sophisticated algorithms, this feature provides users with premium portfolios and informed investment decisions. The Futures Quant transcends conventional limitations, adapting intelligently to various market conditions. This innovative bot comes packed with distinctive features such as Automated Intelligence, Precision Trading and Risk Control. Bitget's Futures Quant taps into a vast database encompassing cryptocurrency market fundamentals, on-chain data, account trading statistics, and various metrics. By considering factors such as an investor's financial situation, risk appetite, and financial goals, it tailors investment strategies through sophisticated data modeling and backend algorithms.
For users to maintain custody of their assets and manage their financial assets securely, Bitget Wallet launched a "keyless" MPC (Multi-Party Computation) Wallet solution. Leveraging enterprise-level MPC technology, Bitget MPC Wallet aims to offer users a seamless Web3 Wallet experience that boasts industry-leading security parameters. One of the fundamental characteristics of an MPC wallet that sets it apart from conventional and mainstream EOA wallets is the elimination of the need to store or memorize complex mnemonic phrases and private keys, hence providing a "keyless" user experience.
The integration offers an enhanced user experience. With just a single tap, users can seamlessly navigate to the Core mainnet. A user-friendly interface aids the wallet users in obtaining their mainnet address and managing Core tokens easily, be it receiving or transferring assets, all within the robust features of Bitget Wallet.
GMX, the decentralized perpetual futures trading protocol, collaborated with Bitget Wallet to integrate it as a recommended wallet to access the GMX platform. Users can perform on-chain spot and leveraged trading, as well as participate in staking and liquidity mining, by connecting their Bitget Wallet browser extension to the GMX front end.
A new incentive program for spot market makers was launched in October. The program provides incentives such as trading fee rebates and monthly rewards for partners that contribute to the liquidity of Bitget Spot Market. Bitget's competitive rebate rates stand out as the top feature, offering up to 0.015% in rebates. To provide recognition and support for market makers, Bitget also implemented a scheme granting monthly subsidies to the best performers, adding an extra layer of incentivization to the program.
Driving Crypto Adoption
Bitget's participation in Future Blockchain Summit, Dubai
Bitget participated in the Future Blockchain Summit in Dubai, a premier event in the MENA region dedicated to blockchain, Web 3.0, NFTs, and gaming. Making a strategic expansion into the Middle East, Bitget's operations are set to grow in the region.
During the event, Bitget announced its plan to launch the Bitget Card, a premium crypto-backed credit card that serves as a crypto payment solution. More information about this will be announced in the upcoming months.
Bitget Celebrates the 15th Bitcoin Whitepaper Day with “Satoshi”
To commemorate the 15th anniversary of the Bitcoin Whitepaper, Bitget organized the "Bitcoin Whitepaper Day" event, which kicked off in late October. The event included captivating street performances featuring a statuesque performer dressed as Satoshi Nakamoto, holding a Bitcoin Briefcase. The busy streets of Vienna and Taipei were chosen as the prime locations for these performances, captivating the attention of pedestrians and acting as a potent media attraction. The event's popularity surged on social media platforms, amplifying its reach and enhancing its overall visibility.
Insights and features from Managing Director , Gracy Chen .
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