Bitget May 2024 Report: Record Capital Inflow, New CEO Appointment, and BWB Token Launch

Introduction

Amidst the aftermath of Bitcoin Halving and BTC ETF events, the cryptocurrency market entered a phase of consolidation in May. Bitget navigated this period with resilience, maintaining its position as a top derivative exchange. The month was marked by significant developments within Bitget, including the appointment of a new CEO, the launch of the BWB token, the introduction of the Elite Trader campaign, and Pizza Day celebrations worldwide. Additionally, Bitget continued to excel in key metrics, such as capital inflow, open interest and website traffic, reaffirming its prominence in the crypto industry.

Bitget in numbers

Retain momentum in Open Interest

According to CCData's report, while the combined spot & derivatives trading volume on centralized exchanges fell 20.1% to $5.27tn, the open interest on derivatives exchanges increased by 30.5% to $55.2bn in May. Bitget - as one of the three largest derivative exchanges — saw open interest rise by 39.2% reaching $9.74bn respectively.

Leader in capital inflow and website traffic

According to DeFiLlama's on-chain data, Bitget recorded the strongest one-month inflows in May among all centralized exchanges, with $975.4 million in capital flowing into the platform, establishing it as an industry leader.

Additionally, Bitget's website traffic increased significantly by 47% in May, with a 10 million monthly traffic surge. The majority of this traffic came from Vietnam, Indonesia, and Korea, each accounting for less than 10% of the total traffic, indicating growing global interest in the platform.

Monthly highlights

New CEO appointment

Bitget has proudly appointed Gracy Chen as its new CEO, effective May 2024, succeeding Sandra Lou. Gracy brings over 10 years of experience in business management, marketing, and investment, having led Bitget's global expansion and quadrupled its user base through strategic partnerships and a robust affiliate network since joining as Managing Director in June 2022. She has been instrumental in transforming Bitget into a top-five crypto exchange. Gracy also advocates for diversity in crypto, spearheading the #Blockchain4Youth and #Blockchain4Her initiatives to promote Web 3 adoption and gender inclusivity. For more insight into Gracy's journey and future plans at Bitget, you may also read "A letter from Bitget CEO ".

Elite Trader Campaign With Five Prestige Crypto Influencers

The company launched its Elite Trader campaign to empower traders with innovative features and expert insights. This initiative aims to enhance accessibility, efficiency, and education for all users. Supported by five renowned crypto influencers, including Long, Annii, Matthew, Brain Bro Crypto, and David Justin Academy, the campaign highlights Bitget’s unique features like copy trading, staking, advanced analytics tools, and trading bots. The campaign's goal is to revolutionize the trading experience, inspiring traders to achieve their financial goals with confidence. For more information, visit the Elite Trader campaign page.

Blockchain4Youth Celebrates 1st Anniversary

Bitget celebrated the first anniversary of its Blockchain4Youth program by launching recap videos of the initiative. In its first year, Blockchain4Youth has engaged over 6,000 participants through 54 campus lectures and workshops globally, issuing over 2,000 certificates to successful participants. The program collaborates with prominent influencers and over 51 universities, including University College London and National Technological University in Argentina. Launched in May 2023 with a $10 million commitment, the initiative aims to drive Web 3.0 adoption among Millennials and Generation Z. Bitget plans to expand Blockchain4Youth by offering more scholarships and online courses.

Listings

Bitget has significantly expanded its asset selection by adding 62 new tokens to its platform in May, sparking notable interest and increased trading volumes. This strategic expansion highlights Bitget's ability to identify and introduce promising tokens promptly. The top 5 tokens, including $TURBO, $MNTC, $CEL, $LIFEFORM and $WOJAK, have seen impressive gains ranging from 260% to 1430%. This data underscores Bitget's proactive approach to meeting evolving market demands and highlights the substantial potential for lucrative returns within its ecosystem.

Additionally, Bitget listed 19 new tokens on its PoolX platform, attracting 120,381 participants who staked a total of 427M USDT throughout May. Of all those offerings, tokens with standout gains from UDS (86%), DOGEMOB (26%), and significant market cap increases from ATS (46%) and APRS (17%). The average annual percentage rate (APR) of 10%-45% further contributes to the product's growing demand and success.

PoolX projects May recap by CryptoResearch

New Feature and Integration

Telegram Signal Bot

Bitget has launched a Telegram Signal Bot to revolutionize crypto trading insights dissemination on Telegram. The bot empowers group owners to effortlessly share trading signals with followers, offering monetization opportunities. With one-click signal sharing and robust group management features, the bot aims to enhance group quality and engagement. Beta testing runs from May 27 to June 27, 2024, with incentives provided for participants to offer valuable feedback. The company highlights Telegram's potential for value creation, envisioning the bot to empower more crypto enthusiasts and foster ecosystem growth.

King's Cup Global Invitational (KCGI) 2024

The King's Cup Global Invitational (KCGI) is the international crypto trading highlight every year at Bitget. The official futures trading competition is currently underway and will conclude on June 27th. As of Jun 10th, we have received applications from 1,810 teams and 114,831 participants, unlocking a 3,000,000 USDT prize pool. The prize pool can go up to 5,000,000 USDT, the more participants the bigger prize pool!

Bitget Wallet

Bitget Wallet Unveils Bitget Onchain Layer, Rolls Out $10M BWB Ecosystem Fund

Bitget Wallet has launched the Bitget Onchain Layer, integrating native DApps and establishing a $10 million BWB Ecosystem Fund to accelerate Web3 development. This new layer aims to streamline user interactions and enhance liquidity and security through Modular Feature-DApps (MFDs). Bitget Wallet, which has evolved since 2018 into a comprehensive DeFi platform, now boasts over 20 million users globally and surpasses MetaMask in trading volumes. The Onchain Layer will simplify Web3 interactions, support developers, and offer new financial services, while also focusing on the Meme ecosystem with initiatives like the $MOEW token and a Meme token leaderboard.

Ecosystem Token BWB listed on Bitget and Bitget launchpad

Bitget Wallet's native token BWB has been listed on Bitget Wallet and the Bitget Launchpad platform. The BWB token offers functionalities including community governance, staking rewards, and exclusive access to Launchpad, Launchpool, and Airdrop events, enhancing user engagement and value within the Bitget ecosystem.

Bitget Wallet Tops CertiK Crypto Wallet Security Leaderboard

Bitget Wallet climbed to the top spot on CertiK's Security Wallet Leaderboard in May, surpassing Trust Wallet and MetaMask, underscoring its robust security capabilities as a non-custodial Web3 wallet. With a focus on preventive measures, including "keyless" MPC and AA wallet technology integration and support for hardware wallets, Bitget Wallet aims to address common security concerns like private key loss and malicious contract authorization. Rigorous security audits and a comprehensive risk alert system further enhance its security posture.

Bitget Events Worldwide

Pizza Day celebrations

In May, we hosted 20 offline Pizza Day events around the world, including in Brisbane, Buenos Aires, São Paulo, Taipei, and more, where we connected with nearly 3,000 BTC and Pizza fanatics across five continents to celebrate this iconic crypto annual festival. For more information, please visit HERE .

Industry conferences

Bitget made waves at several conferences in Europe, including the women-led conference Unlock Summit in Mexico, where we introduced our #Blockchain4Her initiatives; our first Next Block Conference in Warsaw; and Memecon Lisbon , where we had insightful exchanges with many creative projects.

Unlock Summit - Mexico

Memecon - Portugal

Blockchain4Youth anniversary

And last but not least, Bitget celebrated its first #Blockchain4Youth anniversary in May, where we have celebration events with the youth in Philippines and Argentina.

Must-Reads from Bitget Academy:

In May, we released 50+ new educational pieces on Academy and Blog.

Here's the must-read list:

#HotTopics: Bitcoin Pizza Day , Bitget Wallet (BWB) IEO , A Primer On BWB Valuation , BWB Price Prediction

#ETFs: Spot ETH ETFs & A Rocky Road to Regulatory Acceptance

#BeginnersGuide: Bitget's KCGI 2024 Is Happening , Bitget Copy Trade Telegram Signal Bot , Common Cryptocurrency Scams: Bitget's Safety Guide

Bitget on the news

20 AI-Powered Ideas For Building Sustainable Content Strategies - Forbes

How to Rebalance Your Crypto Portfolio: Top Strategies & Analyst Tips for 2024 - Technopedia

How Top Exchange Maneuver Crypto Bull Market? - Around the Coin

Blockchain education initiatives take off amid crypto bull market - Cointelegraph