In mid-June, Bitcoin experienced significant volatility, dropping below $67,000 due to supply pressures and market adjustments. Despite the downturn, Bitcoin managed to stabilize around $65,000 over the weekend, while Ethereum recovered to $3,500. CoinGlass data revealed a decline in Bitcoin futures open interest, which still stayed above $35 billion.
Amid the market’s instability, Bitget, a leading cryptocurrency exchange, reported an increase in metrics for May. The exchange saw a 39.2% spike in open interest, reaching $9.74 billion, the highest among centralized exchanges, as per CCData.
Notably, Bitget attracted $975.4 million in capital inflows, marking significant industry leadership, according to DeFiLlama. The report published by Bitget names among the factors contributing to this resilience is a strong focus on new token listings and new offerings. Over the past month, the platform listed 62 new tokens, including high performers like $TURBO and $WOJAK, and saw over 120,000 participants staking 427 million USDT on its PoolX platform.
Year-to-date, Bitget has outperformed in the spot markets, achieving the largest gains among exchanges, as reported by Cointelegraph in May. Its market share increased by 2.01%, reaching 38%, surpassing Binance’s 33.8%. In April alone, Bitget’s share in derivatives volume of $4.5 trillion reached $652 billion, highlighting its significant impact and leadership in the market.
Meanwhile, decentralized exchange Uniswap experienced a significant increase in open interest of 64.25%, indicating strong trader and analyst interest.
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