Bitget Q2 2024 Transparency Report Showcases Substantial Increase in Website Traffic, Inflow of Funds, and New Users

Bitget, the leading cryptocurrency exchange and Web3 company, has released the quarterly transparency report for Q2 2024 showcasing the company's progress in the year so far.

Cryptocurrency exchange Bitget has released its quarterly transparency report for Q2 2024, highlighting the exchange's growth, new product launches, and key partnerships.

According to the report, Bitget experienced a substantial increase in website traffic during Q2, seeing a nearly 50% rise to reach 10M monthly visitors. The exchange's inflow of funds also increased, with data from the Bitget Proof-of-Reserve (PoR) page indicating that in the first 6 months, the amount of users' BTC, USDT, and ETH surged by 73%, 80%, and 153% respectively, equaling approximately $700 million in capital inflow. This growth was further complemented by the addition of 2.9 million new users to the platform.

Bitget continued to expand its product offerings with the launch of two new initial token listing products, PoolX and Pre-market. PoolX introduced a new staking platform allowing users to earn tokens by staking BGB and USDT, while Pre-market enabled trading for tokens not yet officially listed on major exchanges. These products saw the launch of a combined total of 100+ projects, providing more high-potential offerings and attracting significant user participation.

In June, BGB recorded tremendous growth as the best-performing CEX token. Notably, BGB was also ranked in the Top 10 cryptocurrencies by Forbes recently. Furthermore, CCData's latest H2 Outlook Report projected that Bitget had the largest market share growth amongst CEXs, amounting to 38.4% from H2 2023 to H1 24, while most other counterparts experienced a slight drop.

A major highlight of the quarter was the partnership with three Turkish national athletes – Buse Tosun Çavuşoğlu (Wrestling), Samet Gümüş (Boxing), and İlkin Aydın (Volleyball) – as part of the #MakeItCount Lionel Messi campaign. The athletes, embodying perseverance and passion, represented the campaign's essence, aiming to motivate audiences to achieve new heights and make lasting impacts. This move was also a part of Bitget's rapid expansion in Turkey.

In collaboration with Foresight Ventures, Bitget also launched a $20M TON Ecosystem Fund to support early-stage projects building on The Open Network (TON). This initiative was to accelerate innovation and development within the TON ecosystem, aligning with the broader goal of driving mass adoption of crypto at Bitget.

"The pivotal growth and expansion of Bitget in the MENA market during Q2 2024 was inevitable. We successfully onboard over 85,000 new users, which showcases our strong presence and appeal in the region," said Aka Leug, MENA Regional Director.

"With our ongoing dedication and relentless efforts, Bitget will continue to thrive and lead the way in the ever-evolving landscape of digital assets. We are excited about the prospects that lie ahead and remain committed to providing innovative solutions and exceptional experiences for our users. Together, we will navigate the exciting journey of the digital asset revolution," he added.

The exchange continues to maintain its proof-of-reserves, with the latest report highlighting reserve ratios well above 100% for all major assets. Additionally, Bitget's Protection Fund, now valued at approximately $420M+, stands as one of the largest in the industry, providing an extra layer of security for users.