Bitget becomes second-largest crypto exchange ecosystem by userbase

Bitget , the leading cryptocurrency exchange and Web3 company has released its 2024 transparency report highlighting one of the most successful years the company has experienced since its launch in 2018 emerging as the second-largest exchange ecosystem by user base. Driven by innovation, strategic business decisions and a strong demand for trustworthy platforms have pushed the ecosystem to expand beyond expectations.

The platform experienced a surge in its user base, expanding from 20 million in January to over 100 million in December—an extraordinary growth of 400%. This expansion was matched by significant advancements in trading activity, with daily volumes doubling to $20 billion. Spot trading volumes grew exponentially, rising from $160 billion in Q1 to $600 billion in Q4. These achievements have been driven by a focused strategy involving highly competitive offerings, user-centric innovations, and global expansion.

Between 2021 and 2024, Bitget’s user base saw substantial growth across various regions. South Asia grew by 200%, while Southeast Asia expanded by 140%, European users increased by 67%, and Latin America and the Middle East saw significant surges. The CIS region experienced 150% growth, and Africa had the highest increase of 300%.

Throughout 2024, Bitget introduced a range of initiatives that accelerated its growth amidst CEX ecosystems. The growth is attributed to the growing demand for digital assets worldwide for which Bitget offers a multitude of centralized and decentralized services. The integration of Bitget Wallet’s “Smart Money” tools, customized for advanced on-chain data analysis, and the launch of PoolX, a stake-to-mine platform, enhanced user engagement and diversified investment opportunities. Additionally, the company launched a pre-market trading platform, providing users with seamless access to new tokens and liquidity ahead of listings.

Bitget made a $30 million strategic investment in The Open Network (TON) blockchain with Foresight Ventures, aligning with its support for emerging trends like GameFi and Tap-to-Earn. TON’s rapid growth in transaction volumes and decentralized app adoption also played a significant role in leveraging the market opportunities.

The platform’s native token, BGB, grew by over 1000%, with its value increasing tenfold to reach $8 by year-end. A newly implemented burn mechanism, combined with enhanced token utility and an updated whitepaper, contributed to this growth. By reducing total supply and introducing a quarterly token burn program, Bitget positioned BGB as the core of its ecosystem’s future growth.

In 2024, leadership transitions further defined Bitget’s trajectory. Gracy Chen, previously the Managing Director, assumed the role of CEO, becoming the only female leader among the top 10 global exchanges. Alongside her, Hon Ng was appointed Chief Legal Officer, Vugar Usi Zade as the Chief Operating Officer and Min Lin as Chief Business Officer. This strong leadership team has been strategic in driving strategic initiatives, compliance advancements, and user-focused developments.

With this, Bitget obtained key approvals, including a UK license, a Bitcoin Service Provider (BSP) license in El Salvador, and launched a localized exchange in Vietnam. These advancements operate in alignment with regional standards while expanding its global presence.

Bitget also made strides in corporate social responsibility through initiatives like Blockchain4Her, which promotes gender diversity in blockchain, and Blockchain4Youth, spreading blockchain awareness among young professionals worldwide. These programs reflect the exchange’s broader vision of enabling inclusive growth within the Web3 space.

With its strategic investments, regulatory successes, and user-centric innovations, Bitget enters 2025 bound for continued expansion and influence within the crypto ecosystem. The past year’s achievements shows the platform’s strategic vision in shaping the future of blockchain and crypto.