Crypto exchange Bitget’s native token BGB is outrunning most of the markets as it prints a new all-time high after parabolic rallies.
According to Bitget’s managing director, Gracy Chen, the exchange has hit a number of new milestones in the last several months.
Addressing BGB’s big run-up, Chen says that Bitget has been innovating all through the bear market, helping set itself apart from competitors.
She references Bitget’s new proof-of-reserve report, which cites a January 31 snapshot that purports a 227% reserve ratio on the exchange’s assets. After the collapse of FTX, which saw billions of dollars in customer funds vanish and the arrest of its CEO Sam Bankman-Fried, crypto exchanges saw increased scrutiny regarding their reserve systems.
Chen also cites a Boston Consulting report that says BItget’s market share of derivatives trading went from 3% to 11% and saw a 300% increase in volume.
Source: Gracy Chen/Twitter
According to Chen, Bitget is also the first crypto exc
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