Global, July 17, 2024 – Bitget, the leading cryptocurrency exchange and Web3 company, has revealed in-depth insights into its growing market share as highlighted by CCData in the 2024 H2 Outlook Report. With the growing credibility and performance of centralized crypto exchanges, it's more evident now than ever that there's a shift in paradigm in crypto space.
CCData highlights the roles of various CEXs are changing as they take up new functions and responsibilities. Among which, Bitget has witnessed the 'largest uptic' in market share by 38.4% growth followed by Crypto(dot)com and Bybit at 24.6% and 22.2% respectively. While bigger players such as Coinbase, OKX and KuCoin saw declines as compared to other growing CEXs.
"Bitget's growth can be credited to its strong community of supporters and contributors who have recognized the platform's strength and dedication to serving its users. Our recent internal analytics hint at an even faster pace of growth in the coming months, which we will leverage to bring crypto to the broader masses," said Gracy Chen, Chief Executive Officer (CEO) at Bitget.
In Bitget's recent Q2 2024 transparency report, the top derivatives exchange has dived into its growth, attributing the 50% rise in its traffic. As per Similarweb data, this rise has been recorded with growth in the CIS region, followed by the Latam market and South Asia. This primarily comes from the exchange's efforts in catering to its diverse audience with localized services throughout the globe.
The transparent tracking of Bitget's proof-of-reserves shows that in the past six months the number of users' holdings in BTC, USDT, ETH surged by 73%, 80%, and 153%, indicating nearly $700M capital inflow. As per data on DeFiLama, in June Bitget recorded the highest capital inflow of $1.3 billion, taking over inflows of Binance, OKX, Bybit and all the other major exchanges.