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Bitget Hot Takes (April 08 - April 14, 2024) - All About Bitget

Intermediate

2024-04-15 | 10m

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, which sums up BGB performance, what's new at Bitget, and the latest market movements.

The latest Bitget Hot Takes can be found here: All About Bitget | Market Updates

Central Themes

• BGB made another new ATH at US$1.380367.

• Bitget Markets: spot volume went up, both average OI and Bitcoin OI continued to decline, leading to 58% Bitcoin dominance on Bitget futures markets.

BGB ATH Slightly Went Up

Around the same time Bitcoin bounced back to US$72K, BGB also quietly climbed up, reaching a new ATH at US$1.380367. This is up by 0.013% from its most recent ATH, which was achieved the week before at US$1.380194. However, almost all crypto suffered from external factors towards the end of the week, including the still-hot U.S. CPI released on April 10, Tech stocks' dip, Bitcoin ETFs' outflow, and the growing Middle East tensions.

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This is already the 6th time that BGB managed to break its own record in 2024 alone - the previous times include US$0.73 on February 14, US$0.90 on February 15, US$1.02 on February 16, US$1.15 on February 17, 2024 and US$1.380194 on April 03. It definitely goes hand in hand with the expansion of Bitget; after all, we are the crypto exchange with the most incredible growth even amid the most recent bear market.

BGB's 7D volume, although still high, saw some declines to US$475 million, thus driving liquidity down by 14%. At current levels, BGB, regarding the volume-to-market cap ratio, is as liquid as Ethereum, and way more liquid (around 2x times) than Bitcoin and BNB.

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Want to learn more about BGB? Check out our BGB White Paper and BGB Intro and don't miss any new issues of Bitget Hot Takes, which always covers the latest analysis of BGB weekly performance!

The Latest Bitget News

We're delighted to bring you the new Bitget PoolX - our pioneering stake-to-mine platform that distributes rewards on an hourly basis, which means better opportunities for token holders to ride the waves!

Then goes the pioneering Bitget Pre-Market, an exceptional platform that permits early trading of new cryptocurrencies before their official listing. This avant-garde over-the-counter (OTC) marketplace empowers investors to engage in direct transactions, setting their own prices and quantities. By facilitating peer-to-peer exchanges, Bitget Pre-Market not only accelerates early adoption but also enhances price discovery. Whether you're looking to buy or sell, this platform ensures a fluid, secure trading experience with pre-frozen funds to guarantee transaction integrity. Step into the forefront of cryptocurrency trends and capitalise on emerging opportunities with unparalleled access through Bitget Pre-Market. Learn more about Bitget Pre-Market here: Introducing Bitget Pre-Market: Your Gateway to Early Coin Trading

What else is in store for the bulls? Zero-fee for all Bitcoin and Ethereum spot transactions ahead of Bitcoin halving and (possibly) the approval of a spot Ether ETF in the U.S. until May 20 and a Visa Card that allows its holders to pay for their real-world purchases with crypto !

As Bitcoin failed to hold the stem, liquidations got into action across the majority of Bitget futures markets. Bitcoin's average dominance returned to near-60% levels, despite the decrease of the average number of open Bitcoin positions.

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It's nice to see one of the OG Bitget Initial Listings not only brought in significant gains for investors, but also made it to our Top Daily Gainers - that's OVL3 , the project that went live on December 20, 2023. We invite you to check out the following guides on the latest crypto trends, which you'll see on the list:

Saga (SAGA): Blockchain Development for the Masses

Tensor (TNSR): Unlocking the Future of NFT Commerce

ChatAi (CHATAI): The Web3 Platform for AI-Powered Social Interaction

Masa Protocol (MASA): Unleashing The Future Of Identity

Dappad (APPA): Simplifying Blockchain Investments with Account Abstraction Technology

Cat in a Dog's World (MEW): Treading Into The Heart Of Doge-Dominated Territory

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