Bitget’s latest transparency report revealed the crypto exchange processed a total of $2.08 trillion in trading volume, led by a sharp increase in spot trading of nearly 160%.
In a press release sent to crypto.news, the crypto exchange’s spot trading volume experienced a 159% rise compared to the previous quarter, reaching a total of $387 billion. The sharp increase in spot trading on the platform followed an increase in market participation amidst new listings and the introduction of emerging platform features.
According to the firm’s transparency report, the crypto exchange’s user base grew by 4.89 million users on its main CEX platform and 15 million users on Bitget Wallet in the first quarter of 2025 alone. Overall, the platform’s global user count surpassed 120 million users, indicating a 20% rise compared to Q4 2024. Users can access the full report on the platform’s official site.
On the other hand, the platform’s proof-of-reserves also exceeded the 130% threshold this quarter. Meanwhile, Bitget increased its protection fund by nearly $20 million, from $495 million in January to $514 million in March this year. This decision came after the crypto industry saw a record-breaking $2.1 billion in losses due to crypto hacks.
Price chart for the Bitget Token in the past hour of trading, April 14, 2025 | Source: crypto.news
You might also like: Bitget becomes the first crypto firm to sponsor a driver on Porsche Cup Brazil 2025
At press time, the Bitget Token (BGB) has dipped slightly by 2.48%. However, it has seen an increase of more than 10% in the past week and a 273% rise in the past year. BGB is currently trading hands at $4.27. BGB’s market cap stands at $5.1 billion with a 24-hour trading volume of over $100 million.
Bitget CEO, Gracy Chen, emphasized the importance of adapting to volatile market conditions and the ever-changing crypto landscape. She views the significant increase in users and trading volume as a reflection of the platform’s continued growth and paves the way for more innovation in the future.
“In the next quarter, we will continue to focus on institutional-grade infrastructure and double down on expanding its Web3 presence through our ecosystem,” said Chen, adding that compliance will also be a key focus as the platform aims to navigate global oversight efforts.
Most recently, Bitget burned more than 30 million BGB under its recently updated burn mechanism in the first quarterly burn of 2025. The new burn mechanism bases the amount of tokens burnt based on on-chain utility.
Read more: Bitget plans to burn $120 million worth of BGB under new quarterly mechanism
