Bitget’s South Asia Crypto Spot Trading Volumes Skyrocket by 500% in Q4 2023

February 29, 2024

By Anjali Kochhar

Bitget, the globally acclaimed cryptocurrency exchange and Web3 company, revealed remarkable growth and soaring trading volumes, particularly in South Asia. Reports indicate that Bitget witnessed an extraordinary surge in its total trading volume, surpassing an impressive US$3.14 trillion in 2023. Notably, the spot trading volume surged to US$81.6 billion, marking a substantial 94% increase despite market turbulence. The South Asia region witnessed an outstanding 540% surge in spot trading volume during Q4 2023.

Bitget’s Chief Operating Officer, Vugar Usi Zade, attributed the substantial growth in spot trading volumes in South Asia to the company’s commitment to building trust, perseverance, and strong relationships with users in the region.

“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.

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

The platform’s outstanding performance also sparked increased demand for BGB, Bitget’s native token. Experiencing remarkable growth, BGB achieved a record-breaking all-time high price of $1.2 USD this month, representing an outstanding 300% increase from its value at the beginning of 2023. The surge in BGB holders, reaching nearly 217,000 by the end of 2023, can be attributed to the introduction of new features, developments in launchpad and launchpool, compliance achievements, and continuous efforts to enhance Bitget’s trading services and ecosystem.

In 2023, Bitget announced the $100M WEB3 Fund focused on accelerating the Asian blockchain startup ecosystem.

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.

About the author

Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.

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