Bitget's Spot and Futures Trading Volumes Double in Q1 2024

Bitget, the world's leading cryptocurrency exchange and Web3 company, has released its transparency report for the first quarter of 2024, unveiling that transaction volumes for both spot and futures trading surged over 100% during this period.

Specifically, futures trading volume in Q1 came in at around US$ 1.4 trillion, an increase of 146%, with spot trading volume up 113% to over US$ 160 billion. This growth drove Bitget’s platform token BGB to soar over 80% in Q1, hitting $1.

The company has expanded its global user base to over 25 million, and registered highest increase in derivatives market share, with a growth of 2.4% in March.

In addition, Bitget listed 186 new tokens in Q1, scaling its offerings to over 750 tokens and 820 spot trading pairs.

"The first quarter of 2024 has witnessed numerous significant market developments, such as the approval of spot Bitcoin ETFs and Bitcoin achieving a new all-time high. In the midst of these pivotal industry events, we're thrilled to present our Bitget Transparency Report. This report sheds light on our impressive growth, our initiatives to foster a sense of community, and our strides in corporate social responsibility," commented Gracy Chen, Managing Director of Bitget.

"This year, Bitget is doubling down on its commitment to enhance our spot market offerings. We aim not only to bolster our market position but also to contribute tremendously to the broader crypto ecosystem, supporting startups with high potential to grow."

In February, Web3 trading wallet Bitget Wallet has onboarded former Binance alum Alvin Kan​ as new Chief Operating Officer (COO), tasked him with leading its global growth strategy and coordinating brand development, operations, and growth initiatives.