Q3 2024 Transparency Report: Bitget becomes 4th Largest Exchange by Volume

TLDR;

• Bitget reached 45M users, ranking as the 4th largest crypto exchange globally, with a major focus on accelerating financial freedom.
• The exchange led in APAC trading, accounting for 31% of trading volume and 26% on weekends, driven by retail activity.
• Foresight Ventures and Bitget committed $30M to support TON blockchain development and Telegram-based projects.
• The company elaborated its token-discovery strategies through on-chain data and community insights with Nansen Research.
• Bitget secured a strategic partnership with LALIGA to promote Web3 adoption across Eastern, SEA, and LATAM regions.

Overview

In Q3 2024, the crypto market experienced fluctuating trends, with Bitcoin starting the quarter strong after reaching a high of $68,000 in late July. However, by early September, the price had fallen significantly. Factors such as increasing balances on exchanges suggested that many investors were selling their holdings to take advantage of earlier gains. Despite this, there was considerable activity in the broader blockchain sector, particularly in ecosystems such as TON, Solana and Tron, which saw increased user engagement.

At Bitget, this was a similar trail. It recorded over 45M users on the platform and surpassed top exchanges ranking #4 in the list of world's largest crypto exchanges. With the partnership with LALIGA, Bitget integrated a new world of crypto and football aligned with the vision of accelerating financial freedom to the next billion users. In Q3, Bitget Wallet's growth was attributed to the TON ecosystem, which helped the decentralized wallet achieve the highest downloads in crypto.

Bitget in numbers

Global Top 4 exchange

Bitget has demonstrated strong growth and resilience amidst a challenging market landscape in Q3 2024. While the total crypto market cap saw a minor decline of -1.0%, ending the quarter at $2.33 trillion, Bitget's performance stood out in several key areas. According to CCData, the platform saw its market share increase to 11.0% and achieved a Lifetime Spot & Derivatives Volume of 11 trillion in September, placing it among the top 4 exchanges globally. Year-to-date, Bitget also has the 3rd highest market share gain in both spot and derivatives among global peers.

Leader in APAC hours and weekend trading

According to Kaiko Research, Bitget's prominence in the Asia-Pacific region was further highlighted by its 31% of trading volume occurring during APAC hours, surpassing both Binance and Bybit. Additionally, Bitget led weekend trading activity, with 26% of its volume taking place over the weekends, largely driven by high retail participation. The exchange's focus on altcoin trading was evident, with nearly 50% of its volume being altcoins—more than the 30% seen on Binance—underscoring its appeal to retail traders.

Moreover, Bitget’s strategic efforts in attracting retail investors through incentives such as fee discounts and rapid asset listings have continued to strengthen its competitive edge. The exchange also made strides in expanding its ecosystem by supporting innovative projects, reinforcing its commitment to the TON blockchain and Telegram Mini-App tokens.

In terms of market positioning, Bitget’s growing dominance in both the spot and derivatives markets places it as a formidable player in the crypto exchange landscape, solidifying its path toward further expansion and leadership in the industry.

Bitget currently has over 45 million users and handles a daily trading volume of $10 billion. There are more than 180,000 professional traders on the platform, with over 800,000 copy trading followers. The platform has facilitated over 90 million successful trades, resulting in over $500 million in gains from profitable trades. Elite traders have shared more than $23 million in profits with their followers.

Bitget's Protection Fund is valued at over $300 million. The exchange supports more than 800 tokens and offers over 900 spot trading pairs, with a daily spot trading volume of $400 million. USDT-M futures trading volume exceeds $7 billion, and the platform offers over 300 USDT-M futures trading pairs.

The company employs over 1,500 people from more than 60 nationalities, with users spread across 200+ regions. Bitget ranks as a top 3 platform for futures trading and a top 9 spot trading platform globally. This year, Bitget has listed 450 new tokens and launched 15 new projects, including one launchpad and 14 Lauchpool projects.

New Listing

Bitget has positioned itself as a frontrunner in offering diverse asset options, boasting an impressive lineup of 800+ tokens available and 900+ spot trading pairs, adding 72 new listings in Q3 2024. Of these new listings, POL, DRIFT, WUSD, REEF, and MOTHER are the top 5 tokens with highest TVL growth in the period.

Pre-market

Bitget Pre-market aims to meet the demand for pre-listing trading of the latest tokens and enhance the liquidity and trading experience for users. In Q3, Bitget has listed 12 tokens in the pre-market including CATI, MOCA, HMSTR, DOGS and ZKL with a total of 53,800 traders participating and a cumulative transaction volume of 23M USD.

PoolX

PoolX as Bitget's newly launched staking platform enables users to earn popular tokens by staking tokens. Since the launch of its first project on April 8, Bitget PoolX has launched over 70 projects. Among them, the BGB, BTC, ETH, and USDT pools have seen a total of 94805 participants in staking in Q3, with the total staked amount equivalent to 2,297,761,012 USD, doubling the figure of Q2.

Quarterly highlights

Bitget and Foresight Ventures Commit $30 Million Investment to Drive TON Blockchain Growth

Bitget and Foresight Ventures have announced a strategic $30 million investment into The Open Network (TON) blockchain to accelerate the development of emerging trends like Tap-to-Earn, GameFi, and other Telegram-based projects. Benefiting from Telegram’s vast user base of 900 million, the TON ecosystem has seen tremendous growth in 2024, with a tenfold increase in on-chain transactions, ecosystem TVL, and DEX trading volume. This partnership aims to support developers, incubate new projects, and foster innovation within the TON ecosystem, further positioning it as one of the fastest-growing blockchain platforms.

Bitget Reaches 45 Million Users, Marking Rapid Expansion on Its 6th Anniversary

As Bitget celebrates its 6th anniversary, the platform has surpassed 45 million users globally, marking a 400% growth in user base since last year, making it the fourth largest exchange by trading volume. In 2024 alone, Bitget recorded a significant rise in user growth, driven by innovation and enhanced product offerings, especially in Africa, South Asia, and Southeast Asia. The platform also saw a 600% increase in earnings products and a $700 million net asset inflow in H1 2024. Bitget’s anniversary celebrations feature global events, partnerships with industry leaders like SheFi, and numerous contests for its community, all underlining the company's continuous commitment to innovation and social responsibility.

Bitget and Nansen Collaborate to Enhance Token-Discovery Strategies with On-Chain Data and Community Insights

Bitget Research, in collaboration with Nansen, has released a comprehensive report on token-discovery strategies, offering traders essential insights for investing in early-stage and chain governance tokens. By analyzing on-chain trading volume, community strength, and tokenomics for early-stage tokens, and using chain fees and Total Value Locked (TVL) for governance tokens, Bitget and Nansen highlight reliable predictors of token prices. Additionally, social sentiment data from Nansen’s Discord indicates a correlation with weekly token price movements, providing valuable investment insights. Bitget’s meticulous token evaluation and listing process, focused on high-potential projects, has driven substantial user growth, with over 2.9 million new users and more than 180 token listings since April 2024. This strategic approach, combined with Nansen’s on-chain data analysis, aims to empower traders to make informed decisions in the dynamic crypto market.

Bitget Secures Strategic Crypto Partnership with LALIGA to Promote Web3 in Sports

Bitget has entered into a multi-million dollar deal with LALIGA, becoming the official crypto partner in Eastern, Southeast Asia, and LATAM regions. Announced during Token2049 in Singapore, this collaboration will leverage the massive global audience of LALIGA to boost crypto awareness and Web3 adoption. As part of this partnership, Bitget will gain significant brand exposure, while LALIGA receives support in advancing its technological innovations through blockchain. This move aligns with both organizations' shared values of perseverance and innovation, and aims to expand crypto adoption among sports fans in emerging markets.

Bitget Appoints Hon Ng as Chief Legal Officer to Lead Global Regulatory Efforts

Bitget has appointed Hon Ng as its Chief Legal Officer, bringing over 20 years of legal expertise. Ng, an award-winning lawyer recognized by the Financial Times as one of the World’s Top 20 Legal Leaders, will lead Bitget’s global compliance initiatives. His previous roles include General Counsel at Binance, where he successfully handled licensing, regulatory dialogues, and high-profile matters such as a $500 million stake acquisition in Twitter. At Bitget, Ng will oversee regulatory adherence, licensing efforts, and the development of compliant products to support the platform's global expansion.

Products and Integrations

Bitget Wallet Hits 40 Million User Milestone as The Most Downloaded Web3 Wallet

By the end of September, Bitget Wallet's user base reached 40 million, marking an impressive 100% growth over six months and establishing it as the fastest-growing decentralized wallet of the year. In August, the wallet achieved the status of the most downloaded Web3 wallet globally, boasting over 12 million monthly active users. September saw an additional 6 million downloads, propelling Bitget Wallet to the position of the second most downloaded crypto app, just behind Binance. For three consecutive months in Q3, it outperformed MetaMask in downloads, solidifying its ranking as the top Web3 wallet. Its innovative features and expansion into over 168 countries have significantly contributed to driving crypto adoption, especially in regions with limited access to traditional financial systems.

Bitget Wallet Becomes the First Web3 Wallet to Fully Support the TON/Telegram Ecosystem

Bitget Wallet is at the forefront of integrating with the TON and Telegram ecosystems, offering comprehensive support for the TON mainnet across wallet protocols, token trading, and the DApp ecosystem. It has introduced the industry’s first MPC keyless wallet that allows for TON mainnet and Telegram logins, along with features such as a token leaderboard, Telegram trading bots, and the OmniConnect SDK, which connects Telegram Mini-Apps to over 500 chains. In Q3, Bitget Wallet experienced an impressive 4886% increase in TON addresses. Additionally, it launched the TONNECT 2024 campaign, collaborating with over 40 projects to enhance user engagement. Tomarket, a TON-based mini-app incubated by Bitget Wallet, attracted over 37 million users within just three months, achieving 9 million daily active users and ranking among the top three Telegram Mini-Apps.

Bitget Wallet Launches MemeX to Enhance Meme Coin Trading Experience

Bitget Wallet has launched MemeX to enhance the meme coin trading experience, capitalizing on a thriving market in Q3. MemeX is specifically designed to help users discover new tokens in real-time while filtering out high-risk options. Users can take advantage of advanced trading tools, such as real-time K-line charts, smart money tracking, automatic slippage adjustment, and Instant Swap for rapid transactions. Additionally, it provides alerts for new token launches through pop-up notifications, ensuring users stay updated on market trends and can make quicker, more efficient trading decisions, including one-click copy trading.

Bitget Enhances User Experience with Fiat-to-Crypto Integration via Apple Pay and Google Pay

Bitget has integrated Apple Pay and Google Pay into its platform, enabling users to convert fiat to crypto within 30 seconds and significantly enhancing the accessibility of cryptocurrency purchases. With over 650 million combined users of these payment platforms, Bitget aims to attract broader audiences to the crypto space by allowing purchases across more than 140 fiat currencies and 100 cryptocurrencies. This integration builds on Bitget's existing payment gateways and exemplifies its commitment to financial inclusivity and secure, efficient trading options. The addition of these popular payment methods aligns with Bitget's mission to simplify the fiat-to-crypto conversion process and drive adoption of digital assets.

Bitget Announces Smart Awards 2024 to Honor Top Traders

Bitget is set to host the Smart Awards 2024 online on September 12, coinciding with the platform’s 6th anniversary. This event aims to recognize outstanding traders across five categories: Top Trader, Rising Star, Trading Maestro, Memecoin God, and Elite Picker. Fourteen top traders will be celebrated for their profit margins, while six new copy-traders will receive the Rising Star award. The Trading Maestro will honor traders known for their exceptional profitability, and the Memecoin God will highlight leaders in the memecoin market. The event is organized in collaboration with data partner 0xScope, ensuring transparency in the selection of winners. To promote the awards, Bitget will launch a #TradeSmarter campaign on social media. The Smart Awards 2024 emphasizes Bitget’s commitment to recognizing the contributions of crypto traders to the industry's development.

Events

Bitget Shines at TOKEN2049 Singapore with Major Announcements and Engagements

Bitget made a significant impact at TOKEN2049 in Singapore as a Title Sponsor on September 18-19, 2024, where over 20,000 attendees gathered to explore the latest in the cryptocurrency industry. CEO Gracy Chen emphasized the importance of localization and customization in enhancing user experiences in diverse markets during her keynote speech. Bitget also hosted vibrant side-events, including a celebratory Nightopia party, engaging over 3,000 attendees and generating considerable social media buzz. The company's presence underscored its commitment to advancing innovation and fostering community involvement in the cryptocurrency ecosystem.

Bitget Hosts Inaugural Blockchain4Her Awards at SheFi Summit

Bitget successfully hosted the inaugural Blockchain4Her Awards at the SheFi Summit in Singapore on September 17, 2024, attracting over 1,000 participants and receiving more than 100 nominations. This initiative aims to address gender disparities in the blockchain industry by honoring women making significant contributions. Awards were presented in two categories: the Rising Female in Blockchain, awarded to Alexandra Nicorici, Gesa Schneider, and Rebecca Matsumura, and the Innovative Web3 Female Entrepreneur, awarded to Maika Isogawa.

WebX Japan

WebX conference was hosted in Tokyo this July, as one of Japan's largest crypto conferences, and Bitget was making its mark! Our CEO, Gracy, has participated in an exciting panel discussion alongside representatives from Bitgo and Wintermute, diving into key topics shaping the future of blockchain. Meanwhile, Bitget Wallet had its own booth, where we distributed exclusive merchandise and connected with attendees. The energy was high, and the long queues in front of our booth were a testament to the excitement and engagement around Bitget at WebX.

Bitget at Taipei's Asia Blockchain Summit

From August 6th to 8th, Bitget and Bitget Wallet were proud to be Platinum Sponsors at the Asia Blockchain Summit in Taipei. With approximately 15,000 attendees, this is a fantastic opportunity for us to introduce the Bitget brand to a global audience.

Conclusion

Bitget's partnership with LALIGA signifies a strategic push into Eastern, Southeast Asia, and LATAM, aligning with its mission to advance Web3 adoption. As Bitget expands its presence globally, it will also focus on launching new CSR initiatives through Blockchain4Her and Blockchain4Youth. As Bitget accelerates its expansion, the company envisions becoming a leading CeDeFi ecosystem, integrating the best aspects of centralized and decentralized finance. With its strong market presence, growing user base, and strategic partnerships, Bitget is well-positioned to drive the next wave of financial innovation, focusing on accessibility, education, and user empowerment. These efforts are aligned with its broader goal of delivering financial freedom to a billion users worldwide.