The latest transparency report from a prominent crypto exchange revealed that it processed a staggering $2.08 trillion in trading volume, driven by a remarkable 160% surge in spot trading.
In a press announcement, it was highlighted that the exchange’s spot trading volume soared by 159% from the previous quarter, totaling $387 billion. This sharp rise in spot trading activity coincided with a boost in market engagement, spurred by new listings and the launch of innovative platform features.
The transparency report indicated that the exchange’s user base expanded by 4.89 million users on its primary CEX platform and 15 million users on its wallet service during the first quarter of 2025 alone. In total, the platform’s global user count exceeded 120 million, marking a 20% increase compared to Q4 2024. Users can view the complete report on the platform’s official website.
Furthermore, the platform’s proof-of-reserves surpassed the 130% mark this quarter. In addition, the exchange augmented its protection fund by nearly $20 million, raising it from $495 million in January to $514 million in March. This decision followed a period during which the crypto sector faced unprecedented losses of $2.1 billion attributed to hacks.
At the time of reporting, the Bitget Token (BGB) had slightly decreased by 2.48%. However, it recorded an increase of over 10% in the last week and a remarkable 273% rise over the past year. BGB is currently trading at $4.27, with a market cap of $5.1 billion and a 24-hour trading volume exceeding $100 million.
The CEO of the exchange, Gracy Chen, underscored the necessity of adapting to the fluctuating market environment and the dynamic nature of cryptocurrency. She indicated that the notable rise in users and trading volume signifies the platform’s sustained growth and sets the stage for future innovations.
“In the upcoming quarter, we will maintain our focus on institutional-grade infrastructure and greatly enhance our Web3 presence through our ecosystem,” Chen stated, adding that compliance will also be a significant focus as the platform aims to navigate global regulatory efforts.
Recently, the exchange burned over 30 million BGB in the first quarterly burn of 2025 under its newly updated burn mechanism, which adjusts the amount of tokens burned based on on-chain utility.