Singapore, July 22, 2022 — The leading global derivatives exchange Bitget is pleased to release a joint report with Boston Consulting Group (BCG) and Foresight Ventures. Bitget’s first in-depth industrial report, What Does the Future Hold for Crypto Exchanges, dives into the competitive landscape of crypto exchanges, unveils substantial development trends in crypto trading markets, explains their role in enabling the Web3 economy and shares insights on how to navigate the crypto space during a bear market.
This report offers an intensive study on the developing environment for crypto exchanges from different lenses, such as a thriving derivatives market, momentums of rapid trading volume growth, regulation impacts and innovative applications. The report also brings a forward-looking view on the end-state competitive landscape as well as perspectives on growth avenues for crypto exchanges.
Commenting on the report, managing director of Bitget Gracy Chen said, “This report shines light on the recent developments of the crypto market, with keen insights revolving around crypto exchanges and the future paths of winning operations. We continue to witness tremendous enthusiasm from investors despite such market conditions. According to the findings of the report, crypto trading volume still has large headroom to grow, while [Latin America] and [Asia-Pacific] remain the two most attractive regions for global players to expand into due to higher market potential and progressive crypto regulations. This is the same view echoing our developing strategy, as these two regions are among those of our primary focus. Meanwhile, we will continue to enhance our products with creativity and innovation [and] boost adoption of crypto trading and social trading with the vision to increase financial independence for the rest of the world.”
Managing director and senior partner of BCG Tjun Tang said, “Despite the recent market disruption, we believe the market has opportunities for growth ahead. Crypto exchanges play a key role in the Web3 ecosystem by providing access, liquidity and infrastructure. With competition intensifying, crypto exchanges must adapt to the dynamic market situation and transform their strategy to beat the competition. In this report, we offer perspectives on the future of Web3 adoption, emerging high potential markets and the crypto exchange competitive landscape and future end-state. We highlight unique growth opportunities that crypto exchanges can explore: strengthening and scaling core offerings, expanding into adjacent products and offerings, developing innovative business models and leading the way in bringing Web3 solutions to traditional industries.”
For more information on the report, please refer to the executive summary below or view the full report here.
Established in 2018, Bitget is one of the world’s leading cryptocurrency exchanges with a core focus on social trading. Currently serving over two million users in more than 50 countries around the world, Bitget accelerated its mission to promote decentralized finance with a 600-strong workforce representing over 38 nationalities.
Since Bitget’s official launch in the crypto derivatives market in June 2019, the platform has now become one of the world’s largest crypto copy trading and derivatives exchanges and is ranked in the top five globally by CoinMarketCap and CoinGecko for derivatives trading by volume. The leading exchange focuses on transforming the way people connect and trade with social trading. Its flagship offering, One-Click Copy Trade, is nothing short of a pioneer in social trading and has amassed over 55,000 professional traders with approximately 1.1 million followers, innovating the experience for crypto derivatives traders worldwide with over 20,000 active traders and generating close to $100 billion in transaction value in 2021.
Adhering closely to its philosophy of “Better trading, better life,” Bitget is committed to providing comprehensive and secure trading solutions to users globally, aiming to be the portal that transcends Web2 and Web3 and connects centralized and decentralized finance, resulting in an expansive bridge to the vast web of crypto. In September 2021, Bitget announced its sponsorship of world-renowned football team Juventus as its first-ever sleeve partner and PGL Major’s official esports crypto partner soon after. Partnerships with the leading esports organization Team Spirit and Turkey’s leading and long-standing football club Galatasaray were also announced in early 2022.
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