Bitcoin (BTC) deposits have surged to unprecedented levels, surpassing $2 billion daily since mid-January.

According to data compiled by the analytical firm Glassnode in February 2024, total deposits have soared to a record-breaking $2.46 billion. Bitget, a major cryptocurrency exchange, has seen a notable user surge, with more than 25 million signing up on Mar. 7.

At the same time, BGB, the exchange’s own token, posed a prominent increase, surging by 64% to hit its all-time high price of $1.15. This increase in Bitcoin deposits comes at the same time that Bitcoin’s price has gone through the roof, reaching an all-time high of $68,000. Notably, crypto exchanges have seen significant inflow and outflow. 

BGB serves as a utility token within the Bitget ecosystem, offering traders discounts on transaction fees and access to exclusive privileges. Additionally, Gracy Chen, Managing Director of Bitget, said:

We are thrilled to witness Bitget’s unprecedented growth of surpassing 25 million users, a clear testament to the trust and confidence the global crypto community places in us. This milestone, coupled with our strategic expansions and innovations underscores our commitment to providing the most dynamic and secure trading environment for our users. As we celebrate this achievement, we remain focused on paving new paths in the crypto and Web3 spaces, driven by our unwavering dedication to market leadership and service excellence. The future looks incredibly bright, and we’re just getting started.

Bitget’s New Tokens and Market Performance

Bitget added 39 new tokens in February to enhance trading opportunities. The crypto exchange has a track record of disclosing market performance for its early listed tokens, many of which have experienced triple-digit growth.

Bitget Token BGB recorded a 7.55% increase. Presently, it is trading at $0.9875, rebounding from $1.05 on the same day.

BGBUSD 1-Day Chart

Disclaimer

This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.