Since 2023, Crypto’s industry narrative has undergone very obvious changes, shifting from a capital narrative to a community narrative. The craze of inscriptions and Meme coins is the best proof. The rotation of narratives has caused more people to pay more attention to the decentralized ecology. In this process, the importance of Web3 wallet has become more and more prominent.
In fact, in the past two years, more and more entrants have entered the wallet track and competition has intensified. Not only DEXs like Uniswap, but also leading exchanges such as OKX and Binance have entered the game. When combing through the current wallet circuit, the leading players will find that there is a player who does not seem to be seriously paid attention to and taken seriously by many people, but is developing very rapidly——Bitget Wallet 。
This week, Bitget Wallet announced the launch of its own platform token BWB and launched an airdrop activity for new and old users, which attracted market attention. According to the latest data, the number of Bitget Wallet users has exceeded 20 million, ranking fourth in the world.
For many new users who don’t know Bitget Wallet, Bitget Wallet seems to be just a wallet layout of the Bitget exchange ecosystem, but in fact, from its predecessor BitKeep to today’s Bitget Wallet, after more than 5 years of development, Bitget Wallet has grown into A wallet that stands out among its peers in terms of product functions, user base, and international influence.
To some extent, it can even be said that Bitget Wallet is the Asian version of MetaMask.
From wallet to decentralized ecological platform
For users in the Chinese-speaking region, especially those who have experienced DeFi Summer, Bitget Wallet (formerly known as BitKeep) is a product that impresses everyone. When the AMM represented by Uniswap emerged, Bitget Wallet was the first to understand the trend and capture the opportunity, and launched the DEX market Function, almost every user playing in DeFi will use Bitget Wallet to find and trade new tokens.
While other wallets are just a private key manager or asset management tool, Bitget Wallet has broken away from this definition and limitation, such as:
The first wallet that takes a full-chain perspective. While most wallets only rely on and support a certain public chain, Bitget Wallet is already breaking down inter-chain barriers, allowing users to manage multi-chain assets with one wallet.
The first wallet to launch DEX market conditions, starting from on-chain market prices on Ethereum and gradually expanding to multiple chains, providing real-time intelligent asset prices and popular lists;
The first wallet to implement and promote seamless cross-chain transactions, allowing users to freely move assets between any public chains without having to understand concepts such as gas fees and cross-chain bridges;
The first wallet to launch Launchpad, allowing users to participate in new projects within the wallet and capture more new money-making opportunities.
Comparing the product structure and functions of the current wallet track, you will find that Bitget Wallet has unknowingly become the leader.
In 2022, Bitget Wallet completed a US$15 million Series A financing led by Dragonfly Capital, with a valuation of US$100 million; the following year, it received another 30 million from Bitget, the worlds top ten centralized exchanges and the top five derivatives exchanges. USD investment, the valuation rose to US$300 million. Investments from well-known institutions such as Dragonfly Capital are recognition of Bitget Wallet and also provide assistance for the further development and growth of Bitget Wallet.
Bitget Wallet has always been known for its smooth Swap transaction experience, and continues to optimize and innovate this feature.
Compared with other products, Bitget Wallets Swap function not only supports a more comprehensive range of chains and tokens, but also provides auxiliary market information, including trend analysis of all chains, rankings in various dimensions, and smart money tracking, which can assist users Trading decisions. Through on-chain data, we can see that Bitget Wallet has a high on-chain transaction penetration rate, and its transaction volume often ranks among the top ten among all DeFi projects, basically on par with MetaMask, or even surpassing it.
In addition to its investment and efforts in Swap, Bitget Wallet is also constantly expanding the boundaries of its capabilities, such as launching an NFT trading market, a full-chain inscription tool, a currency earning center, etc.
In short, if you are a user and open Bitget Wallet, you will find that although this product has wallet in its name, it has actually gone beyond the scope of wallet and has grown into a wallet, DEX, market tools, NFT market, and inscription center. Super aggregator and decentralized ecological platform.
The continuous improvement of advantageous functions and the continuous expansion of product boundaries have laid a relatively solid foundation for the rapid growth of Bitget Wallet.
Focus on new assets and opportunities
On the basis of a solid product foundation, Bitget Wallet is also worth mentioning in terms of strategic direction and play style.
Previously, Bitget Wallet COO gave a clear summary of Bitget Wallet’s focus in an interview with the media: around new assets and new opportunities.
From the birth of Bitcoin in 2008, to DeFi Summer in 2020, to the inscription craze in 2023 and this years Meme craze, the technology of the Crypto industry is iterating, the narrative is changing, and new assets and new gameplay are constantly emerging. However, if you peel off the gorgeous layers, you can find that the core of the current industry is still asset issuance and asset trading.
As competition in the Web3 wallet field becomes increasingly fierce, the Bitget Wallet teams approach around new assets and new opportunities can be said to be very practical and in line with the core demands of users.
As mentioned above, Bitget Wallets innovations in Swap transactions, such as smart market lists and smart money tools, are actually the implementation of strategic directions.
Previously, when ERC 404 was hot, Bitget Wallet was the first wallet to include and support tokens and NFTs of this protocol. When various types of Meme were hot, Bitget Wallet’s market concept list was quickly updated and included on many chains. Transaction users pay attention and use. With its significant advantages in the discovery and trading of memes and altcoins, Bitget Wallet has successfully attracted a large number of on-chain players.
In addition to the collection and trading of new tokens, almost all core functions of Bitget Wallet are designed around new assets and new opportunities, whether it is supporting the access and cooperation of new public chains, the launch of the Launchpad platform, and the inscription function online. How to enable users to find the latest assets on the market, discover and trade emerging and popular tokens earlier and more easily, and thereby earn more income in the Web3 world, is the focus of the development of Bitget Wallet.
Issuing coins and airdrops, locking the leading coins in the wallet track?
On March 18, Bitget Wallet announced the official launch of the official ecological token BWB and launched a points airdrop plan. For a wallet that has been developed for more than 5 years, it is somewhat restrained and conservative to issue coins now.
There have always been problems in the wallet track. Although it is an important infrastructure, the ceiling and valuation of the entire track are not high. Take Trust Wallet as an example, its token FDV is only about 1.3 billion US dollars. In the wallet track Ranked first, compared to DeFi infrastructure such as DEX and the popular Meme currency, the value of wallets has not been fully discovered.
However, in recent years, the situation has actually gradually changed. The wallet track has become more popular. The leading centralized exchanges are developing their own Web3 wallets, such as OKX and Binance. However, their strategies and directions are built-in In the exchange app, there is a high probability that coins will not be issued; other leading wallets such as MetaMask and Coinbase Wallet follow the compliance route and are also unlikely to issue coins.
Officials stated that as the Bitget Wallet platform currency, BWB will be an important asset and Web3 equity certificate for Bitget Wallet and even the entire Bitget Group decentralized ecosystem. Its imagination is also worth looking forward to.
Perhaps with BWB, Bitget Wallet will open the ceiling of the wallet track.
