Bitget May Transparency Report: New CEO Takes the Helm, Record High Inflow of Funds

In the aftermath of the Bitcoin halving and the Bitcoin ETF event, the cryptocurrency market entered a period of adjustment in May.

Introduction

In the aftermath of the Bitcoin halving and the Bitcoin ETF event, the cryptocurrency market entered a period of adjustment in May. Bitget demonstrated resilience during this period, with several important initiatives in May, including the appointment of a new CEO, the launch of the BWB token, the initiation of the Elite Trader Program, and the global celebration of Bitcoin Pizza Day. Additionally, Bitget performed well in key indicators such as fund inflows, open interest data, and website traffic.

Bitget Data Overview

According to CCData's report, although the total spot and derivative trading volume of centralized exchanges decreased by 20.1% to $5.27 trillion in May, the open interest of derivative exchanges increased by 30.5% to reach $552 billion. As one of the three major derivative exchanges, Bitget saw a 39.2% increase in open interest, reaching $9.74 billion.

Data Source: CCData

Capital Inflows and Website Traffic

According to DeFiLlama's on-chain data, Bitget ranked first in monthly inflows among all centralized exchanges, with $9.754 billion flowing into the platform.

Data Source: DeFiLlama

Furthermore, Bitget's website traffic significantly increased by 47% in May, with a surge of 10 million monthly visits, indicating the platform's growing popularity globally.

Data Source: Wu Blockchain

Highlights of the Month

Bitget Appoints Gracy Chen as CEO

Bitget appointed Gracy Chen as the new CEO, succeeding Sandra Lou, effective from May 2024. With over 10 years of business management, marketing, and investment experience, Gracy has been instrumental in leading Bitget's global expansion and quadrupling its user base through strategic partnerships and a strong alliance network since joining Bitget as General Manager in June 2022. She played a key role in helping Bitget become one of the top five cryptocurrency exchanges. Gracy also advocates for diversity in the crypto space and initiated two projects, #Blockchain4Youth and #Blockchain4Her, to promote the adoption of Web 3 and gender inclusivity. For more information about Gracy's journey and her future plans at Bitget, please refer to: Bitget CEO Open Letter.

Launch of Elite Trader Program with Five Cryptocurrency Industry Influencers

In May, Bitget launched the Elite Trader Program, aimed at empowering traders through innovative features. With the support of five cryptocurrency influencers, Long, Annii, Matthew, Brain Bro Crypto, and David Justin Academy, the program highlighted Bitget's unique features such as copy trading, staking, analytical tools, and trading bots.

Celebration of the One-Year Anniversary of Blockchain4Youth

Bitget released a retrospective video of the Blockchain4Youth project to celebrate its first anniversary. In its first year, Blockchain4Youth attracted over 6,000 participants through 54 global campus lectures and seminars, and issued over 2,000 certificates. The project collaborated with renowned influencers and over 51 universities, including University College London and the National Technological University of Argentina. Launched in May 2023 with a commitment of $10 million, the project aims to drive the adoption of Web 3.0 among millennials and Gen Z. Bitget plans to expand the Blockchain4Youth project by offering more scholarships and online courses.

Listings

In May, Bitget added 62 new tokens, providing users with more trading options. The top five tokens included $TURBO, $MNTC, $CEL, $LIFEFORM, and $WOJAK, with price increases ranging from 260% to 1430%.

Additionally, Bitget added 19 tokens on its PoolX platform, attracting 120,381 participants, with a total staking volume of $427 million in May. The APR for UDS reached 86%, and for DOGEMOB, it reached 26%. The average yield of 10%-45% APR further drove demand for this product.

Innovative Features

Telegram Signal Bot

Bitget cryptocurrency exchange launched a Telegram Signal Bot. This bot enables group owners to easily share trading signals with followers, enhancing group quality and engagement through one-click signal sharing and group management features. The beta testing period is from May 27, 2024, to June 27, 2024, during which Bitget will collect valid feedback and reward participants accordingly. This bot will empower more cryptocurrency enthusiasts and promote ecosystem growth.

2024 King's Cup Global Futures Trading Competition

Bitget KCGI Championship has attracted over 51,000 participants globally since its inception. In addition to the USDT prize pool, this edition of the KCGI Championship will also offer a Ferrari 296, Rolex watches, and Messi series peripherals. As of June 10th, a total of 1,810 teams and 114,831 participants have applied to compete, unlocking a prize pool of 3,000,000 USDT. The total prize pool for this edition of KCGI is 5,000,000 USDT, which will continue to increase as the number of participants grows.

Bitget Wallet

Bitget Wallet Unveils Bitget Onchain Layer, Rolls Out $10M BWB Ecosystem Fund

Bitget Wallet has released its latest roadmap and BWB token economy, unveiling the Bitget Onchain Layer. This on-chain layer serves as an intermediary layer to help users better interact with the complex Web3 world and is also the on-chain extension and decentralized future of the entire Bitget ecosystem. By collaborating with industry developers to create MFD (Modular Feature-Dapp) and combining it with its native features, Bitget aims to reshape user interaction with the Web3 world in terms of functionality, user experience, security, and more. Through synergy with Bitget's ecosystem resources, it aims to form complementary advantages of Onchain + Offchain and promote joint development. Additionally, a $10 million BWB ecosystem fund has been established to invest in and incubate on-chain trading and meme-related products and assets.

BWB

BWB is the official ecological token of Bitget Wallet and also the system token of Bitget Onchain Layer. It plays multiple roles in the ecosystem, including community governance, staking, participation in Bitget Wallet Launchpad and various airdrop activities, as well as eligibility for Bitget platform activities. It also provides eligibility for airdrops of Bitget Onchain Layer ecological projects and for multiple chain gas fee payments after the launch of the AA wallet.

Bitget Wallet Secures Top Position on CertiK's Crypto Wallet Security Leaderboard

In May, Bitget Wallet secured the top position on CertiK's security wallet leaderboard, surpassing Trust Wallet and MetaMask. The leaderboard ranks the security status of various Web3 wallets by analyzing on-chain and off-chain data. Bitget Wallet has established a systematic security system, employing multiple security detection mechanisms to ensure the security of every transaction or interaction scenario. It has introduced MPC wallet and AA wallet technology, supports hardware wallet connections, and has completed audits of core codes such as Swap, cross-chain bridges, and NFT market protocols. Additionally, it shares a $400 million risk protection fund with Bitget, strengthening its risk resistance capabilities.

Bitget Global Events

Bitcoin Pizza Day Celebration

In May, Bitget hosted over 20 offline pizza day events globally, including in Brisbane, Buenos Aires, Sao Paulo, and other locations, celebrating this iconic crypto holiday with nearly 3000 Bitcoin enthusiasts from five continents. For more information, click here.