Transparency Report: October 2024

TLDR

Introduction

October was an eventful month for cryptocurrency prices, with notable gains and fluctuations. Bitcoin surged to a new all-time high, reaching approximately $73,000, ending the month with over 10% increase. Bitcoin gained significant traction from the rising popularity of U.S.-based Bitcoin spot ETFs, with net inflows totaling about $5.4 billion during October. Total Bitcoin holdings in ETFs, launched earlier in the year, surpassed one million bitcoins. BlackRock’s Bitcoin spot ETF, IBIT, set a new record, crossing the $30-billion mark faster than any ETF globally, achieving this milestone in just 293 days, significantly faster than the 1,790 days for the prominent gold ETF, GLD. Bitcoin mining also hit new highs in October, with hashrate reaching a record 811 ExaHashes per second (EH/s), reflecting increased mining activity and network security. The record hashrate, nearly doubling from 450 EH/s the previous year, indicates the network’s enhanced resilience and historically aligns with bullish trends in Bitcoin’s price.

These accumulations lead to the recent market surge, at Bitget we experienced similar growth.

Min announced as CBO

Bitget announced the appointment of Min Lin as its Chief Business Officer. Lin previously held the position of Regional Vice President for Latin America and Head of Business Development at Binance, where he played a pivotal role in driving the company’s rapid growth. Lin was also instrumental in securing licensing agreements and fostering relationships with regulators, ensuring compliance and facilitating strategic expansion in the region. With a wealth of experience in the digital assets sector, Lin will spearhead Bitget's initiatives to strengthen its presence in key regional markets. Under Lin’s leadership, Bitget aims to accelerate this growth and further expand its market share by delivering tailored, innovative solutions that address local needs.

Bitget Wallet Surpasses 40M Users, Expands with Bitget Wallet Lite on Telegram

Bitget Wallet has become the second most downloaded crypto app globally, reaching over 40 million users and doubling its user base in just six months. With support for 100+ blockchains, Bitget Wallet combines asset management, swaps, and staking, establishing itself as a comprehensive Web3 platform. A key driver of this growth is its integration with platforms like Telegram, where the newly launched Bitget Wallet Lite attracted 6 million users within days. Bitget Wallet Lite enables seamless, cross-chain transactions and DApp access directly within Telegram, with a simple, no-seed-phrase setup that lowers entry barriers for users. This strategy has led to notable adoption in emerging markets, especially in Africa, South Asia, and the Middle East, where demand for decentralized financial tools is growing rapidly. Together, Bitget Wallet and Bitget Wallet Lite are bridging Web2 and Web3, offering accessible, secure crypto solutions for users worldwide.

Telegram Trends Point to Crypto Boom in Africa and Eastern Europe, Bitget Research Reveals

Bitget Research released a comprehensive study showing the correlation between growing crypto-related Telegram activity and global cryptocurrency adoption. Bitget's research highlights a significant rise in cryptocurrency interest in Africa and Eastern Europe, linked to increased activity in crypto-focused Telegram groups. Africa's growth is led by its youthful population, while economic instability and limited banking access fuel adoption in both regions. By examining demographic engagement, the report underscores Telegram's role in emerging crypto markets, contrasting with slower growth in Western Europe due to regulatory barriers. The analysis also predicts that Africa's crypto user base may reach 53.89 million by 2025, with Nigeria and South Africa leading.

With over 45 million users globally, the platform has achieved a daily trading volume of $10 billion. It boasts 190,000+ professional traders and 800,000+ copy trading followers, resulting in over 90 million successful trades. Gains from profitable trades have surpassed $500 million, with elite traders sharing profits totaling $23 million. Bitget has also strengthened its security with a Protect Fund exceeding $400 million.

The platform supports over 800 tokens and 800+ spot trading pairs, generating a daily spot trading volume of $400 million. On the futures side, the USDT-M Futures trading volume stands at $7 billion, supported by 350+ trading pairs. Bitget employs a diverse workforce of 1,600+ professionals from over 60 nationalities and reaches users across 200+ regions worldwide.

Recognized as a top-tier platform, Bitget ranks third among futures trading platforms and ninth for spot trading. The company has introduced 492 new listings this year, alongside one launchpad project and 19 launchpool projects.

In terms of Pre-market Bitget featured tokens such as SCR, DBR, AIX, OGLG, and CATS and PoolX added SCR, DBR, AIX, OGLG, and CATS, offering diverse trading opportunities. In October, several tokens listed on Bitget showed remarkable surges in their monthly spot trading volumes, showcasing exceptional growth within the platform. Leading the pack was GINOA, which skyrocketed with 1623.52% increase. Following closely, DUKO and SALD recorded 1063.94% and 1003.44%, respectively. AABL saw a significant rise of 908.64%, while WUF achieved 846.06% increase. These surges show Bitget's role as a vibrant hub for trading high-potential tokens, drawing substantial attention from traders and enthusiasts worldwide.

Bitget introduces Telegram Mini App Store

Bitget has launched a Telegram App Centre featuring over 600 mini-apps related to the TON (The Open Network) ecosystem. This new feature, integrated within Bitget's platform, allows users to seamlessly engage with a range of decentralized apps, airdrop opportunities, and play-to-earn games directly through their accounts. The initiative aims to enhance user interaction with blockchain innovations and bolster TON adoption, complementing Bitget's support efforts, such as funding and priority token listings in the ecosystem. This move highlights Bitget's focus on Web3 growth and user engagement.

BG SOL launch

Bitget has partnered with Solayer to launch a CEX-based Solana (SOL) liquid staking service, introducing BGSOL tokens. This allows users to stake SOL while retaining liquidity for other decentralized finance (DeFi) activities, such as trading or lending. BGSOL holders gain staking rewards, with token value growing over time based on Solana's network performance. This flexible approach aims to enhance user engagement within the DeFi ecosystem and maximize asset utility on Solana’s platform.

Bitget Pay

Bitget has globally launched Bitget Pay, a zero-fee service enabling instant crypto payments via the Bitget App. The service supports multiple cryptocurrencies like BTC, ETH, and USDT, offering fast and borderless transactions. Aimed at enhancing cross-border trade and international payments, it integrates blockchain efficiency for seamless peer-to-peer transfers. Users must undergo KYC verification for secure transactions and can initiate payments using QR codes or recipient details. Bitget Pay seeks to broaden crypto adoption, reflecting growing demand for digital currency solutions globally.

Bitget Wallet Reaches 40M Users, Second Only to Binance

Bitget Wallet surpassed 40 million users worldwide and become the second most downloaded crypto app after Binance. Its all-in-one Web3 platform supports asset management, swaps, and staking across 100+ blockchains, with partnerships like Telegram/TON ecosystem driving impressive adoption in emerging markets. Bitget Wallet's robust features and security make it a leading decentralized gateway to Web3, highlighting the growing demand for non-custodial wallets as key entry points into the space.

Bitget Wallet Lite Hits 6M Users, Expands Crypto Access on Telegram

Bitget Wallet Lite quickly reached 6 million users, becoming the largest multi-chain wallet on Telegram in says after launch. Supporting over 100 blockchains, including Solana, TON, and EVM chains, it enables rapid cross-chain transactions and crypto purchases with 40+ fiat currencies. With a one-click, no-seed-phrase setup, users can seamlessly purchase, send, receive, and manage crypto among Telegram contacts, track transactions, and access DApps directly within the app—bringing Web3 functionality to Telegram's vast user base.

Bitget made its mark globally in October with events in Jakarta and Manila in Southeast Asia, and multiple conferences in the CIS region. The highlight was Blockchain Life in Dubai, where we hosted a meet and greet with one of our LALIGA ambassadors, and a special masquerade party to celebrate Bitcoin Whitepaper Day. The two-day Blockchain Life event was bustling with engaging activities and our energetic team members, making our booth one of the busiest at the venue. Gracy delivered an insightful keynote, sharing Bitget's secret sauces to success, while Vugar participated in a panel discussion on safety, security, and our long-term vision to grow the ecosystem even amid a bear market. The week of events in Dubai concluded with a high note at the "Who's Satoshi" masquerade party, celebrating the theme of anonymity in the crypto world. We also invited Gsixks Mendieta, one of the very popular LALIGA ambassadors to our event where we also handed out awards to the best performing CIS community members.