Crypto exchange Bitget has reported a significant $700 million capital inflow for the second quarter of 2024, alongside a boost in user numbers and website traffic.
Strong Performance in Q2
Bitget experienced a notable increase in its holdings of Bitcoin (BTC), Tether (USDT), and Ether (ETH) during the quarter. BTC holdings grew by 73%, USDT by 80%, and ETH by 153%, reflecting a total capital inflow of about $700 million. The company also saw a 50% rise in website traffic, attracting 10 million monthly visitors. Additionally, Bitget welcomed 2.9 million new users and reported a 10% increase in spot trading volume compared to the previous quarter.
New Partnerships and Initiatives
In Q2, Bitget formed partnerships with three prominent Turkish athletes—wrestler Buse Tosun Çavuşoğlu, boxer Samet Gümüş, and volleyball player İlkin Aydın—as part of its campaign featuring football legend Lionel Messi.
CEO Gracy Chen emphasized the company’s commitment to expanding its global presence and advancing Web3 technology. “Q2 2024 has been a pivotal period for Bitget. Our growth in users and website traffic, along with our collaboration with Turkish athletes, reflects our ongoing global expansion efforts,” Chen said.
Ecosystem Fund Launch
Bitget also launched a $20 million ecosystem fund in collaboration with Singapore-based Foresight Ventures. This fund is dedicated to supporting early-stage projects on The Open Network (TON) and fostering the development of the TON ecosystem.
Summary Review: Bitget’s impressive $700 million capital inflow in Q2 2024 highlights its robust growth and increasing market presence. The exchange’s significant uptick in Bitcoin, Tether, and Ether holdings, coupled with a surge in new users and website traffic, underscores its expanding influence in the crypto space. Strategic partnerships with Turkish athletes and the launch of a $20 million ecosystem fund for The Open Network (TON) further emphasize Bitget’s commitment to global expansion and innovation in Web3 technology.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
