Airdrops

Bitget and BGB Token Flourish in First Quarter of 2024, Says Latest Report

Photo for the Article - Report: Bitget, Native Token BGB Thrive in Q1 2024

Cryptocurrency platform Bitget has recently announced that its platform token, BGB, has shown strong performance in the first quarter of this year. According to a report by Token Insight, BGB’s market cap reached $68 billion in February 2024, accounting for 3.2% of the total cryptocurrency market cap, a slight decrease from the previous year.

Bitget and BGB Q1 Performance

Token Insight’s report highlighted a significant 434% surge in BGB’s market value, making it the second most traded exchange token by volume. Since early 2023, BGB has been on an upward trend, with a price increase of 432.7%.

Bitget’s initial exchange offering (IEO) projects have also played a role in its market performance, aligning with trends like GameFi and SocialFi. Despite industry challenges, Bitget’s expansion efforts in 2023 propelled BGB to new all-time highs in February 2024, reaching $1 for the first time.

Strategic Initiatives

Bitget emphasized its rapid growth in the first quarter of 2024 in a recent media release, becoming the fastest-growing exchange in the crypto market. With over 25 million users across more than 100 countries and regions, Bitget reported a daily trade volume of $10 billion. Since its establishment in 2018, Bitget has become a prominent cryptocurrency exchange and web3 company, taking inspiration from Bitcoin. It prioritizes user safety through a $500 million protection fund and a Proof of Reserves system launched in December 2022.

Bitget attributed its Q1 2024 growth to strategic listings of projects like MEME, AI, RWA, and inscription tokens. The exchange also bolstered its market position through partnerships, including an ongoing collaboration with football icon Lionel Messi through the #MakeItCount campaign.

BGB

BGB serves as the native utility token for Bitget, launched in July 2021. It plays a significant role within the Bitget network, facilitating various functions like contract trading, spot trading, KOL collaborations, merchant partnerships, and social interactions. Bitget incentivizes token holders with perks such as early access to features, VIP membership benefits, free daily withdrawals, spot fee discounts, GroupCoin pooling for discounts on coins, higher Earn returns, and subscription discounts.

Recent Bitget News

Two airdrop campaigns were organized last month by Bitget Wallet to enhance user engagement. The Bitget Wallet, a multi-chain web3 wallet, hosted events to promote blockchain adoption. The anticipated release of its native token, BWB, in the second quarter of 2024 will offer users benefits like governance rights and ecosystem rewards.

In March, DEVCON Manila and Bitget co-hosted the TechTopia: A Geek Odyssey event in One Ayala Makati, attracting 100 attendees, mainly Computer Science and Information Technology students and professionals. In February, Bitget hosted the Bitget Ignite PH 2024: Gala and Awards Summit at Okada Manila, bringing together over 90 key opinion leaders, influencers, VIPs, and potential partners.

In January, Bitget launched the Blockchain4Her initiative, committing $10 million to enhance gender diversity in the blockchain sector. This project aims to foster inclusivity through awareness campaigns, collaborative initiatives, and creating supportive environments for women, including diverse funding opportunities.

This article was published on BitPinas: Report: Bitget, Native Token BGB Thrive in Q1 2024

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