Bitget Records Highest Capital Inflow and Open Interest Surged 39.2% in May, Reaching $9.74 Billion - Chainwire

18Jun

Bitget Records Highest Capital Inflow and Open Interest Surged 39.2% in May, Reaching $9.74 Billion

Victoria, Seychelles, June 18th, 2024, Chainwire

Bitget, the world’s leading cryptocurrency exchange and Web3 company, has navigated May with resilience, maintaining its position as a top derivative exchange with the highest capital inflow amongst centralized exchanges and sustained open interest growth.

According to CCData’s report, During the wake of the Bitcoin Halving and BTC ETF events, the combined spot and derivatives trading volume on centralized exchanges declined by 20.1% to $5.27 trillion in May. However, open interest on derivatives exchanges surged by 30.5% to $55.2 billion. Against this backdrop, Bitget experienced a remarkable 39.2% increase in open interest, reaching $9.74 billion, solidifying its standing as a leading derivative exchange.

Source: CCData

Concurrently, Bitget recorded the highest one-month inflows among all centralized exchanges in May, with $975.4 million in capital flowing into the platform according to on-chain data from DeFiLlama. This substantial influx of capital firmly establishes Bitget as an industry leader.

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Source: DeFiLlama

In May, Bitget significantly expanded its asset selection by listing 62 new tokens, driving notable interest and increased trading volumes. Among the top-performing additions, $TURBO, $MNTC, $CEL, $LIFEFORM, and $WOJAK saw impressive gains ranging from 260% to 1430%, demonstrating Bitget’s proactive approach to meet evolving market demands and highlighting the substantial potential for lucrative returns within its ecosystem.

Source: Bitget

In addition, Bitget listed 19 new tokens on PoolX, attracting 120,381 participants to stake a total of 427 million USDT throughout May. PoolX listed 21 tokens in total, with standout gains from UDS (86%) and DOGEMOB (26%), along with significant market cap increases for ATS (46%) and APRS (17%). The average annual percentage rate (APR) of 10%-45% further contributes to the product’s growing demand and success.

The month was also punctuated by pivotal developments at Bitget, including the appointment of Gracy Chen as the new CEO, the launch of the BWB token, a Signal Bot to revolutionize crypto trading insights dissemination on Telegram, the rollout of the Elite Trader campaign, and global celebrations of Pizza Day.

For more information on the monthly report, users can visit here.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).