Bitget Emerges Resilient in Q3 2023, Recording a Significant 9.43% Market Share and Exceptional Performance for BGB Token
Bitget’s Resilience and Exceptional Performance in Challenging Market Conditions
An Exceptional Symbolic Performance
Bitget, a cryptocurrency derivatives and copy trading platform, showed remarkable resilience in the third quarter of 2023, despite challenging market conditions. According to their latest transparency report, Bitget’s market share rose to an impressive 9.43% in September, while the overall industry experienced a decline in spot and derivatives trading volumes.
One of Bitget’s standout achievements was the performance of its native token, BGB. BGB emerged as one of the platform’s top five tokens by market capitalization, reaching a quarterly high of $0.4927 in September. The number of BGB holders also increased to 354,472 in the third quarter, with the token’s trading volume surpassing $1.3 billion in the past three months.
Global Expansion and Strategic Partnerships
Bitget has focused on expanding its global presence and forming strategic partnerships. The transparency report highlighted collaborations with key players in the tax reporting, portfolio management, and trading automation sectors. These partnerships include alliances with Cointracking, Coinstats, CCData, Koinly, 3commas, Cobo Superloop, and others.
Additionally, Bitget has set ambitious expansion plans targeting the Middle East region, specifically Bahrain and the United Arab Emirates. To support development within its Web3 ecosystem, the platform launched the $100 million EmpowerX fund in September.
Strong Security Measures
Despite market uncertainty, Bitget’s sandbox remained robust throughout the third quarter, surpassing $300 million. The fund reached its peak at $368 million in July, effectively increasing the platform’s proof of reserves ratio by over 200%. This additional layer of security provides users with enhanced protection and peace of mind.