January 19th, 2023 - Leading cryptocurrency derivatives exchange Bitget has achieved encouraging results despite a depressed market sentiment in 2022, not only increased the total trading volume by 300%, but also became the top 3 in the global derivatives space Cryptocurrency exchange, the market share has increased by 2.6 times.

2022 is the most difficult year for the encryption industry. Terra LUNA, Celsius and FTX collapsed, and the encryption market evaporated more than 2 trillion US dollars. Despite the difficult market, Bitget has achieved growth in all aspects; in the cryptocurrency market in the past year, Bitget has made great progress in team building, brand building and business development, making Bitget Exchange a contrarian growth, The dark horse that broke out.

Some of the company's key achievements include:

1. According to the Boston Consulting Group report, Bitget once climbed to the third place in the world in the field of cryptocurrency derivatives.

2. According to TokenInsight's latest report, Bitget's derivatives market share rose from 3% to 11%.

3. The total trading volume has increased by more than 300%, and documentary products are booming.

4. Increase the number of employees from less than 200 at the beginning of 2022 to more than 1,100.

5. Become Macy's only cryptocurrency exchange partner.

Driven by copy trading and contract trading, Bitget’s total trading volume has increased by more than 300%. As of December 2022, the platform's flagship product, one-click copy trading, has attracted more than 80,000 traders and more than 338,000 followers, with more than 42 million profitable transactions, leading the industry in the copy trading market leading position.

In the derivatives market, with the fall of FTX, Bitget achieved rapid growth and became the biggest winner. According to TokenInsight's latest report, Bitget's derivatives market share rose from 3% to 11%. As of the end of 2022, the total daily open interest of the top 10 exchanges was down 27.1% from January 1 of the same year, and about 41% lower than the peak daily open interest on April 5 of the same year. Among the many exchanges, only Bitget's open interest has achieved a substantial increase, from $841 million at the beginning of the year to $3.74 billion at the end of the year, an increase of 344%.

These impressive numbers come not only from Bitget's hard work in service improvement, but also from its global expansion and adoption of top-notch security and protection measures. Previously, the company concentrated on developing its business in a few Asian countries. After that, it will actively expand its international business. By the end of 2022, the exchange will have served more than 8 million users in more than 100 countries/regions, with footprints in Turkey, Southeast Asia, Latin America and Europe. Bitget protects users' assets on the platform through a series of security measures, including a $300 million protection fund, fund custody services, and the launch of Merkle Tree reserve certificates.

Gracy Chen, Managing Director of Bitget, said: "2022 is an important year in Bitget's development history. Our achievements in this year are encouraging. Despite some negative events in the industry, Bitget still maintains impressive growth, We will take this as an opportunity to further enhance our capabilities. The cooperation with Macy’s is also a constant reminder that the long-term development of an enterprise requires passion, perseverance and teamwork.”

"Macro liquidity will continue to affect the encryption market, and it is expected that the pace of interest rate rises will gradually slow down in 2023. The Fed's impact on macro liquidity will also affect investors' expectations for the encryption market. In addition, it is expected that the locked-up volume of DeFi in 2023 Will pick up slowly. Although the token value of most popular blockchain public chains has declined, the number of active users and the number of new wallet addresses on Polygon, Ethereum, BSC and other chains are still rising.”

"2023 will be a year full of opportunities and challenges. We will continue to focus on providing users with the best social trading and derivatives trading experience. We will also continue to expand our spot services and optimize the overall platform experience. As the industry The continuous integration and adjustment of the industry, the overall macroeconomic improvement, we will accelerate out of this encryption winter, and Bitget will work hard to lead and push the industry forward.”