Bitget's South Asia Crypto Spot Trading Volumes Grow by 500%

MUMBAI, India , Feb. 28, 2024 -- Bitget, the world's leading cryptocurrency exchange and Web3 company shared insights into its growth and surging volumes. According to recent reports, Bitget thrived with a total trading volume exceeding US$3.14 trillion in 2023.

Notably, spot trading volume surged to US$81.6 billion, marking an impressive 94% increase despite market turbulence. This growth increased by multifolds in the South Asia region with a 540% increase in spot trading volume in Q4 2023.

"The incredible jump in our spot trading volumes in South Asia is the result of building trust, perseverance, and a strong relationship with our users in the region. At Bitget, we're enhancing security compliance as we adhere to global and regional financial regulations while providing a robust web3 ecosystem and, investing in high potential blockchain startups," said Vugar Usi Zade, COO at Bitget.

Bitget's user base flourished, reaching 20 million, supported by a dedicated team of 1,500 staff members. The platform's proactive listing strategy resulted in the addition of 355 new listings, marking an impressive 46% year-on-year increase. This has elevated Bitget's offerings to encompass over 600 tokens and 700 spot trading pairs, underlining their commitment to asset diversity.

The platform's performance also sparked increased demand for BGB, Bitget's native token, which experienced remarkable growth, achieving a record-breaking all-time high price of $1 (USD) this month, representing an increase of over 300% from its value at the beginning of 2023. The surge in BGB holders, reaching nearly 217,000 by the end of 2023, and a substantial rise in its trading volume can be attributed to the introduction of new features, developments in launchpad and launchpool, compliance achievements, and its continuous efforts to enhance Bitget's trading services and ecosystem.

In 2023 Bitget announced the $100M WEB3 Fund focused on accelerating Asian blockchain startup ecosystem. Bitget hosted over 12 meetups and events in South Asia alone, including Build For Web3 presenting funding related opportunities to Indian startups under the $10M BlockchainForYouth Fund. With these initiatives, Bitget has built strong trust and credibility in the South Asia market garnering support of over a million users.

About Bitget

Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.