The crypto exchange became the second-largest in the digital asset ecosystem last year.
Spot trading reached $600 billion in Q4 while copy-trading followers grew to 900,000.
Cryptocurrency
exchange Bitget has emerged as the second-largest crypto exchange ecosystem
globally, following a year that saw its user base expand by 400% to reach 100
million users, according to its 2024 transparency report released today (Thursday).
Bitget Emerges as
Second-Largest Crypto Exchange with 100 Million Users
The
platform's growth was accompanied by a surge in trading activity, with daily
volumes doubling to $20 billion and spot trading volumes expanding from $160
billion in the first quarter to $600 billion in the fourth quarter of 2024.
Gracy Chen, Source: LinkedIn
"Over
the past six years, with the robust foundation we've built and an incredible
team by my side, Bitget has transformed into a leading crypto platform,"
said Gracy Chen, who
was elevated to CEO from her previous role as Managing Director, becoming
the only female chief executive among the top 10 global exchanges.
The
exchange's geographic diversification also played a role in its expansion.
While East Asia's dominance in the user base declined from 90% in 2021, regions
including South Asia, Southeast Asia, and Latin America saw significant growth.
South Asia's market share tripled to 15%, while Southeast Asia grew to 12% of
total users.
“Our vision
is to build a superapp that seamlessly connects Web2 and Web3, enabling a
billion users to embrace financial freedom,” said Alvin Kan, COO
of Bitget Wallet.
“We are committed to leading this transformation and becoming the definitive
bridge between the real world and the onchain economy.”
Bitget Token Rallies 900%
Bitget's
native token, BGB, reflected
the exchange's success, surging over 900% to reach $8 by year-end,
supported by new burn mechanisms and enhanced utility features. The platform
also made a strategic $30 million investment in The Open Network (TON)
blockchain, positioning itself to capitalize on emerging GameFi and Tap-to-Earn
trends.
“As the
crypto market matures, only the most resilient assets with strong ecosystems
and real-world utility can thrive through cycles,” Chen added. “BGB, ranked
among the top 30 tokens, has established itself as a leading utility token with
exceptional liquidity and a strong community. This merger will enhance BGB’s
role within Bitget’s ecosystem and create new opportunities for exploring the decentralized
world.”
“This is an exciting opportunity
for me to be working with incredibly talented people and to continue to be able
to enhance the industry’s culture of compliance, working side-by-side with
regulators, in order to contribute meaningfully to the sustainability of the
digital assets ecosystem,” Ng said.
Other updates
Professional
trading activity on the platform showed robust growth, with the number of pro
traders increasing 43% to 200,000, while copy-trading followers grew to
900,000. Successful trades exceeded 100 million, generating over $600 million
in profitable trades.
The
platform expanded its offerings significantly, increasing its token listings
from 600 to over 800 and nearly doubling its USDT-M futures trading pairs to
400. New features including Bitget Pay, Pre-market trading, and PoolX were
introduced to enhance user engagement and investment opportunities.
Cryptocurrency
exchange Bitget has emerged as the second-largest crypto exchange ecosystem
globally, following a year that saw its user base expand by 400% to reach 100
million users, according to its 2024 transparency report released today (Thursday).
Bitget Emerges as
Second-Largest Crypto Exchange with 100 Million Users
The
platform's growth was accompanied by a surge in trading activity, with daily
volumes doubling to $20 billion and spot trading volumes expanding from $160
billion in the first quarter to $600 billion in the fourth quarter of 2024.
Gracy Chen, Source: LinkedIn
"Over
the past six years, with the robust foundation we've built and an incredible
team by my side, Bitget has transformed into a leading crypto platform,"
said Gracy Chen, who
was elevated to CEO from her previous role as Managing Director, becoming
the only female chief executive among the top 10 global exchanges.
The
exchange's geographic diversification also played a role in its expansion.
While East Asia's dominance in the user base declined from 90% in 2021, regions
including South Asia, Southeast Asia, and Latin America saw significant growth.
South Asia's market share tripled to 15%, while Southeast Asia grew to 12% of
total users.
“Our vision
is to build a superapp that seamlessly connects Web2 and Web3, enabling a
billion users to embrace financial freedom,” said Alvin Kan, COO
of Bitget Wallet.
“We are committed to leading this transformation and becoming the definitive
bridge between the real world and the onchain economy.”
Bitget Token Rallies 900%
Bitget's
native token, BGB, reflected
the exchange's success, surging over 900% to reach $8 by year-end,
supported by new burn mechanisms and enhanced utility features. The platform
also made a strategic $30 million investment in The Open Network (TON)
blockchain, positioning itself to capitalize on emerging GameFi and Tap-to-Earn
trends.
“As the
crypto market matures, only the most resilient assets with strong ecosystems
and real-world utility can thrive through cycles,” Chen added. “BGB, ranked
among the top 30 tokens, has established itself as a leading utility token with
exceptional liquidity and a strong community. This merger will enhance BGB’s
role within Bitget’s ecosystem and create new opportunities for exploring the decentralized
world.”
“This is an exciting opportunity
for me to be working with incredibly talented people and to continue to be able
to enhance the industry’s culture of compliance, working side-by-side with
regulators, in order to contribute meaningfully to the sustainability of the
digital assets ecosystem,” Ng said.
Other updates
Professional
trading activity on the platform showed robust growth, with the number of pro
traders increasing 43% to 200,000, while copy-trading followers grew to
900,000. Successful trades exceeded 100 million, generating over $600 million
in profitable trades.
The
platform expanded its offerings significantly, increasing its token listings
from 600 to over 800 and nearly doubling its USDT-M futures trading pairs to
400. New features including Bitget Pay, Pre-market trading, and PoolX were
introduced to enhance user engagement and investment opportunities.
Damian Chmiel is a Senior Analyst & Editor at Finance Magnates with more than 15 years of experience in the CFD and online trading industry. Active as both a trader and journalist since 2010, he focuses on broker coverage, fintech innovation, and regulatory developments across Europe, the Middle East, and Asia.
His work includes interviews with C-level leaders at major brokerages and fintech platforms, as well as co-authoring Finance Magnates’ quarterly industry benchmarking reports. Damian’s reporting is data-driven, market-aware, and grounded in direct industry engagement. His analysis and commentary have also been cited by external media outlets, including Investing.com, Binance, The Asset, Stockhead, and Dispatch.
Education:
MA in Finance and Accounting, Cracow University of Economics
Retail Traders Get Tokenized US IPO Allocations at Offer Price as Payward Expands xStocks
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-AI tools to elevate trading or business strategies
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-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
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-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
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-AI tools to elevate trading or business strategies
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-AI tools to elevate trading or business strategies
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Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
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-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
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Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
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As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
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-Addressing access barriers: infrastructure, education, and affordability in underserved communities
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As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
