Bitget Exchange Surpasses $1.4 Trillion in Futures and $160 Billion in Spot Volume in Q1 2024
Bitget, a prominent cryptocurrency exchange, has reported significant growth in trading volume during the first quarter of 2024, with futures and spot trading volumes exceeding $1.4 trillion and $160 billion, respectively.
The exchange, which now boasts more than 25 million users, highlighted key developments in the crypto market in its Q1 report, including a robust market recovery in February and the growing popularity of tokens like Solana and advancements in artificial intelligence (AI).
During the quarter, Bitget listed 186 new tokens, with notable gains observed for tokens like Solana’s meme coin Dogwifhat (WIF) and rollup utility token Altlayer (ALT), both experiencing over 1,000% gains post-listing. Additionally, Bitget’s native token, BGB, surged to an all-time high of $1.38, marking a remarkable 400% year-over-year increase in value, leading to a market cap of $2.6 billion.
Looking ahead, Bitget plans to introduce an additional BWB token as the native coin of its Web3 wallet in the second quarter, with an ongoing airdrop event.
READ MORE: Solana Price Dips – Whales Transfer SOL Worth $1.325 Billion
Research from CCData revealed that Bitget’s derivatives market share grew by nearly 2.5% in March, positioning it as one of the top exchanges in the derivatives market alongside industry giants like Binance and OKX.
The open interest of futures and derivatives on Bitget experienced a significant increase of 104% in March 2024, reflecting growing market demand and positive market sentiment.
In a bid to promote diversity and inclusion in the blockchain industry, Bitget pledged $10 million to support women-led startups in the Web3 space, aiming to address the gender gap in venture funding and elevate blockchain knowledge among women-led initiatives.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
