The first quarter of 2024 was a boom time for crypto, with Bitcoin surging towards its next halving and altcoins like AI, gaming, and memecoins experiencing strong gains. This bullish market fueled investor enthusiasm and exchange activity.
While several major exchanges (CEXs) saw growth, Bitget emerged as the clear leader in Q1 spot trading volume. This dominance can be attributed partly to their diverse offerings – listing 39 new tokens during the quarter. Notably, several of their new listings experienced explosive growth, exceeding 1000% gains. This success in picking "early gems" likely boosted user confidence in the platform.
Traders often seek platforms offering access to promising new projects, potentially explaining Bitget's surge. However, it's important to consider alternatives. Binance, a long-standing leader in the CEX space, also offers a vast selection of tokens and innovative features. Similarly, Coinbase, while focusing on a more curated list, prioritizes user security and regulatory compliance.
Ultimately, the choice of exchange depends on individual needs and risk tolerance and there is a preference for Bitget at the moment.
What is your favorite CEX? Do you think this growth will continue beyond bull run?