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On the Bitget platform, it is the Zoomers who make up 44% of copytrading users, showing the greatest interest and activity in this trading format. In their report, which is available to Bits.media, analysts at the exchange said that 109 000 users made profits with copytrading in the first half of 2023, with 93% of the service’s subscribers making profits when trading in the futures market and 82% in the spot market.
Users copied bitcoin (52%) and ether (44%) trades most often. Meanwhile, futures trading accounts for 91% of all copy-trading transactions, with spot trading the remaining 9%.
“New users in 2023 showed more interest in copytrading compared to 2022. The total number of profitable copiers exceeded 16 million. As for the financial profit, the total revenue from copy trading exceeded $74 million, which indicates the growing interest in this method of trading in the cryptocurrency market,” – said the representatives of the site.
The most frequent users of the Bitget exchange copying service are residents of Western Europe (31%), East Asia (26%) and Southeast Asia (19%). However, the highest level of interest is shown by residents of Africa, followed by CIS countries, Western Europe and East Asia. This trend can be attributed to the emerging cryptocurrency market in Africa and the CIS, where users are often less experienced and more likely to use copytrading.
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“Among followers who profit from copy-trading on futures, about 70% on average follow more than seven elite traders. That is, users actively sought multiple sources of trading expertise to maximize returns in futures trading,” the researchers said.
The Bitget exchange recently unveiled a
CTA (Commodity Trading Advisor) strategy equipped with an advanced AI bot.