According to the report, Bitget increased its website traffic by 50% in the second quarter compared to the previous quarter. This increase means that the platform increased the number of monthly visitors to 10 million. The exchange, which also experienced a significant expansion in its user base, gained 2.9 million new users during this period. A 10% increase in spot trading volume was also observed, indicating that the trading activities of the platform are becoming increasingly active.

Bitget’s good news doesn’t end there. The company also announced in its report that there was a significant increase in funds. The increase in assets in three main cryptocurrencies, Bitcoin (BTC), Tether (USDT) and Ether (ETH), is remarkable. The report states that these assets increased by at least 70%. These rates are announced as 73% for BTC, 80% for USDT and 153% for ETH, respectively. Bitget emphasizes that this increase is equivalent to a fund inflow of approximately $700 million.

Bitget took an interesting step within the scope of its global expansion strategy. The company signed a sponsorship agreement with three national athletes from Turkey in the second quarter of 2024. This sponsorship agreement made with wrestler Buse Tosun Çavuşoğlu, boxer Samet Gümüş and volleyball player İlkin Aydın is considered as a part of the previously launched campaign with football legend Lionel Messi.

Bitget CEO Gracy Chen emphasized the importance of the community’s support in the growth of the company and said, “The second quarter of 2024 has been an important period for Bitget. Our cooperation with Turkish athletes and the significant increase in the number of users and website traffic are part of our global expansion.”

Bitget doesn’t just focus on increasing the number of users and transaction volume. The company aims to contribute to the development of the sector by investing in the future of the Web3 ecosystem. In this context, Bitget, together with Singapore-based investment company Foresight Ventures, launched a $20 million ecosystem fund aiming to support early stage projects on The Open Network (TON). This initiative aims to accelerate the development of the TON ecosystem.

Bitget also gives due importance to security. The company said its proof of reserves (PoR) report showed ratios above 100% for all major assets. This means that the company has sufficient cryptocurrency reserves to cover all user funds. Additionally, Bitget announced that the value of the protection fund it created to protect user funds is over $420 million.

Finally, Bitget has partnered with Know Your Identity (KYC) verification provider Sumsub to combat scammers trying to complete the KYC (Know Your Identity) verification process. This move can be considered as a precaution against the increasing deepfake attacks.

The data included in the report provided by Bitget shows that the company is rapidly progressing towards becoming an important player in the cryptocurrency exchange industry. But will it be able to maintain its growth momentum? In the coming period, market conditions and users’ experiences about the platform will be among the factors that will shape Bitget’s future.