Bitget, the world’s leading cryptocurrency exchange and Web3 company, demonstrated remarkable resilience in May. It maintained its position as a top derivative exchange despite a 20.1% decline in the combined spot and derivatives trading volume on centralized exchanges, which dropped to $5.27 trillion. However, Bitget stood out with significant growth.
Bitget’s Open Interest Surges 39.2% to $9.74 Billion
Open interest on derivatives exchanges reached $55.2 billion this week, an increase of 30.5%, as reported by CCData. Take Bitget for instance, the platform recorded a 39.2% rise in the open interest to $9.74 billion. These robust figures cement Bitget’s position as a premier derivative exchange.
Furthermore, on the basis of on-chain data from DeFiLlama, Bitget had the most significant one-month inflow among CEXs in May, with $975.4 million of inflows into the exchange. This massive influx of capital also cements Bitget as a major player in the market.
Bitget enhanced its asset offering by adding 62 new tokens in May, which was followed by trading volumes and significant attention. The highest performing additions include $TURBO, $MNTC, $CEL, $LIFEFORM, and $WOJAK that increase in value by between 260% and 1430%. Such proactive measures to match changing market needs demonstrate the significant opportunity for high-value revenues within Bitget’s ecosystem.
Bitget Lists 21 Tokens, Sees Gains Up to 86% in UDS
Bitget listed 21 tokens where UDS appreciated by 86% and DOGEMOB by 26%. Moreover, ATS and APRS experienced a market cap surge of 46% and 17% respectively. This has boosted the demand and success of the product since the average annual percentage rate (APR) ranges between 10% and 45%.
It was also a transformative month for Bitget. The company named Gracy Chen as the new CEO and introduced a number of new strategic undertakings. These were the BWB token, Signal Bot for crypto trading insights on Telegram, Elite Trader campaign and global event PIZZA DAY.
Lastly, it can be stated that all achieved in May shows the high efficiency of Bitget’s strategic planning and its active response to the market needs. By expanding its asset selection and introducing innovative tools and campaigns, Bitget continues to strengthen its position in the cryptocurrency market. As a result of this, it sets a strong foundation for future growth and success.
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