Bitget Exchange has released its latest Proof of Reserves (PoR) report, demonstrating a total reserve ratio of 169%. It has also announced the establishment of a Protection Fund, which will publish its valuation monthly to further enhance user protection and reduce potential risks.
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Leading global cryptocurrency exchange and Web3 company Bitget has recently released its latest Proof of Reserves (PoR) report, with a total reserve ratio of 169%, maintaining its commitment to full transparency. This PoR report represents Bitget’s commitment to its users, ensuring that their funds are fully supported on a 1:1 basis and available as needed.
The reserve ratios for cryptocurrencies such as BTC, ETH, USDT, and USDC are regularly updated, highlighting Bitget’s commitment to providing a secure and transparent trading environment for its users. In addition to maintaining robust reserves, Bitget has also established a Protection Fund, which will publish its valuation monthly to further enhance user protection and reduce potential risks.
(Bitget Image)
According to Bitget’s monthly report for April 2024, the exchange has made significant progress in various aspects. Bitget’s contract trading volume increased by 146% in the first quarter of 2024, reaching 1.4 trillion US dollars. Data from CCdata shows that Bitget achieved the highest growth rate of 1.39% among the top 14 derivatives exchanges, demonstrating sustained growth within the quarter.
(Bitget Image)
Bitget continues to demonstrate its dominant position in the cryptocurrency contract market, with its Open Interest (OI) indicator surpassing 6 billion US dollars on May 4th, accounting for 25% of the total market share. Currently, Bitget maintains a strong position with an OI of 6.22 billion US dollars. The exchange’s outstanding performance further indicates that its open contract volume exceeds the BTC market price level, indicating a bullish sentiment among traders towards Bitcoin’s price trend.
(Bitget Image)
In April, Bitget experienced unprecedented growth in the number of new contract trading accounts, reaching a historical high of 23% growth. Notably, 82% of these accounts opened positions on the BTC-USDT trading pair. Impressively, BTC maintains a leading position with over 60% of the opening positions in Bitget’s contract market.
While cryptocurrency trading volumes have generally slowed down, Bitget’s spot trading volume increased by 34.8%, while contract trading volume rose by 61.9%. According to data from The Block, Bitget has become the leader in Open Interest (OI) share, surpassing 6 billion US dollars and accounting for 25% of the total market.
Bitget has expanded its asset selection by integrating 872 new tokens, thereby increasing interest and trading volume. The newly launched PoolX platform offers staking and mining services, attracting a large number of participants with high Annual Percentage Rates (APR). Tokens such as Kitten Haimer (KHAI), Dimitra (DMTR), Roost Coin (ROOST), and Nettensor (NAO) have performed well, boosting the popularity of PoolX.
Another new product in Bitget’s ecosystem is pre-listing trading, which allows users to trade before new tokens are listed. This feature enhances liquidity and provides early entry opportunities for promising projects such as EigenLayer (EIGEN) and Merlin Chain (MERL).
Bitget’s achievements are attributed to its innovative strategies, strong community expansion, cutting-edge product optimization, and significant market share increase in the cryptocurrency industry. The company’s focus on ecosystem expansion and introduction of new features solidify its leadership position in the ever-evolving cryptocurrency field.
About Bitget
Founded in 2018, Bitget is a world-leading cryptocurrency exchange and Web3 company, serving over 25 million users in more than 100 countries globally. Bitget is dedicated to helping users trade more intelligently through its pioneering copy trading feature and other trading solutions.
Bitget Wallet, formerly known as BitKeep, is a world-class multi-chain cryptocurrency wallet that offers a range of comprehensive Web3 solutions and features, including wallet functionality, exchange, NFT marketplace, DApp browser, and more. Through partnerships with legendary Argentine footballer Lionel Messi and official esports event organizer PGL, Bitget encourages the adoption of cryptocurrencies.
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Disclaimer: This article is a sponsored content provided by a contributor and is not affiliated with Dongqu. The article does not intend to provide any investment, asset, or legal advice, nor should it be construed as an offer to buy, sell, or hold assets. Any services, programs, or tools mentioned in the sponsored content are for reference only, and the actual content or rules will be subject to the contributor’s announcement or explanation. Dongqu is not responsible for any potential risks or losses. Readers are advised to conduct their own careful verification before making any decisions or actions.
(Bitget Related Reports:
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How Do Star Traders Shine in the Market? In-depth Analysis of Bitget’s Copy Trading Data, the Golden List with a One-in-a-Hundred Thousand Chance)