Bitget has increased its share in the crypto derivatives market several times

Bitget is one of the top three platforms in terms of crypto derivatives trading volume, despite poor market sentiment following the FTX bankruptcy in 2022.

Last year was one of the toughest in the crypto industry due to the collapse of FTX and other major projects, as well as the difficult situation in the global economy amid growing geopolitical tensions.. Despite the difficulties in the market, the Bitget exchange continued to develop: the company was successful in expanding the team, brand and business during the crypto winter, and also increased its market share by 2.6 times. The key achievements of the company are:

  1. The exchange ranked in the top three in terms of crypto derivatives trading volume, according to a report by the Boston Consulting Group.

  2. Bitget's market share in the derivatives market has increased from 3% to 11% since the FTX crash, according to the latest TokenInsight report.

  3. Over 300% increase in total transaction volume due to the popularity of copy trading products.

  4. The number of employees has grown from 200 at the beginning of 2022 to over 1,100 in January 2023.

  5. Argentine footballer Lionel Messi has become the exclusive partner of Bitget.

Bitget's flagship copy trading product, as of December 2022, has attracted over 80,000 traders and over 338,000 subscribers, who have collectively made over 42 million profitable trades, the highest in the market.

Bitget’s market share has skyrocketed from 3% to 11% since the collapse of the once-second-largest exchange FTX, marking the biggest rise in market share in the crypto derivatives sector, according to the latest data from TokenInsight’s report.. At the end of 2022, the total daily open interest of the top 10 exchanges fell by 27.1% compared to January and 41% from the peak in April of the same year. Bitget achieved a significant increase in open interest from $841 million to $3.74 billion, representing a 344% increase.

“2022 has been one of the most important years in the history of Bitget. Our achievements for the year are simply outstanding, which makes us a dark horse in the face of black swan events.. Although there were several negative incidents in the industry, Bitget remained stable in its growth and seized the situation as an opportunity for further development.. Working with Leo Messi also reminded us all that winning and building an everlasting business requires passion, perseverance and teamwork.. The significant growth we have achieved is a testament to all the hard work and tremendous effort our team has dedicated to the company,” said Bitget Managing Director Gracie Chen.

The company focused on serving customers not only from Asian countries. As a result, by the end of 2022, the exchange has gained more than 8 million users in more than 100 countries with a presence in Turkey, Southeast Asia, Latin America and Europe.. Bitget protects user funds on the platform with a range of security policies, including the $300M Protection Fund, a custody service that promises to keep client assets safe through a merkle tree proof-of-reserve mechanism.

“As macro liquidity continues to impact the crypto market, the interest rate surge in 2023 is expected to gradually slow down. The Fed's impact on macro liquidity will also continue to influence investor expectations for the crypto market,” said Gracie Chen. “We believe that 2023 will be a year full of opportunities and challenges, and our goal will continue to be to provide our users with the best social and derivatives trading experience. We will also continue to expand our spot markets and improve the ability to optimize the trading experience on Bitget.”