Open interest surged 39.2% in May hitting $9.7B
Bitget, the world’s leading cryptocurrency exchange and Web3 company, has navigated May with resilience, maintaining its position as a top derivative exchange with the highest capital inflow amongst centralised exchanges and sustained open interest growth.
According to CCData’s report, During the wake of the Bitcoin Halving and BTC ETF events, the combined spot and derivatives trading volume on centralised exchanges declined by 20.1% to $5.27 trillion in May. However, open interest on derivatives exchanges surged by 30.5% to $55.2 billion. Against this backdrop, Bitget experienced a remarkable 39.2% increase in open interest, reaching $9.74 billion, solidifying its standing as a leading derivative exchange.
Concurrently, Bitget recorded the highest one-month inflows among all centralised exchanges in May, with $975.4 million in capital flowing into the platform according to on-chain data from DeFiLlama. This substantial influx of capital firmly establishes Bitget as an industry leader.
In May, Bitget significantly expanded its asset selection by listing 62 new tokens, driving notable interest and increased trading volumes. Among the top-performing additions, $TURBO, $MNTC, $CEL, $LIFEFORM, and $WOJAK saw impressive gains ranging from 260% to 1430%, demonstrating Bitget’s proactive approach to meet evolving market demands and highlighting the substantial potential for lucrative returns within its ecosystem.
In addition, Bitget listed 19 new tokens on PoolX , attracting 120,381 participants to stake a total of 427 million USDT throughout May. PoolX listed 21 tokens in total, with standout gains from UDS (86%) and DOGEMOB (26%), along with significant market cap increases for ATS (46%) and APRS (17%). The average annual percentage rate (APR) of 10%-45% further contributes to the product’s growing demand and success.
The month was also punctuated by pivotal developments at Bitget, including the appointment of Gracy Chen as the new CEO, the launch of the BWB token, a Signal Bot to revolutionise crypto trading insights dissemination on Telegram, the rollout of the Elite Trader campaign, and global celebrations of Pizza Day.
