Bitget Exchange has recently published its year-end blog, providing a comprehensive overview of the pivotal events that are expected to shape the trajectory of the cryptocurrency market in 2024. The year 2023 is characterized as a mixed bag with triumphs, challenges, and exciting advancements.
One notable highlight is the substantial growth experienced by Bitget, with the workforce expanding from 1,100 to 1,500 employees during 2023. Simultaneously, the user base surged from 8 million to an impressive 20 million. This substantial increase signifies a significant leap in the platform’s growth trajectory.
Focusing initially on futures products, Bitget strategically shifted its attention to spot trading, witnessing a remarkable 94% surge in spot trading volume during 2023. The platform also introduced 355 new coin listings, marking a substantial 46% year-on-year increase in its offerings. Throughout the year, the trading firm celebrated a notable achievement with 130,000 Elite Traders and over 680,000 cumulative followers.
Bitget’s native token, BGB, demonstrated exceptional performance in 2023. Starting at $0.18, it skyrocketed to an all-time high of $0.70499 in December, reflecting a remarkable 291% surge. BGB also secured its position among the top 5 CEX platform tokens by market capitalization, solidifying its status as one of the standout exchange platform tokens for the year.
In a strategic move, Bitget transitioned from CeFi to DeFi by investing $30 million in BitKeep, now known as Bitget Wallet. This notable shift positions the trading firm at the forefront of the evolving cryptocurrency landscape.
Bitget Bet On Ethereum’s Cancum Upgrade
Looking ahead to 2024, the crypto exchange anticipates key industry trends, identifying BRC-20, ARC-20, and Bitcoin Scalability as the focal sectors to monitor. The platform also predicts that the Ethereum ecosystem will benefit from reduced gas fees through the Cancun upgrade, leveraging Ethereum nodes for temporary off-chain data storage and retrieval.
Bitget concludes by unveiling its development strategy for the upcoming year, emphasizing three critical areas: compliance, emerging markets, and Web 3. This strategic focus reflects its commitment to navigating the evolving cryptocurrency landscape and aligning its development plan with anticipated advancements in the industry.