Bitget has released its Q2 2024 Transparency Report, which showed an increase in inflows to the exchange and a 50% increase in traffic to the platform’s website.

Data from Bitget’s Proof-of-Reserve (PoR) page shows that in the first 6 months of users’ accounts holdings of BTC, USDT, and ETH grew by 73%, 80%, and 153%, respectively, with capital inflows of approximately $700 million. According to report2.9 million new users joined the platform. Spot trading volume on Bitget increased by more than 10%, from $28 billion in Q1 to $32 billion in Q2.

Bitget has launched new products for the initial listing of tokens: PoolX and Premarket. PoolX is a new staking platform that allows you to earn tokens by staking BGB and USDT. The premarket allows you to trade tokens that have not yet been officially listed on major exchanges. In total, more than 100 projects were launched, which provided more promising offers and attracted significant user participation.

In June, the exchange’s native token BGB recorded strong growth as the best-performing centralized exchange (CEX) token. BGB also recently entered Forbes’ top 10 cryptocurrencies. CCData’s latest H2 analysis report predicts that Bitget will have the largest market share growth among CEXs, reaching 38.4% from H2 2023 to H1 2024, while most other crypto exchanges will see slight declines.

A major highlight of the quarter was the partnership with three Turkish national athletes: Buse Tosun Cavusoglu (wrestling), Samet Gümüş (boxing) and Ilkin Aydın (volleyball) as part of Lionel Messi’s #MakeItCount campaign. The athletes motivated the audience to reach new heights and make a lasting impact. This move was also part of Bitget’s expansion in Turkey.

In collaboration with Foresight Ventures, Bitget also launched a $20 million TON Ecosystem Fund to support early-stage projects based on The Open Network (TON). The initiative was designed to accelerate innovation and development in the TON ecosystem, which is in line with the broader goal of driving mass adoption of cryptocurrency.

“Q2 2024 is a pivotal period for Bitget. Our partnership with Turkish athletes, along with significant growth in users and website traffic, is part of our global expansion. We appreciate the support of our community and will continue to build the future of Web3,” said Gracie Chen, CEO of Bitget.

The exchange continues to publish evidence of reserves, with the latest report noting that reserve ratios are well above 100% for all major assets. Additionally, the Bitget Protection Fund, currently valued at around $420 million, is one of the largest in the industry and provides an additional layer of security for users.

In addition, Bitget Research has published a report stating that deepfake crypto crimes could account for 70% of all crypto crimes, and is planning an anti-fraud campaign in Vietnam. Bitget has also partnered with Sumsub to provide a more serious level of protection for its 25 million users.

Looking ahead to Q3 2024, Bitget remains focused on improving its ecosystem, delivering value to its users, and supporting the broader growth of the crypto industry. With continued innovation, strategic partnerships, and robust security levels, Bitget closed out its latest quarter with further positive results.