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Bitget Hot Takes (February 26 - March 03, 2024) - All About Bitget
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
• Indicators suggest that BGB should be bouncing back soon, especially with Bitcoin paving the way.
• Bitcoin soared to near US$64K and Ethereum to US$3.5K.
• Bitget Markets: average crypto OI, Bitcoin OI and spot volume all went up.
BGB Should Be Bouncing Back Soon
In the recent in-depth analysis of all BGB ATH records, we talked about how BGB has the capability to break away from BTC movements for decent gains but still tends to move in the same direction with the largest crypto. Since BTC is shooting up above US$60K for the first time since November 2021, BGB will most likely follow suit, especially with the RSI tiptoeing around the oversold levels. At US$0.91, BGB still demonstrates a gain of 57% from this year's opening price.
The weekly volume of BGB went up slightly by 1.5% to US$191.7 million, thereby bringing up liquidity as well. There's quite a gap between BGB and Bitcoin (as well as others in the Top 5), but following our analysis above, both prices and liquidity of BGB will catch up with those of Bitcoin soon.
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
Dragon Year for up-in-the-sky movements? Well yeah, BGB definitely took initiative since the first day of 2024 and eventually breached US$1 this month. We're also proud to invite all users to apply for and try out the brand new Bitget Card! This is the perfect off-ramp solution for any crypto advocates out there, not just Bitget lovers - we'd love to see crypto embraced in our everyday life in the most practical way. Check out the Bitget Card Introduction to know why you've got to own this powerful card!
As the leader in the copy trading sector, Bitget constantly provides new features and upgrades to better serve our community of 130,000+ elite traders and their 650,000+ followers. The latest update is for iOS device owners who trade futures, please update the app to version 2.25.0 to enjoy a smoother, faster, better experience! Another one is the introduction of Diverse Follow Mode, which allows users to follow as many elite traders as they want using the same fund pool to diversify their investments as well as minimise risks!
Bitget continued to see an increase in activities across markets thanks to a whole new period of Extreme Greed. Spot volume jumped from US$4.5 billion to US$6.8 billion, the average crypto OI rose from US$7 billion to US$8.2 billion, but the number of BTC contracts receded slightly to 44.7% of the total OI. Also contributing to the faster expansion of Bitget spot markets is the return of memecoins, which is reflected in the list of daily top gainers discussed below.
The biggest daily gainers of the week can all be found on Bitget CandyBomb , our unique task-and-airdrop platform where users can get hot and trendy tokens FOR FREE by just completing some easy-peasy tasks! Don't forget to learn about these projects and the reasons why they're trending:
QnA3 AI ($GPT): Your Gateway to Web3 Knowledge and Smart Investing
Portal (PORTAL): Integrating Gaming Experience Across Chains And Platforms
SORA AI (SORA): Revolutionising Video Production With The Power Of Blockchain And AI
Ice Network (ICE): Decentralizing Governance, Storage, and Connectivity for All
Among those with a 24H increase of 100%, the number of memecoins already accounts for 3 out of 7 or nearly 50%: HMTT/USDT, XRP8/USDT, and SORA/USDT. Over the last seven days, we have also witnessed other memecoins, especially those Doggo ones, making their way into the Top 3 Daily Gainers on Bitget, such as SUNDAE/USDT (59.8%), PEEPO/USDT (+61.8%), TURBO/USDT (+65.2%), FLOKI/USDT (+59.6%), and ZKPEPE/USDT (+45.4%).
New users should definitely check out the great Bitget Reward Center for 5,027 USDT in welcome bonus and learn about minimising costs for efficient crypto investments! Bitget offers 0-fee crypto purchases on Wednesday and the weekend for those who own Credit/Debit cards! It's not just limited to newbies, experts can deliberately join, too! The tokens exclusively added to our Zero-Fee Program are ASTRO, IQ , BBL, $GPT, and PORTAL - all the familiar names you just see on the Top Daily Gainers summary!
Looking for extra earning options on Bitget? Check this out:
• Bitget Savings : New tokens can be added to our savings vaults within days after the listing with up to 100% APR for a limited time! The newly added options are HTX with up to 60% APR, AINN , PIXEL , VMINT , BBL , $GPT , and PORTAL with up to 50% APR, ASTO with up to 40% APR and TUSD with up to 15% APR!
• Bitget Launchpool : Similar to Bitget Savings, but it’s for BGB owners to put their holdings to work! Exclusive pools for new users as well!
• Bitget Snowball and Bitget Smart Trend : New subscription period begins every Monday!
• Weekly exclusive earning opportunities: Up to 10% APR on Bitget Wealthy Tuesday
• Bitget CandyBomb: Complete given tasks to receive ETH , BBL , $GPT , PORTAL FOR FREE!
All Bitget Earn guides are available here: Bitget Range Sniper | Bitget Shark Fin | Bitget Dual Investment | Bitget Smart Trend | Bitget Snowball | Bitget Wealth Management
New Events
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Trending coin promotion — Grab a share of 50,000 BGB in the Meme Zone
Follow and Engage, Share Unlimited Prizes!
St Patrick’s Day – Luck of the Irish Prize Wheel
Try out futures copy trading 2.0 and grab generous copy trading position vouchers!
Deposit PMPY to grab a share of 400,000 PMPY!
Deposit to List: Ness LAB (NESS) - Deposit and Share 30,000 NESS Rewards!
Deposit to List: REACH (REACH) - Deposit and Share 100,000 REACH Rewards!
Deposit to List: Flappymoonbird (FMB) - Deposit and Share 300,000 FMB Rewards!
Complete spot trading, futures trading, net deposit, and referral tasks on CandyBomb to earn BBL!
Join the Bitget x QnA3.AI Community Campaign Now to Claim Your Special $2,000 GPT Rewards!
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Join the Bitget x Portal Community Campaign Now to Claim Your Special $2,000 PORTAL Rewards!
Complete net deposit and spot trading tasks on CandyBomb to earn PORTAL!
Good Reads
How Ethereum's Dencun Upgrade Will Affect the Crypto Market
Is Pi Network (PI) a Scam? Unveiling the Truth Behind This Digital Currency
Worldcoin (WLD) Surges to $9 in Just a Week as OpenAI Launched Sora
Bitcoin Layer 2 Explained: Unlocking the Future of Cryptocurrency Transactions
Bitcoin Layer 2: Unlocking Scalability and Functionality On the Bitcoin Blockchain
Simply create an account , and start exploring the incredible Bitget-Verse today!
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