Tag: Bitget

Crypto Exchange Bitget Celebrates Fifth Anniversary with Amazing Events and Giveaways

by Blockchain News

Bitget, a prominent crypto derivatives and copy trading platform, is commemorating its fifth year of operation. The platform, which serves a global user base of over 20 million, has announced a series of events and initiatives to mark this milestone.

The King’s Cup Global Invitational (KCGI) 2023 is set to be the first event in the lineup. This global trading competition, now in its fourth edition, offers a prize pool that surpasses 2.65 million USDT. The competition will feature categories such as spot, futures, demo trading, and copy trading. Notable prizes for the event include the Tesla Cybersquad and an Airbus H135 helicopter.

In September, Singapore will host the first-ever Bitget EmpowerX Summit. The summit aims to bring together over 50 thought leaders and more than 1000 attendees to discuss the transformative potential of crypto and Web3 in reshaping the financial landscape and global economy. Haseeb Qureshi from Dragonfly and Sebastien Borget from Sandbox are among the notable speakers who will provide insights into the evolving world of blockchain and cryptocurrency.

Bitget will also introduce the Smart Awards, which are divided into the Smart Money Awards and the Hero Trader Awards. These awards, backed by the analytics expertise of 0xScope, will recognize outstanding investment activities based on in-depth on-chain data analysis. Categories for the Smart Money Awards include Memecoin Master, Airdrop Hunter 2023, and NFT Guru 2023. The Hero Trader Awards will honor titles such as Wealth Hunter 2023 and Trader of The People 2023. Through these awards, Bitget aims to celebrate traders and investors who exemplify the principle of “Trade smarter.”

The anniversary celebrations will conclude with the Collect2Earn campaign. Participants can engage in various tasks to earn a portion of a $50,000 USDT prize pool and collect Bitget Milestone Cards, which highlight significant moments in Bitget’s five-year history.

Gracy Chen, Managing Director of Bitget, stated, “We’re exhilarated to celebrate five years of uniting crypto enthusiasts across the globe through seamless and trustworthy trading experiences. Our fifth anniversary festivities underscore our dedication to equipping traders with insights, enthralling events, and boundless excitement.”

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Bitget Partners with Comedian Adam Devine for SetForChange Campaign to Promote Crypto Awareness

by Blockchain News

Bitget, a leading crypto derivatives and copy trading platform, has announced a one-year partnership with American actor and comedian Adam Devine. The collaboration is part of Bitget’s #SetForChange campaign, which aims to boost awareness of Web3 and cryptocurrency.

The campaign comes on the heels of Bitget’s recent rebranding initiative and emphasizes the company’s commitment to crypto education and wider adoption. By employing a lighthearted and engaging approach, Bitget hopes to make the world of crypto more accessible to the general public.

Embracing the Future of Money

The SetForChange campaign focuses on the new way of life that embraces the future of money, modern financial tools, and the possibilities of Web3. It aligns with Bitget’s rebranding, which emphasizes trading smarter with innovative AI features and copy trading.

“In a world where change is the only constant, we all strive to adapt and remain flexible in the ever-evolving modern society, and those who embrace new trends often seize new opportunities,” the campaign’s message reads.

Targeting Younger Generations

Bitget’s collaboration with Adam Devine, known for his approachable image, aims to capture the attention of millennials and Gen Z. According to recent research conducted by Bitget, millennials account for 46% of crypto enthusiasts and are more digitally savvy than older generations.

“With the campaign, Bitget aims to empower individuals and encourage more people to adopt the #SetForChange mindset, fearlessly embracing innovations and leveraging cutting-edge technologies for better development,” commented Gracy Chen, the Managing Director of Bitget.

Ongoing Commitment to Youth

The partnership with Devine is not Bitget’s first initiative targeting younger generations. In May 2023, the company launched the Blockchain4Youth CSR program, committing $10 million over the next five years to empower young people through educational activities such as campus lectures, hackathons, online courses, certifications, and scholarships.

Bitget’s Rebranding and Celebrity Partnerships

Two weeks ago, Bitget announced its rebranding campaign, introducing a refreshed logo and a new brand tagline “Trade smarter.” The exchange has also partnered with celebrities like Lionel Messi to elevate awareness about crypto.

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Crypto Exchange Bitget’s Native Token BGB to Be Listed on MEXC

by Blockchain News

Bitget, a leading crypto derivatives and copy trading platform, has announced the listing of its native token BGB on the renowned cryptocurrency exchange MEXC. The listing is scheduled for July 31, 2023, and is expected to enhance the liquidity, accessibility, and overall value of the BGB token.

BGB, with a circulating supply of 1.4 billion and a total supply of 2 billion, plays a crucial role in Bitget’s ecosystem. The token offers users a variety of rights on the Bitget exchange, including fee discounts, access to high-quality tokens through Launchpad and Launchpool participation, and the ability to Super Airdrop, among other benefits.

The decision to list BGB on MEXC comes in response to the growing market demand for the token. Since the beginning of the year, BGB has amassed over 300,000 holders and achieved a total trading volume of more than two billion USD. The token reached an all-time high of over 0.51 USDT in February and was the best-performing exchange token in H1 2023, outpacing BTC.

Bitget’s steady growth and increasing share in both the spot and derivatives trading markets have contributed to the surge in BGB’s value. The platform listed over 180 coins in 2023 and boasted the best Launchpad performance, with an ATH average ROI of 41.9x. These factors have strengthened the use cases and attractiveness of BGB.

The updated BGB whitepaper, released in April, revealed new features in development, including the BGB lottery, trial fund for futures trading, and exclusive earning services. The Bitget team is also considering a BGB buyback and burn mechanism to reduce the token’s circulating supply and enhance its value.

According to TokenInsight’s Crypto Exchange Report Q2 2023, Bitget ranks fourth in trading volume among all CEXs, and its market share increased by 1.81% to 8.7%, the second-highest increase among the Top5 CEXs.

Gracy Chen, Managing Director of Bitget, stated, “The listing of BGB on MEXC is a testament to the recognition and achievements of Bitget in the dynamic crypto space. We are excited to unlock new possibilities and reach a broader audience through this strategic collaboration with MEXC.”

BGB is now available for public exchange and trade on MEXC, Bitfinex, and Bitget, with a total daily trading volume of $10 million. The Bitget team is exploring future listing opportunities for BGB in the coming months.

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Bitget Reinforces Its Leadership in Smart Crypto Trading with a Rebranding Initiative

by Blockchain News

Bitget, a leading crypto derivatives and copy trading platform, has announced a rebranding initiative on July 25, 2023, aimed at reinforcing its position as a leader in innovative trading products.

The rebranding is centered around the “Trade smarter” philosophy, reflecting Bitget’s commitment to providing intuitive tools for a secure, user-friendly, and efficient financial future.

The rebranding initiative is marked by Bitget’s leading copy trading feature and the upcoming introduction of AI-powered tools. These features are designed to bring about a change in the industry, creating a win-win situation for different types of traders.

“Bitget’s 5-year journey has been a testament to our continuous technological transformation, and I am proud of the progress the platform has achieved since 2018,” said Gracy Chen, Managing Director of Bitget. The rebranding initiative also marks Bitget’s commitment to creating a trading environment that is safer, smarter, and more productive.

Bitget recently reached a milestone of 20 million registered users after integrating with Bitget Wallet (formerly known as Bitkeep). This is a significant achievement since the exchange was launched in 2018. Currently, over 110,000 traders are contributing their trading strategies to the platform, with around 540,000 following them and leveraging their experience.

The launch of copy trading on Bitget had a significant impact on the results it achieved in H1 2023, attracting over 29,700 new elite traders, 169,800 new followers, and generating over $74 million in profits.

As part of the rebranding, Bitget is also updating its visual identity to streamline the trading process. The brand’s new visual design will be based on a “subtractive” approach, starting with the “tails” in Bitget’s iconic arrow logo. The simplified graphic emphasizes a sense of direction to help users align their trading vector with their investment goals. The exchange plans a complete visual overhaul of its mobile and desktop versions in the next six months.

Bitget’s commitments also extend to its educational endeavors, which are part of the “Trade smarter” philosophy. Bitget continues to set the bar high for transparency and user security by publishing monthly audits of the state of its reserves, with the Proof of Reserves having reached 223% in July, and the User Protection Fund topping $300 million in value stored.

Bitget currently operates in over 60 countries and regions with 1,300 employees and was ranked Top 4 in CEXs for the quarterly accumulated trading volume, according to TokenInsight 2023 Q2 Exchange Report.

Among the Top 5 CEXs, Bitget had the second-highest increase in market shares, growing by 1.81% to reach 8.7%. BGB token became the best-performing CEX token in 2023, outperforming BTC year-to-date.

The exchange plans to continue enhancing its platform and launching more helpful tools such as AI-empowered features to assist users in trading smarter. Bitget will also continue to improve user awareness about cryptocurrencies through its global education initiatives, programs, and partnerships with renowned names such as Lionel Messi.

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Bitget Eyes Middle East for Crypto Expansion, Plans to Hire 60 New Staff

by Blockchain News

Bitget, a leading crypto derivatives and copy trading platform, has announced plans to expand its operations into the Middle East, as reported on July 20, 2023. The Seychelles-based exchange is set to hire 60 new staff members as part of its global scaling strategy, aimed at increasing crypto adoption across new audiences.

The Middle East region, known for its burgeoning crypto activity, is a prime target for Bitget’s expansion. The exchange is considering launching initiatives in countries such as Bahrain and the United Arab Emirates (UAE), including the crypto-friendly emirates of Dubai, Abu Dhabi, and Ras Al Khaimah. The expansion plan includes setting up a regional headquarter and recruiting new team members for various mid-office and back-office roles.

Recent data on the Middle East and North Africa (MENA) region’s crypto adoption reveals a rapidly growing industry. The region accounted for 9.2% of global crypto transactions from 2021 to 2022. The UAE alone saw a 400% growth in registered crypto businesses between 2020 and 2022, contributing to a surge in global digital asset trading, which accounted for 10% of the global volume. The region also experienced a 300% increase in blockchain-related educational programs and contributed to 8% of all mining hash rates.

Gracy Chen, Managing Director of Bitget, stated that the company hopes to scale its Middle East team rapidly to support business growth. The plan includes hiring 30 to 60 new team members over the next two years or more across the Middle East region. Bitget is also considering Dubai as a potential operational hub for the Middle East market.

Bitget has already started exploring license applications to operate in target Middle East markets. Gaining proper licenses and regulatory approval is a top priority for the company to support its expansion and open regional offices.

The Middle East expansion plan follows Bitget’s recent global scaling efforts, including its registration as a Virtual Asset Service Provider (VASP) in Poland and similar crypto registration in Lithuania. Earlier this year, Bitget also launched in Turkey, now boasting a fully localized Turkish website, Bitget TR, to cater to users in the country.

Founded in 2018, Bitget serves over 8 million users in more than 100 countries and regions, offering secure, one-stop trading solutions. The exchange is known for its collaborations with notable partners, including Argentinian footballer Lionel Messi and official eSports events organizer PGL.

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CoinMarketCap Crypto Report: Top 20 Exchanges Mark a 36% Drop in Spot Trade Volume from Previous Quarter

by Blockchain News

In the first half of 2023, the cryptocurrency market has seen significant shifts in exchange activities, according to a comprehensive analysis by CoinMarketCap. The report examines the overall health, size, and activity level of the crypto market, considering both centralized and decentralized exchanges.

The top 20 exchanges contributed $1.67 trillion in total spot trade volume in Q2 2023, marking a 36% drop compared to the previous quarter. This decline indicates a slowdown in market activities, following Q1’s active trading spurred by Bitcoin’s price doubling.

Binance maintained its dominant position in the market throughout H1 2023, with a total spot trading volume share of 59.99%. The top five exchanges, including Binance, Coinbase, and Kraken, accounted for approximately 85% of the total spot market volume.

The market continues to offer a healthy number of trading pairs and available coins, with a steady increase in new listings. Binance dominated liquidity in the large-cap space, focusing its new listings on high-quality mainstream coins.

BitForex and Bitget were among the most active in adding new coins during the memecoin season from April to June 2023.

Binance ($57 billion), OKX ($10 billion), and Bitfinex ($10 billion) exhibited the highest amount of Proof of Reserve Assets. Despite recent market FUD leading to capital outflows from Binance, the exchange still maintains a healthy amount of Proof of Reserve assets.

In H1 2023, the majority of exchange tokens achieved net positive returns, although most were unable to outperform Bitcoin (+182% YTD).

Decentralized exchanges (DEX) saw their peak trading volume in March, with a total DEX volume of $189 billion in Q2, a 24% decrease compared to Q1. Uniswap dominated the DEX market with a 57.5% market share, and its monthly volume has been on par with Coinbase’s spot volume.

The DEX to CEX ratio has increased to around 1:8, attributed to advancements in DEX products, regulatory concerns about CEX, lower gas fees, and a higher proportion of crypto-native participants.

Approximately 80% of the DEX trade volume occurred on Ethereum and its Layer2 chains in H1 2023. However, BNB has been rapidly gaining a larger share of the DEX trading market in Q2.

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Bitget creates an AI-powered crypto trading tool

by Blockchain News

Bitget, an influential entity in the fields of crypto derivatives and copy trading, has introduced a novel tool called the Martingale AI trading bot. This AI-powered innovation is engineered to help its users trade cryptocurrencies with higher efficiency.

Taking its name from the traditional Martingale betting system, this fresh AI approach is designed to amplify investments in the wake of market declines to offset losses and garner profits. The AI component of the system streamlines investment automation, permitting traders to establish their risk parameters and investment intervals based on recommendations from Bitget’s in-house AI system. Notably, these guidelines are derived from an analysis of past market prices and asset volatility.

The architects behind the Martingale strategy underscore its adaptability to both bearish and bullish markets, thereby enabling traders to capitalize on long and short market positions. A distinctive feature of this strategy is its customizable risk management aspect, which offers traders the liberty to tweak various parameters in alignment with their personal trading patterns and risk thresholds.

The confluence of AI and cryptocurrency has been gaining more attention of late. Erik Voorhees, the person behind ShapeShift, recently spoke about the singular compatibility of cryptocurrencies and AI systems. A libertarian in favor of favorable regulation in the web3 industry, Voorhees contends that cryptocurrency is the only type of money that can be efficiently integrated into AI systems. He maintains that AI systems have the ability to manage and exploit digital assets. Bitget’s Martingale AI strategy serves as a tangible illustration of this concept, demonstrating how AI-enabled algorithms can augment trading strategies, automate tasks, and offer insights into market dynamics.

Concurrently with Bitget’s groundbreaking initiative, the AI crypto assets market is experiencing considerable expansion. Boasting a market cap of $2.66 billion and a 1.1% change within the last day, AI tokens that drive AI-centric projects like portfolio management, image generation, and pathfinding are on the rise. To illustrate, tokens such as RNDR, AGIX, and FET have seen gains of 0.4%, 1.7%, and 0.8%, respectively, in the past day. This ascending trajectory underlines the potential worth and escalating demand for AI tokens in the market.

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Bitget Launches Blockchain4Youth Initiative

by Blockchain News

Bitget, a cryptocurrency derivatives exchange, has announced a new corporate social responsibility project, Blockchain4Youth, aimed at promoting cryptocurrency education among the younger generation. The initiative will allocate $10 million over five years towards providing blockchain courses and certifications through Bitget Academy and hosting campus lectures in partnership with universities worldwide. Bitget will also collaborate with other leading blockchain firms to incubate innovative projects by young entrepreneurs and host U30 (Under the age of 30) hackathons to identify the most promising ones.

Blockchain4Youth will commence this month with a series of campus lectures on Web3 held in universities across Taiwan, Vietnam, and Thailand. Bitget Academy courses will also be available around the same time. The exchange is open to partnerships with educators for this novel initiative.

Bitget has around 8 million users across more than 100 countries. According to a recent Bitget survey involving more than 250,000 respondents, 46% of millennials across major economies such as the United States, China, Japan, Germany, Nigeria, and Indonesia currently own cryptocurrencies compared to 25% of Gen X, 21% of Gen Z, and 8% of baby boomers. Furthermore, 27% of millennials and 36% of Gen Z respondents said they considered cryptocurrency regulation an important factor when voting for political candidates.

This initiative comes as Binance Charity pledged to provide over 30,000 scholarships in 2023. The organization says it has committed $23 million to 32 Web3 social projects since its inception in 2018. At the time of the announcement, over 82,000 applicants were interested in joining the next cohort, equating to an acceptance rate of about 37%. The success of such initiatives highlights the growing interest and importance of cryptocurrency education and innovation in the blockchain industry.

As cryptocurrencies and blockchain technology continue to gain mainstream adoption, Bitget’s Blockchain4Youth initiative seeks to address the need for greater understanding and knowledge among young people. The project aims to provide a platform for the next generation of entrepreneurs to develop innovative solutions and drive the growth of the industry forward. With its commitment to corporate social responsibility, Bitget is setting an example for other blockchain firms to follow, and this initiative could pave the way for further investment in cryptocurrency education and innovation.

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Hong Kong to Release Cryptocurrency Exchange Licensing Guidelines

by Blockchain News

The Hong Kong Securities Futures Commission (SFC) is set to release guidelines for cryptocurrency exchange licensing in May, as it moves to support trading services to retail investors from June 1. According to Bloomberg, the plans were confirmed by the SFC’s CEO, Julia Leung, who revealed that over 150 interested parties had provided feedback during the consultation process on the licensing regime.

The upcoming guidelines will likely include regulatory requirements for Anti-Money Laundering (AML) and Know Your Client (KYC) measures, among other considerations. A February 20 report by the SFC also highlighted these factors as important for regulating virtual assets.

While most prospective Virtual Asset Service Provider (VASP) licensees are still awaiting confirmation, some trading platforms have already received licenses from the SFC. Among them are OSL and Hashkey Group, according to Reuters.

However, not all trading platforms have chosen to stay in Hong Kong amid its ambitions to become a major crypto hub. Bitget, which boasts $1.4 trillion in assets in reserve, announced on April 24 that it would cease offering services to its Hong Kong customers when the VASP regime takes effect on June 1.

Despite this setback, the release of the licensing guidelines is expected to bring further clarity and regulation to the Hong Kong crypto market, while also providing a framework for legitimate trading platforms to operate under. This could help to boost investor confidence in the sector and support the city’s wider efforts to establish itself as a leading hub for digital assets and blockchain technology.

Hong Kong has already made significant strides in this area, with its Securities and Futures Commission becoming one of the first regulators to issue guidance on digital asset fund managers in November 2018. The city has also played host to a number of high-profile crypto events in recent years, including the Token2049 conference, which attracts blockchain industry leaders from around the world.

Despite this progress, however, Hong Kong still faces stiff competition from other global crypto hubs, such as Singapore and Switzerland. By introducing clear licensing guidelines and regulatory requirements for crypto trading platforms, the SFC may be able to help Hong Kong strengthen its position in this increasingly competitive field.

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Bitget Pledges $10 Million for Fetch.ai Ecosystem

by Blockchain News

A big cryptocurrency derivatives exchange known as Bitget just just made the news that it will be spending $10 million towards the development of an ecosystem that is known as Fetch.ai. An artificial intelligence agent network is the primary offering made available by Fetch.ai, a startup that specializes in the provision of infrastructure for autonomous service providers. This network makes it possible for decentralized and autonomous agents to carry out a range of tasks, ranging from simple data processing to complex financial modeling. In addition, the smart wallet that is provided by Fetch.ai includes automation and interaction with OpenAI’s ChatGPT API. This API was first introduced in January 2023 and has amassed a user base of one hundred million users in only a few short months after its debut.

The investment that Bitget has made in the AI infrastructure provider Fetch.ai has two main goals: one is to contribute to the firm’s continued growth and the other is to encourage the extension of commercial partnerships that the company already has. Bitget cited the recent AI buzz that was generated by OpenAI’s ChatGPT as evidence that the technology has the potential to increase human productivity and creativity. As part of the partnership, Bitget will provide marketing consultancy and other services to Fetch.ai in order to aid the firm in growing its clientele.

According to CoinGecko, Bitget is now the ninth largest cryptocurrency spot exchange in the world, with a daily transaction volume of $990 million in bitcoin. This information was obtained from Bitget. Bitget, a company that now serves over 8 million consumers, has its headquarters in the Seychelles. The company’s clientele is spread out throughout more than one hundred countries and territories. In April 2023, Bitget was awarded a regulatory license, which cleared the way for the firm to start providing its services to customers in Lithuania. In the previous month, the firm made an investment of $30 million in the multichain wallet provider BitKeep. As a result of this investment, the corporation became the dominant investor in the company.

As a direct consequence of Bitget’s investment, it is projected that Fetch.ai would see increased levels of growth. The company is in the process of increasing the size of its infrastructure so that it can support autonomous services. As a result of Bitget’s financial support, Fetch.ai is in a position to both expand the scope of its commercial relationships and continue the development of innovative products. These are the kinds of problems that can be solved with the help of artificial intelligence.

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Bitcoin (BTC) $ 26,799.18 2.27%
Ethereum (ETH) $ 1,646.61 3.07%
Litecoin (LTC) $ 64.57 2.08%
Bitcoin Cash (BCH) $ 237.14 5.13%