The Bitcoin
market left behind a very long crypto winter in 2023, allowing companies in the
industry to continue their dynamic development. Among them was Bitget, the
crypto exchange that celebrated its fifth anniversary and expanded
significantly across several key metrics.
Gracy Chen,
the Managing Director of Bitget, published an open letter in which she
summarized the increase in spot volumes, employment growth, and the acquisition
of a record number of clients, as well as outlined the exchange’s plans for
2024.
Although
Bitget originally focused on crypto derivatives, the company reopened its spot
markets in 2021. This strategic move paid dividends in 2023, with spot trading
volumes rising 94% year-over-year.
“Though
originally focused on futures products, we reopened the spot market,” said
Chen. “In 2023, we went all-in in spot trading and our efforts have paid
off significantly.”
The increase
outpaced broader spot market growth and cemented Bitget as a major exchange . For
example, Bitget’s volume at the beginning of the year was $15.3 billion, and in
the record-breaking November 2023, it grew to almost $30 billion.
Over the
year, the company, among other things, rebranded the BitKeep wallet to Bitget
Wallet following its acquisition. It additionally introduced a swap offering, enhancing
multi-chain trading capabilities. In the second half of the year, the exchange
launched a fund called…
