The fall of FTX favors other cryptocurrency exchanges, and with that, Bitget has become one of the top 3 cryptocurrency derivative exchanges in the entire cryptocurrency market.
2022 was one of the most difficult years for the cryptocurrency industry. He witnessed the collapse of the Terra (LUNA) ecosystem and the bankruptcy of Celsius and FTXwhich caused the elimination of approximately 2 trillion dollars of the cryptocurrency market.
Bitget experienced a more than 300% increase in total transaction volume, a study shows, indicating that around 80,000 traders and more than 338,000 followers have joined since then.
According to the latest data from the TokenInsight report, Bitget’s market share after the FTX collapse increased exponentially from 3% to 11% and marked the largest market share growth in the cryptocurrency derivatives sector.
By the end of 2022, the total daily open positions of the top 10 exchanges fell 27% from January and 41% from their peak in April of the same year.. Among cryptocurrency exchanges, only Bitget saw a significant increase
Gracy Chen, CEO of Bitget comments that “2022 marked one of the most important years in Bitget’s history. Our achievements during the year were remarkable, making us winners even in the face of these headwinds. Although some negative incidents occurred in the industry, Bitget was stable in growth and took this as an opportunity to further strengthen our capacity. Working with Leo Messi also reminded us all that winning and building a lasting business requires passion, perseverance and teamwork. The significant growth we have achieved is a testament to all the hard work and immense efforts our team has put into the company.”.
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