Strong market recovery in February, especially with Bitcoin's record high, helped Bitget's trading volumes grow significantly in the first three months of the year. The exchange, based in Seychelles, reported a 146% increase in futures trading volume, reaching $1.4 trillion. Spot trading volume also saw a surge of 113%, exceeding $160 billion.

Bitget experienced substantial growth in its user base and trading volumes in the first quarter of 2024, capitalizing on the overall market resurgence. In March, the platform saw a 2.4% increase in derivatives market share, making it the third-largest derivatives trading platform by volume. This marked the first time since December that Bitget had achieved this ranking.

According to Bitget's Q1 2024 Transparency Report, the exchange now has over 25 million users globally. The platform's native token, BGB, had a successful quarter, surpassing 1 in February, with a market capitalization of $1.5 billion. BGB has seen a 434% increase since the beginning of 2023, outperforming BTC and becoming a standout performer in the CEX token market.

Bitget's Managing Director, Gracy Chen, emphasized the platform's commitment to enhancing its spot market offerings this year. The exchange aims to strengthen its market position and support promising startups to contribute significantly to the broader crypto ecosystem.

Over the quarter, Bitget listed 186 new tokens, with Solana meme coin Dogwifhat (WIF) and rollup utility token Altlayer (ALT) standing out by gaining over 1,000%. Earlier in the year, Bitget announced an expansion of its team, increasing from 1,100 employees to 1,500.