- Bitget has released its 2024 transparency report highlighting one of the most successful years the company has experienced since its launch in 2018.
- Bitget has emerged as the second-largest exchange ecosystem by user base.
- Bitget’s user base grew by 400% in 2024, reaching over 100 million users by year-end.
- Trading volumes also surged, with daily activity hitting $20 billion and spot trading volumes quadrupling within the year.
- The launch of tools like the “Smart Money” on-chain analytics, PoolX stake-to-mine platform, and pre-market trading services cemented Bitget as a leader in user-focused innovation.
Bitget has released its 2024 Transparency Report. The report highlights a year of record-breaking growth and innovative strides, cementing Bitget’s position as a major player in the crypto ecosystem. Launched in 2018, Bitget has experienced exponential success over the years, culminating in its emergence as the second-largest exchange ecosystem by user base in 2024.
Bitget Records Unprecedented Growth Across Metrics
In 2024, Bitget became the second-largest centralized exchange ecosystem by user base globally.
Bitget’s user base soared from 20 million in January to over 100 million by December, marking a staggering 400% growth within a single year. This was accompanied by a significant rise in trading activity, with daily trading volumes doubling to $20 billion. Spot trading volumes also grew dramatically, climbing from $160 billion in Q1 to an impressive $600 billion in Q4.
According to Bitget, such robust growth can be attributed to a combination of highly competitive offerings, user-centric innovations, and a strategy rooted in global expansion.
Regional data underscores Bitget’s worldwide appeal: South Asia led the charge with 200% growth, while Africa posted the highest increase at 300%. Other notable gains included Southeast Asia (140%), CIS (150%), Europe (67%), and Latin America and the Middle East (significant double-digit growth).
Key Innovations Driving Success
Bitget’s technological and product innovations played a central role in its 2024 success. The company’s integration of Bitget Wallet’s “Smart Money” tools provided advanced on-chain data analysis capabilities, empowering users with actionable insights for informed trading decisions. The launch of PoolX, a stake-to-mine platform, diversified investment opportunities while enhancing user engagement.
In another first, Bitget introduced a pre-market trading platform that allows users to access new tokens and liquidity ahead of official listings. This feature has not only democratized access to new market opportunities but also reinforced Bitget’s reputation as a pioneer in user-focused innovation.
Strategic Investments: Tapping into Emerging Trends
Bitget’s $30 million strategic investment in The Open Network (TON) blockchain, made in partnership with Foresight Ventures, stands out as a milestone in its 2024 journey. This investment aligns with Bitget’s focus on supporting emerging trends such as GameFi and Tap-to-Earn models. TON’s rapid growth in transaction volumes and decentralized application adoption underscores the strategic foresight of Bitget’s investment decisions.
Native Token Performance and Ecosystem Growth
Bitget’s native token, BGB, also experienced remarkable growth in 2024, with its value increasing tenfold to $8 by year-end. This 1000% surge was supported by a newly implemented token burn mechanism that reduced total supply while introducing a quarterly burn program. These measures not only enhanced the token’s utility but also solidified BGB as a cornerstone of Bitget’s ecosystem.
The updated BGB whitepaper detailed expanded use cases for the token, further integrating it into the platform’s services. From trading fee discounts to governance roles, BGB’s evolution reflects Bitget’s broader vision of creating a self-sustaining, user-driven ecosystem.
Leadership Evolution: Gracy Chen Takes the Helm
2024 also saw significant leadership changes at Bitget. Gracy Chen, previously the Managing Director, assumed the role of CEO, becoming the only female leader among the top 10 global exchanges.
Chen is joined by a strengthened leadership team: Hon Ng as Chief Legal Officer, Vugar Usi Zade as Chief Operating Officer, and Min Lin as Chief Business Officer. Together, they have driven key strategic initiatives, advanced regulatory compliance, and spearheaded user-focused developments.
Regulatory Milestones and Global Expansion
Bitget’s growth was also fueled by significant regulatory achievements. The company obtained key licenses, including a UK license, a Bitcoin Service Provider (BSP) license in El Salvador, and launched a localized exchange in Vietnam. These advancements not only enhance user trust but also position Bitget as a compliant and globally relevant platform.
Such efforts align with the broader trend of regulatory scrutiny in the crypto space. By proactively meeting regional standards, Bitget has differentiated itself as a trusted platform in an industry often criticized for its lack of oversight.
Corporate Social Responsibility: Blockchain for All
Beyond its commercial success, Bitget has made significant strides in corporate social responsibility (CSR). Initiatives like Blockchain4Her promote gender diversity in blockchain, while Blockchain4Youth focuses on spreading blockchain awareness among young professionals globally. These programs reflect Bitget’s commitment to inclusive growth within the Web3 ecosystem.
Bitget’s CSR initiatives resonate with its broader mission to democratize access to blockchain technologies and create a more equitable digital economy. These efforts underscore the platform’s dual focus on profitability and societal impact.
Strategic Partnerships and Branding Efforts
Bitget’s strategic partnerships have also played a pivotal role in driving brand recognition and crypto adoption. The platform serves as the Official Crypto Partner of LALIGA in Eastern, Southeast Asia, and Latin America, leveraging the popularity of football to inspire global communities. Additionally, collaborations with Turkish National athletes, including wrestling world champion Buse Tosun Çavuşoğlu and boxing gold medalist Samet Gümüş, highlight Bitget’s efforts to align with sports and inspire wider audiences.
Such branding initiatives have significantly enhanced Bitget’s visibility and strengthened its position as a user-centric platform with a global reach.
As Bitget enters 2025, the company seems well-positioned for continued expansion and innovation. Its strategic investments, regulatory successes, and user-focused initiatives set the stage for further growth within the competitive crypto ecosystem. With Gracy Chen at the helm and a robust leadership team driving its vision, Bitget’s trajectory appears promising. The milestones achieved in 2024 underscore the platform’s ability to navigate the complexities of a rapidly evolving crypto industry.
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