Crypto Exchange Bitget Reports 39.2% Surge in OI, Highest Capital Inflows in May
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In contrast with the declining metrics of competitive services, Bitget crypto exchange expands its array of accomplishments in Q2 2024. In May, it registered a notable OI, capital inflows surge.
Crypto exchange Bitget witnesses significant OI, capital inflow spikes
According to CCData's report, centralized exchanges experienced a decline in combined spot and derivatives of 20.1% to $5.27 trillion in May, despite a 30.5% surge in open interest on derivatives exchanges to $55.2 billion.
This could be attributed to factors such as shifts in investors’ focus from short-term trading to longer-term positioning in anticipation of significant events like BTC Halving and heightened market expectations for future price movements.
Consequently, in times like these exchanges with robust derivatives offerings become strategic choices for these investors.
Bitget, known for its well-established position as a top derivatives exchange, has experienced a 39.2% increase in open interest, reaching $9.74 billion during the same period — a whopping 8.7% more than the average growth rate of other derivatives exchanges. The data has been revealed in the company’s today’s report.
Bitget ecosystem welcomes new CEO Gracy Chen
May also marked another significant milestone, making it a centralized exchange with the highest one-month inflows of $975.4 million according to the on-chain data from DeFiLlama.
The surge in metrics follows the recent appointment of Gracy Chen as the new CEO. The exchange has also significantly expanded its asset selection by listing 62 new tokens in May, as well as 19 new tokens to its PoolX, attracting 120,381 and a whopping 427 million USDT in staking.
Arman ShirinyanEarlier this month, Bitget added USDe by Ethena Labs as an option for USDS-margined futures contracts, U.Today reported previously.
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