Winter (WINTER) news

What Is the Bitcoin Rainbow Chart and How to Use It?

Have you ever wished there was a simpler way to understand Bitcoin's volatile market movements? Imagine being able to quickly determine whether it's the right time to buy, sell, or hold Bitcoin, just by glancing at a colorful chart. Well, that's precisely what the Bitcoin Rainbow Chart offers investors, whether you're brand new to cryptocurrency or an experienced trader. In this article, we'll explore exactly what the Bitcoin Rainbow Chart is, delve into how to interpret its color-coded bands effectively, address common misunderstandings, and provide practical advice to help you make smarter crypto investment decisions. Understanding the Bitcoin Rainbow Chart The Bitcoin Rainbow Chart, or Bitcoin Rainbow Price Chart, is a visual representation that simplifies Bitcoin's historical price data into a spectrum of color-coded bands. These colors help investors quickly assess whether Bitcoin is potentially undervalued, fairly valued, or overvalued. Created using logarithmic regression models, it provides investors with an accessible way to interpret Bitcoin’s valuation and identify investment opportunities at a glance. Bitcoin Rainbow Price Chart Source: blockchaincenter.net How Was the Bitcoin Rainbow Chart Created? Initially conceptualized by crypto enthusiasts in 2014, the Bitcoin Rainbow Chart gained popularity as it provided an easy-to-understand visualization of Bitcoin’s historical market behavior. Utilizing logarithmic regression, this chart effectively smooths out price volatility, helping investors identify key valuation levels based on historical price trends. Over time, the Rainbow Chart has become an authoritative resource, widely trusted by investors seeking a reliable method to evaluate market sentiment. How the Bitcoin Rainbow Chart Works At its core, the Bitcoin Rainbow Chart categorizes Bitcoin’s historical price levels into various bands, each represented by different colors—ranging from dark blue indicating extreme undervaluation ("Basically a Fire Sale") to dark red signifying extreme overvaluation ("Maximum Bubble Territory"). By visualizing this data logarithmically, the chart smooths out extreme volatility, making it easier for investors to understand Bitcoin’s broader market trends and sentiment. How to Interpret the Rainbow Chart Color Bands Each color band of the Bitcoin Rainbow Chart signifies a different market sentiment or valuation level: Dark Blue ("Basically a Fire Sale") and Light Blue ("BUY!"): Ideal moments to purchase Bitcoin as prices are considered extremely undervalued. Green ("Accumulate") and Light Green ("Still Cheap"): Good opportunities to gradually build your Bitcoin holdings. Yellow ("HODL!"): Neutral sentiment, recommending investors hold their existing positions. Orange ("Is this a bubble?"): Prices are potentially inflated, urging caution before making significant investments. Red ("FOMO intensifies") and Dark Red ("Maximum Bubble Territory"): Bitcoin prices are significantly overvalued; investors should consider selling or securing profits to avoid losses from potential market corrections. How to Use the Bitcoin Rainbow Chart for Crypto Investing Using the Bitcoin Rainbow Chart effectively requires combining its insights with sound investment strategies. Here's how you can practically apply the chart to your crypto investment: Finding Optimal Buying Times When Bitcoin’s price falls into the dark blue or light blue bands, historically, these have proven to be strong entry points for long-term investors. For instance, during the 2018 crypto winter, the chart indicated Bitcoin prices within the "Basically a Fire Sale" zone, around $3,000-$4,000. Investors who followed the chart’s signals and bought at these low valuations later benefited greatly when Bitcoin prices surged in subsequent years. Recognizing When to Sell When Bitcoin enters the upper bands like red or dark red, market sentiment is indicating overvaluation. An example occurred during Bitcoin’s price peak in late 2017 and again in 2021, where the price hit the "Maximum Bubble Territory" band around $19,500 and $64,000 respectively. Investors who took profits in these scenarios maximized their returns and avoided substantial losses during corrections. Refining Dollar-Cost Averaging (DCA) Strategies The Bitcoin Rainbow Chart also enhances your DCA approach. Investors may increase their buying frequency or investment amount when Bitcoin prices dip into "Accumulate" or "Still Cheap" bands and reduce their investment during higher-risk orange and red bands, effectively optimizing their overall portfolio costs. Common Issues Investors Encounter with the Bitcoin Rainbow Chart While helpful, the Bitcoin Rainbow Chart is not without potential challenges: Overdependence on Historical Data One common mistake is assuming past trends guarantee future results. Although historical price behavior can guide investment choices, Bitcoin remains susceptible to unpredictable market conditions, regulatory changes, or global economic events. Solution: Always combine insights from the Rainbow Chart with fundamental and technical analysis. Platforms like Bitget offer robust trading tools and detailed market analyses to support informed decisions. Misunderstanding Color Band Meanings Another common issue is misunderstanding the significance of each color band, leading to incorrect investment actions. For instance, new investors might mistakenly panic-sell when Bitcoin reaches the yellow "HODL" zone, misunderstanding its neutral stance as a negative indicator. Solution: Familiarize yourself thoroughly with each band’s meaning, and ensure you cross-reference multiple sources of market sentiment before making major investment decisions. Ignoring Short-Term Market Volatility The Rainbow Chart is most effective as a long-term trend indicator. Short-term traders might mistakenly use it for day trading, resulting in flawed strategies and potential losses due to volatile price swings. Solution: Clearly define your investment timeframe. Combine the Rainbow Chart with short-term indicators, such as moving averages or RSI, for comprehensive trading strategies. Practical Advice for Maximizing Your Bitcoin Investments Using the Rainbow Chart To fully leverage the Bitcoin Rainbow Chart, consider these actionable tips: Combine with Technical Indicators Confirm Rainbow Chart signals with other indicators like the Relative Strength Index (RSI) or Moving Averages. For instance, if Bitcoin enters the blue "BUY!" zone, and RSI simultaneously indicates oversold conditions, this strengthens your buying decision. Stay Updated with Market News Monitor cryptocurrency news, particularly regarding regulatory updates, technological advancements, or significant global events. These factors can significantly impact Bitcoin’s market valuation independently of historical trends. Diversify Your Investments Even when relying on the Rainbow Chart, diversify your investments across various cryptocurrencies. Platforms like Bitget facilitate easy diversification and help manage overall investment risk effectively. Frequently Asked Questions (FAQs) Is the Bitcoin rainbow chart accurate? The Bitcoin Rainbow Chart offers valuable insights based on historical data but should not be used alone for precise predictions. Combine it with comprehensive market analyses for the best results. Does the Bitcoin Rainbow Chart apply to other cryptocurrencies? Currently, the Bitcoin Rainbow Chart specifically reflects Bitcoin’s historical data. While similar charts might exist for other cryptocurrencies, this particular chart is tailored uniquely to Bitcoin. Can beginners effectively use the Bitcoin Rainbow Chart? Absolutely. Its simple, visual nature makes it beginner-friendly. However, new investors should take time to understand its limitations and complement it with further market research. Conclusion The Bitcoin Rainbow Chart serves as a powerful, user-friendly tool for simplifying crypto investing decisions, enabling investors to quickly interpret market sentiment and identify optimal buying or selling points. By combining the insights from the Rainbow Chart with careful analysis, comprehensive market information, and prudent investment strategies, you can confidently navigate the cryptocurrency landscape, turning its volatility into profitable opportunities. Feeling ready? Register now and explore the wonderful crypto world at Bitget! Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading guidance. Qualified professionals should be consulted prior to making financial decisions.

Top 10 Largest Crypto Airdrops Up to 2024

Crypto airdrops are a well-known phenomenon, but which ones stand out as the most significant in history? This article will delve into the top 10 largest crypto airdrops, examining their market impact and their role in advancing decentralized finance and Web3 adoption. Whether you're an experienced investor or simply interested in the trends, explore how these airdrops made waves and opened up new possibilities. Kickstart your crypto journey and get a 6200 USDT package gift What Is Crypto Airdrop? A cryptocurrency airdrop is a marketing strategy used by blockchain startups to promote a new virtual currency by distributing free tokens to wallet addresses. This initiative aims to increase awareness and encourage trading of the token, especially when it launches as an initial coin offering (ICO). Airdrops are often announced through websites, social media, and forums, and recipients may need to hold a minimum amount of a specific cryptocurrency or complete certain tasks, like sharing posts, to qualify for the tokens. Top 50 Crypto Airdrops in Crypto History In 2021, 18 of the top 50 crypto airdrops occurred, a significant increase from just 5 in 2020. However, the numbers dropped in 2022 and 2023, with 14 and 13 major airdrops making it into the top 50, respectively, likely due to the crypto winter bear market discouraging new airdrops. The total value of airdrops increased slightly from $7.28 billion in 2020 to $7.46 billion in 2022. Notably, Bonk (BONK) surged to its all-time high in December 2023, becoming one of the top airdrops. In 2023, the total value of crypto airdrops reached $4.56 billion, which is only 61.1% of 2022's value, as many new tokens released during this period have not yet experienced a bull market like those from 2020 to 2022. Top 10 Largest Crypto Airdrops Here are the 10 largest airdrops that have had a significant impact on the crypto landscape. Take a look below. #1: Uniswap (UNI) Uniswap (UNI) executed the largest crypto airdrop in history, distributing $6.43 billion worth of tokens on September 16, 2020, when the token peaked at an all-time high price of $42.88. This airdrop was a significant event during DeFi Summer, reviving interest in the airdrop model first introduced in 2014 with Auroracoin in Iceland. The airdrop targeted early adopters and active users by requiring them to interact with the platform before a specific snapshot date, ensuring that rewards went to genuine supporters of the Uniswap ecosystem. The distribution method was designed to enhance user experience and incentivize further participation, which ultimately increased the platform's user base and transaction volumes. This event boosted engagement with decentralized applications (dApps) and non-fungible tokens (NFTs), promoting innovation within the decentralized finance landscape. The success of the Uniswap airdrop not only solidified its market position but also set a precedent for future crypto airdrops, showcasing Uniswap's commitment to community growth and technological advancement. #2: Apecoin (APE) Apecoin (APE) conducted the second-largest crypto airdrop on March 17, 2022, distributing $3.54 billion worth of tokens when the price peaked at $23.63. The airdrop primarily rewarded owners of Yuga Labs' Bored Ape and Mutant Ape NFTs, allowing them to claim up to 10,950 tokens, valued at $258,737. By selling these tokens at their peak price, recipients could effectively acquire a free Bored Ape Yacht Club NFT, which had an average floor price around $200,099 prior to the airdrop. This strategic distribution aimed to enhance user engagement and expand the ApeCoin ecosystem, with 15% of the total $APE token supply allocated to NFT holders. The demand was met through a dedicated claim page, significantly benefiting the community. The impact of the airdrop was substantial, bolstering the network by attracting new users and increasing token liquidity, which led to enhanced trading volumes and decentralized network growth. By fostering a diverse user base, ApeCoin strengthened its market presence and set the stage for future innovations, emphasizing its commitment to community involvement and advancement within the blockchain landscape. #3: dYdX (DYDX) dYdX (DYDX) executed the third-largest crypto airdrop on September 8, 2021, distributing $2 billion worth of tokens at an all-time high price of $26.80. However, the full value of the airdrop is unlocked over a five-year period, with portions released incrementally. This structure means that while the initial distribution appears significant, recipients will realize the total value over time. dYdX is known for its innovative approach in the decentralized finance (DeFi) space, particularly its focus on margin trading, which allows users to enhance their investment returns. The airdrop aimed to reward user engagement and support, fostering a vibrant community around the dYdX ecosystem. To claim the airdrop, users connected their wallets on the official dYdX site, where they could verify their eligibility based on activity criteria such as holding specific cryptocurrencies or interacting with the platform. The impact of the airdrop was considerable, enhancing user adoption and liquidity within the market. By reaching a broad audience, dYdX increased its visibility and paved the way for future growth. This strategic initiative not only catalyzed user engagement but also reinforced dYdX's position as a leading player in the decentralized finance landscape. #4: Arbitrum (ARB) Arbitrum (ARB), a leading Ethereum Layer-2 solution, executed a major governance token airdrop on March 23, 2023, to promote decentralization and engage its community. The airdrop, valued at $1.97 billion, targeted early adopters and rewarded users based on their activity on the platform. Following the airdrop, Arbitrum experienced a significant surge in users and transactions, establishing itself as the largest Layer-2 network on Ethereum. The total value locked (TVL) in the Arbitrum ecosystem increased by 147.2%, reaching a peak of $3.68 billion. This initiative not only strengthened community ties but also set the stage for future growth and innovation within Arbitrum. #5: Ethereum Naming Service (ENS) The Ethereum Naming Service (ENS) airdropped tokens valued at $1.87 billion to promote decentralization and user engagement. Following a snapshot on October 31, 2021, 25% of the total supply was distributed to holders of “.ETH” domains. Users could claim these governance tokens until May 4, 2022, with allocations based on the duration of domain ownership, expiration times, and engagement levels. The airdrop significantly increased ENS's visibility and encouraged new users to adopt ENS domains, resulting in positive community engagement and discussions. This initiative not only rewarded existing users but also fostered a supportive user base, contributing to the long-term growth and stability of the ENS ecosystem. #6: Internet Computer Protocol (ICP) The Internet Computer Protocol (ICP) Airdrop, conducted in May 2021, was a strategic initiative valued at approximately $1.74 billion, aimed at expanding the network's reach and increasing user engagement. The airdrop distributed tokens to about 50,000 active participants, including those involved in wallet activities and community interactions, with each receiving around 2,513 tokens. This initiative significantly impacted the cryptocurrency community by driving attention, enhancing token liquidity, and promoting a more decentralized network. By rewarding early adopters and fostering a diverse community, the airdrop established a foundation for future governance participation and set a new precedent in the crypto industry, encouraging similar strategies for boosting network engagement and decentralization. #7: Bonk (BONK) The Bonk (BONK) token airdrop, valued at approximately $1.33 billion, ranks as the seventh largest airdrop in the crypto market. Launched in late 2022, Bonk is a meme coin associated with the Solana blockchain that has utilized airdrops to engage and expand its community, achieving notable attention and high market value by December 2023. The airdrop was strategically executed to target various segments of the Solana community, ensuring broad and fair token distribution. Key allocations included 21% for Solana NFT holders, 15% for DeFi users, and 5.3% for validators and developers, reflecting an inclusive approach aimed at fostering community participation. The impact of the Bonk Airdrop was significant, leading to increased activity on the Solana blockchain and higher transaction volumes, especially around listings on major exchanges like Coinbase and Robinhood. This initiative not only enhanced Bonk's market presence but also contributed to greater liquidity and user engagement within the Solana ecosystem, reinforcing its vitality and functionality. #8: Celestia (TIA) Celestia (TIA), known for its innovative modular protocol, is conducting the Genesis Drop airdrop, distributing 60 million TIA tokens to eligible participants. This initiative aims to reward early adopters and increase community engagement within the ecosystem. The distribution targets various contributors, including public GitHub contributors, active users of Ethereum rollups, and stakers or IBC relayers on platforms like Cosmos Hub. Each of these groups will receive 20 million TIA tokens. The airdrop is expected to enhance network activity and trading volumes, promoting greater decentralization and resilience in the Celestia network. Valued at around $0.73 billion with an all-time high price of $13.99, the Genesis Drop is the second largest crypto airdrop in 2023 and does not utilize 'farming' mechanisms, focusing instead on rewarding specific beneficiaries. #9: LooksRare (LOOKS) The LooksRare (LOOKS) airdrop in 2022 distributed around $712 million worth of tokens to eligible users who traded on OpenSea between June and December 2021. Participants could claim up to 10,000 LOOKS tokens by listing an NFT on the LooksRare platform, with distribution amounts based on their trading volumes. The airdrop resulted in a significant immediate impact, boosting the token's value by 180% and generating over $20 billion in trading volume. However, long-term engagement proved challenging, with less than 10% of airdropped wallets remaining active four months later and only 0.2% a year after. This illustrates the effectiveness of airdrops for short-term engagement but underscores the difficulty of sustaining long-term user interest in the crypto market. #10: 1inch Network (1Inch) The 1inch Network (1Inch) airdropped approximately $671 million worth of tokens to users in December 2023, including an additional 15,055,000 1INCH tokens for users of Mooniswap, Uniswap, Gnosis, and Argent. Conclusion These airdrops have not only benefited early adopters but have also shown their promise as instruments for market engagement and expanding networks. As the cryptocurrency landscape continues to change, airdrops serve as an essential mechanism for projects to draw in users, enhance liquidity, and encourage active involvement. By keeping up with these influential events, investors and enthusiasts can gain a clearer insight into how airdrops influence the future of cryptocurrency and decentralized ecosystems. Trade Smarter. Invest Wiser. Grow with Bitget Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Bitget Hot Takes (November 06 - November 12)

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, the 360-degree onboarding guide for all crypto enthusiasts. The latest Bitget Hot Takes can be found here. Central Themes • BGB clings to US$0.48, volume up by 56%. • To be watched out the week ahead: U.S. CPI release on November 14, 2023. • Bitcoin breached US$37,000, Ethereum US$2,000, Solana led the Top 10. • Poloniex got hacked with estimated losses over US$100 million. BGB Clings To US$0.48, Accumulation Trend Still Strong The 7-day performance of BGB is +1.5%, seemingly modest in comparison with others, but remember that we’re back and forth between US$0.48 and US$0.49, which is close to its all-time high of US$0.513378 (also established this year). The smaller movements in BGB prices explain the lower volatility, and again, we need not to say that we are happy with this current level of volatility. However, the fact that BGB is still lingering around its four-month high continues to spark investors’ interest, and results in a surge of 56% in its weekly volume to US$200 million. When we look at the 4H chart, it’s clear that accumulation trend is quite strong, hence why BGB’s volume-to-mcap ratio is picking up. If you are new, hi there, BGB is the native token of Bitget. It’s currently one of the most searched for tokens on CoinGecko, and we invite you to learn about the perks that come with BGB to see why this wonderful token is so loved. BGB has hit its all-time high this year in June at US$0.513378 (and US$0.490540 as of last week) from a mere opening price of US$0.181712 on January 01, 2023. We have good reasons to retain our faith in its incredible performance: BGB Sail: September Edition BGB Sail: August Edition BGB Sail: July Edition BGB Sail: June Edition BGB Sail: May Edition BGB Sail: April Edition BGB Sail: March Edition BGB Sail: February Edition ‘Leave Crypto If You Haven’t Tweeted “We’re So Back” This Week’ Let’s start with the biggest news - so far (yes we hope for more) - this year: Bitcoin prices are back to US$37,000 and Ethereum to US$2,000 for the first time since May 2022! Among the Top 10, Solana recorded the biggest gain this week of 33.7%, followed by a 16.5% increase in volume. Most traded in the Top 10, however, is our beloved memecoin DOGE: up by 13.5% in value and 121% in volume! The joy spread out quickly across markets, X (formerly Twitter) and Telegram of course. Do you remember Beeple, the man who sold the first ‘purely digital artwork’ for US$69 million at Christie’s? He has decided to rename his upcoming event from ‘Crypto Winter Wonderland’ to ‘Crypto Bonerland’. And in the Halloween special episode of ‘The Simpsons’, we get to see Homer minting a Bart NFT, Marge trying to rescue him by going into the blockchain, and the Mayor announcing the digitisation of the city’s art gallery. All the hype and well, as ThreadGuy said: ‘leave crypto if you haven’t tweeted “we’re so back” this week’. We have every reason to believe that this comeback is mainly driven by institutional interest, with a big dose of hopium for not only the first spot Bitcoin ETF but also the first spot Ethereum ETF in the U.S. On the other side of the planet, Hong Kong is considering a spot Bitcoin ETF as well. The City has proved their ambition in becoming a true crypto hub in Asia with crypto retail trading, an ecosystem of tokenised products, and UBS’ new service for wealthy clients, which allows them to trade three currently available crypto ETFs in Hong Kong: Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures ETFs. Another big player to join the crypto force is HSBC, who plans to begin to offer tokenised securities custody service for institutions in 2024. Meanwhile, Standard Chartered’s venture arm SC Ventures has partnered up with Japanese financial conglomerate SBI Holdings to invest US$100 million in crypto. The Latest Bitget News First, take a look at our incredible performers of the week here: This week we have eight tokens whose 24-hour change exceeds 100%: T2T2/USDT, GROK/USDT, ARBINU/USDT, HMTT/USDT, SHRAP/USDT, SATS/USDT, FERC/USDT, and TEM/USDT, three out of which are Bitget’s initial listings. If you are a spot trader, don’t forget that we are calling for project recommendations - submit info about your favourite project and earn 100 USDT once it’s listed on Bitget! Don’t forget that our spot listings always come with a bunch of real good deals:• 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! • Bitget Launchpool: Similar to Bitget Savings, but it’s for BGB owners to put their holdings to work! • Buy new tokens with 0 fee: We introduce a new token every week, and you can buy it with your Credit/Debit card at no processing costs for seven days! Added to the program this week is ORDI - don’t let this opportunity pass by! Want some extra juicy deals? • Check out Bitget’s Zero-Fee Program: activated every Wednesday and every weekend for Bitget users who own a Credit/Debit card! • Play Spin and Raffle before November 19 to share 200,000 USDT! • Save the date for Bitget’s Black Friday Deals: for the EU region, U.K, Canada, Australia, Spain, Portuguese and LATAM region! • 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 Spot Trading’s volume went UP by 71%. Bitget Futures Markets’s average crypto OI saw a further expansion of 23%, average Bitcoin OI by 14.7% in the last 7 days, meaning Bitcoin dominance on ours futures market decreased by another 6.8% to land at only 47%. Bitget Rewards Center has been upgraded! New users can now get up to 5,027 USDT for free and earn an additional bonus when you log in to your account daily. Sign up immediately to get the most out of our promotion campaign! New Events Virtual Versions (VV) will be listed on Bitget. Come and grab a share of 630,000 VV! Nakamoto Games(NAKA) will be listed on Bitget. Come and grab a share of 10,000 NAKA! Chappyz (CHAPZ) will be listed on Bitget. Come and grab a share of 20,000 USDT! HiFi Finance (HIFI) GROK (GROK) will be listed on Bitget. Come and grab a share of 19,000 USDT! Bitcoin Gold (BTG) will be listed on Bitget. Come and grab a share of US$6,000 worth of BTG! MetaTrace (TRC) will be listed on Bitget. Come and grab a share of 86,000 TRC! Hype Meme Token (HMTT) will be listed on Bitget. Come and grab a share of 1,000,000 HMTT! Sats(SATS) will be listed on Bitget. Come and grab a share of US$6,000 worth of SATS! Shrapnel (SHRAP) will be listed on Bitget. Come and grab a share of 428,000 SHRAP! Sakai Vault(SAKAI) will be listed on Bitget. Come and grab a share of 3300 SAKAI! Deposit to List: Sexone (SEX) - Deposit and Share 0.00007295 SEX Rewards! Deposit to List: Sundae The Dog (SUNDAE) - Deposit and Share 2,755 SUNDAE Rewards! November new user bot trading perks — share a 60,000 USDT prize pool and enjoy loss protection on your first trade Join Bitget as an elite trader for rewards! Bitget's Diwali Fest: Unlock Crypto Riches! Join the Bitget Hunter program to win up to 2500 BGB and Messi merch 100,000 USDT Prize Pool Up for Grabs! NewDegen 2023 On-Chain Trading Competition: Registration Now Open! Get USDT at a 10% discount everyday on Bitget P2P! Good Reads Chappyz (CHAPZ): Leveraging AI to Foster Authentic Communities in Web3 What Is Grok (GROK) and How Does It Work? Hong Kong Poised to Approve the First BTC ETF in Asia Why Are Memecoins So Popular? A Deep-Dive Trade Like a Pro: Follow Unlimited Experts with 100 USDT on Bitget Copy Trading Simply create an account, and start exploring the incredible Bitget-Verse today!

Bitget KCGI 2023: Unleashing the World's Trading Titans

Fellow traders, we’re proud to announce this year’s King's Cup Global Invitational (KCGI), a trading extravaganza where the world's finest trading talents come together to showcase their skills and compete for the ultimate prizes! Hosted by Bitget, a leading global cryptocurrency trading platform, KCGI is the ultimate battleground for individuals and teams daring to prove their trading prowess in the dynamic and ever-evolving world of digital assets. A quick recap Last KCGI (Football Edition) attracted over 32,000 participants and just shy of 200 teams amid a bleak crypto winter. A total of 565,000 USDT was distributed as rewards, including 5 BTC when BTC was at rock bottom. This year, we have sweetened the deal by increasing our total prize by almost 400% and adding more contests games for everyone to join. Down with the gauntlet, up with the prize There are 4 major contests this year at KCGI: Spot Trading Contest, whose enrollment starts on August 18 and the main stage begins on September 1, is open to teams of 5 or more with a chance to share our 50,000 USDT prize pool; Demo Trading Contest, whose enrollment and main stage both begin on September 5, is open to individuals. You will be trading with 100,000 USDT in a demo account and get a chance to share our 20,000 USDT prize pool; Futures Copy Trading Contest, whose enrollment starts on September 1 and the main stage begins on September 15, is open to teams of 10 or more with a chance to share our ever-growing prize pool of up to 80,000 USDT. The more participants, the higher our prize pool; and Futures Trading Contest, whose enrollment starts on September 10 and the main stage begins on September 30, open to individuals and teams of 10 or more with a chance to share the crown jewel - our grand prize pool of up to 500,000 USDT (for individuals) and 2,000,000 USDT (for teams). This grand prize – over 2,650,000 USDT in total - will serve as an emblem of unmatched trading acumen, a symbol of success that will be remembered and revered among all crypto traders. …And more! KCGI should never be exclusively celebrated by traders. This year, we have added a roulette game open to everyone - earn free spins by finishing KYC, making deposits, trading, signing up for KCGI, and referring friends. In the heat of the battle, we will also be hosting a YouTube live session on October 26, 2023, where lucky participants will be drawn to share our special prize: the latest iPhone 15 Pro Max (if Apple is as consistent as we are), a Tesla Cyperquad, and an Airbus H135 helicopter! Tesla Cyberquad Airbus Helicopters H135 Stay tuned for more details about KCGI 2023, our live session, and our bountiful rewards! Some pep talk The road to victory will be filled with excitement, adrenaline, and high-stakes decision-making. All participants will be faced with ever-changing market conditions where they employ their honed strategies and instincts to stay ahead of the curve. But only the best of the best will emerge as champions, earning not only the grand prize but also the respect and admiration of their peers. So, gear up for the most thrilling trading competition of the year, where dreams will be realized and legacies forged. Join us in celebrating the spirit of competition and camaraderie as we embark on this exhilarating journey to crown the ultimate trading royalty at Bitget's King's Cup Global Invitational! Let the games begin!

Bitget Hot Takes (July 17 - July 23)

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, the 360-degree onboarding guide for all crypto enthusiasts. The latest Bitget Hot Takes can be found here. Central Themes • XRP flipped BNB to become the fourth largest cryptocurrency by market cap. • OpenAI CEO's Worldcoin (WLD) will launch on Bitget today, July 24, at 8:00 AM (UTC). • The Twitter account of Uniswap’s founder Hayden Adams was hacked. • Signs of altseason in Q3 following the XRP ruling. BGB Is Seeing A Positive Divergence As both the global market cap and BTC price didn’t succeed in breaching resistance levels, most cryptocurrencies landed in red, except for Ripple (XRP). The ruling clearly has a positive impact on the token, helping it secure the 4th place on the list of biggest cryptocurrencies by market cap. Despite the recent burn that is worth ca. US$480 million, BNB still lost another 5% of its value this week. BGB prices also experienced some further decline, though, ranging between as low as US$0.451967 and US$0.473984. However, the Accum/Dist line doesn’t show any signs of new troughs at all, meaning the current downward movement of BGB shouldn’t last long. BGB's volatility increased over the last seven days because of lower prices, but still suggesting better stability than XRP and BNB. However, BGB’s liquidity has been maintained at 0.02, only lower than that of XRP and ETH. That means buying and selling activities with regards to this token weren’t affected by the recent stall, and they clearly show better resistance to outside noises than Bitcoin. Here's a recap of BGB activities from July 10 to July 14, 2023: Check out our BGB Sail Series to see how impressive BGB monthly performance is: BGB Sail: June Edition BGB Sail: May Edition BGB Sail: April Edition BGB Sail: March Edition BGB Sail: February Edition BGB Sail: December Edition BGB Sail: November Edition BGB Sail: October Edition BGB Sail: September Edition BGB Sail: August Edition BGB Sail: July Edition BGB Sail: June Edition BGB Sail: May Edition On a side note, recent data shows that BGB has become, once again, the exchange token with the highest potential. The disproportionate growth between BGB value and Bitget makes room for BGB to soar higher - are you ready? Altseason Q3 This Year? Despite the fact that Bitcoin hasn’t been able to hold on the US$31,000 mark, data from Glassnode shows that the number of new Bitcoin addresses a.k.a. ‘unique addresses that appeared for the first time in a transaction of the native coin in the network’ achieved new yearly highs on July 16 and July 18 at 544,678 and 547,534, respectively. Meanwhile, the total number of Bitcoin ordinal inscriptions has increased to 19,079,230 as of 0:00 July 24, which is equal to a rise of nearly 7% from 17,834,780 on July 17, per Dune Analytics. Learn more about Bitcoin ordinals with Bitget Academy: What Are Bitcoin Ordinals? There have been four key events that (almost) guarantee the end of a bearish cycle, including BlackRock’s change of heart on Bitcoin, followed by their Spot Bitcoin ETF application, XRP not labelled as a ‘security’ per the latest court ruling in Ripple’s case against the SEC, positive U.S. inflation data in June, and last but not least, the fear greed index consistently showing Greed since June 20. Now again comes the daily question of what we are buying today. Winter is almost over, there is no need for investors to hold tight on staples and stables and no need for developers to take a cautious approach to product rollouts. We are witnessing the (re-)surge of familiar names such as ChainLink (LINK), Axelar (AXL), Synthetix (SNX) and Uniswap (UNI). The former two are leading infrastructure providers and the latter top DeFi blue chips, which implies the rise of buidl-ers, once again. And that could very well lead to a new altseason in Q3, especially when Bitcoin dominance seems to continue to go down. The Latest Bitget News Are you an avid reader of Bitget Academy? Are you confident with what you have acquired from our knowledge bank? Participate in our completely new event to share 1,000 BGB prize pool - the rules are explained here! So excited to see how we have grown together! What’s new on Bitget, too? Of course the mighty Bitget Crypto Loan - through which any user can get instant access to more funds! Bitget Crypto Loan currently accepts BTC, ETH, USDT, XRP, LTC and BCH as collateral for the borrowing of 15+ assets. For a detailed guide on how to start borrowing right away, check out our Introduction to Bitget Crypto Loan! The biggest talk of the town is dropping on Bitget today: Worldcoin (WLD), a project founded by OpenAI's CEO Sam Altman, will be available for trading on Bitget Spot Trading on July 24, 2023 at 8:00 AM (UTC)! For spot grid traders, WLD/USDT will be available 24 hours later or July 25, 2023 at 8:00 AM (UTC) here! We have had several initial listings last week, all of which resulted in new extraordinary daily gainers: SALD/USDT (+760.5%), PC/USDT (+151.4%), UNIBOT/USDT (+146.9%) and WAGIEBOT/USDT (+129.0% on July 21 and +47.5% on July 23). Other awesome deals include ARKM/USDT (+1,233.7%), MOG/USDT (+255.4%), L/USDT (+203.6%), BITCOIN/USDT (+201.1%), PSI/USDT (+141.0%), QUICK/USDT (+111.8%) and SHIB2/USDT (+103.4%). Bitget Futures Markets saw a rise of 3.8% for the average crypto OI and 2.1% for the average Bitcoin OI in the last 7 days, meaning Bitcoin dominance on the futures market has fallen by another 1.6% on average, totally in line with the drop in Bitcoin dominance on the global market. Bitget Rewards Center has been upgraded! New users can now get up to 5,027 USDT for free and earn an additional bonus when you log in to your account daily. Sign up immediately to get the most out of our promotion campaign! New Events Worldcoin (WLD) has been listed on Bitget — come and grab a share of $25,000 in WLD! 50% Off Special Deal : Buy crypto with credit/debit card now! 80,000 BGB Giveaway! Deposit EUR or GBP Now! 80,000 BGB Giveaway! Deposit BRL Now! Bitget Builders Million Fans Program：Share the $5,000 Welcome Bonus Win the MacBook Air Be a #BitgetAcademyLearner, Prize Pool of BGB 1000! Invite friends to Earn and get a 20% rebate! Bitget Will List Mog Coin (MOG) in the Innovation and Meme Zone EML Protocol (EML) to be listed on Bitget — grab a share of the 11,000 EML prize pool! [Initial Listing] Bitget Will List YouSUI (XUI) in the Innovation Zone and DeFi Zone YouSUI (XUI) Savings is Live! Subscribe Earn up to 100% APR ! [Initial Listing] Bitget Will List Unibot (UNIBOT), Wagie Bot (WAGIEBOT) and Bridge Bot (BRIDGE) in the Innovation and BOT Zone Good Reads Understanding the 2023 Litecoin Halving: An In-depth Analysis What Is EML Protocol (EML) 3 Trends That Will Accelerate Crypto Adoption in 2023 and Beyond What is the Future of Blockchain in 2023? Simply create an account, and start exploring the incredible Bitget-Verse today!

From Jokes to Jackpots: A New Era of Meme Coins on Bitget

In the realm of cryptocurrencies, nothing is static; trends ebb and flow like the tides of a digital sea. After the biting frost of a crypto winter, which saw many digital currencies plunge in value, the landscape seemed barren and desolate. Yet now, as the digital world begins to thaw, an unexpected trend is making an astonishing comeback: meme coins. When Digital Humor Turned Profit These aren't your grandpa's blue-chip cryptocurrencies like Bitcoin or Ethereum. These are tokens inspired by internet culture, quirky humor, and the collective spirit of the online community. Is it like a joke, you may ask? Absolutely not. Meme coins are attracting serious investment and attention, stirring a feeling of déjà vu among long-time observers of the cryptocurrency space. Back in 2021, when Dogecoin, the first meme coin created as a joke, skyrocketed in value and became a household name, largely thanks to high-profile endorsements from the likes of Elon Musk. The Dogecoin phenomenon was a moment of peak meme coin mania, with a peak price of $0.739, representing an increase of over 20,000%. Dogecoin Price Chart Source: TradingView Now, the spark seems to come back. Over the past few weeks, crypto enthusiasts have been pouring money into meme coins. According to Dune Analytics, the trading volume of meme coins in the crypto market saw a massive increase of six times last week, reaching $2.3 billion, which is the highest it has been since May 2021. This is a significant surge from the preceding week's trading volume of $387 million. Weekly volume in meme coins Source: Dune Analytics Are you curious about which meme coins are fueling the current market frenzy on Bitget? Let’s find out. Pepe (PEPE) - The Audacious Challenger Aiming to Dethrone Dogecoin Could a frog dethrone the king of meme coin? In the realm of digital finance, where internet memes can turn into billion-dollar assets overnight, the ascent of Pepe (PEPE), an audacious newcomer, is challenging the supremacy of Dogecoin. Pepe is a meme coin launched on 17 April 2023, with the inspiration of the “Pepe the Frog” meme by Matt Furie. The creators of Pepecoin have cheekily positioned it as "the most memeable meme coin in existence" on its official Twitter feed. Unafraid of stepping on toes, Pepecoin frequently makes veiled digs at Dogecoin and even crafts its own Pepe memes featuring the frog triumphing over other meme coins. Pepe Market Cap reached $1.65 billion on May 06, 2023. Source: CoinmarketCap Its whimsical origins and approach have not hindered its growth, as it quickly climbed the ranks to be one of the top 50 cryptocurrencies being traded according to CoinMarketCap as of May 09. Since its launch, the coin has risen an impressive 7378.89% with the market cap reaching a high of $1.65 billion at one point. Consider investing in Pepe (PEPE)? It only takes 2 minutes to create an account on Bitget and start trading PEPE. Dejitaru Tsuka (TSUKA) - The Enigmatic Brainchild of SHIB's Founder Dejitaru Tsuka (TSUKA) is a truly decentralized project created by the elusive founder of SHIB, RyoshiResearch. With no whitepaper, token sale, dev wallet, or tax on transactions, this project is fully distributed and entirely run by the community. TSUKA was first listed on a major exchange in September 2022 by Bitget, and even though it is shrouded in mystery and ciphers, what it has achieved is nothing short of legendary. SHIB's founder changed his profile photo to Milarepa The beginning of Dejitaru Tsuka was cryptic, with the founder of SHIB deleting all posts on social media and changing his profile picture to a picture of the highly-regarded Tibetan figure named Milarepa. Around the same time, a token with the ticker TSUKA was launched on Ethereum, and its developer left cryptic messages on the blockchain And the community noticed it! Despite having nothing on its official website, the official Twitter has reached 30,000 followers, and the market cap went up 47,740 times, from $3,000 to $143.22 million on February 15, 2023. This exponential growth is a testament to the power of the community-driven approach. For more information on Dejitaru Tsuka, refer to Dejitaru Tsuka (TSUKA) Inspires Decentralization with Tibetan Buddhism. Consider investing in Dejitaru Tsuka (TSUKA)? It only takes 2 minutes to create an account on Bitget and start trading TSUKA. ArbDoge AI (AIDOGE) - Fusing AI and Memes for Crypto Dominance ArbDoge AI (AIDOGE)is an exciting new project within the Arbitrum ecosystem that merges AI and memes to create a unique crypto experience. The AIDOGE is the backbone of the ArbDoge AI community, and it is distributed solely to community members. This deflationary token has a supply of 210,000,000,000,000,000, and whenever you purchase AIDOGE, you'll get a Lucky Drop ticket that gives you a chance to win ARB, Arbitrum’s main token. Impressive Statistics of ArbDoge AI as of May 10, 2023 Source: ArbDoge A website ArbDoge AI is not just another meme coin! It was created by a large group of AI organisms with a passion for the Arbitrum platform. They aim to develop a product line that fuses web3 and AI, with the ultimate goal of expanding Arbitrum's functionality for the benefit of the community. AICODE is another token that the team is producing as part of their ArbCity project, which is a virtual destination for community members to spend time. Consider investing in ArbDoge AI (AIDOGE)? It only takes 2 minutes to create an account on Bitget and start trading AIDOGE. Floki Inu (FLOKI): From Meme Coin to 'The People's Crypto' In June 2021, a tweet from tech mogul Elon Musk ignited a new wave in the already turbulent seas of cryptocurrency. He announced that he would name his pet Shiba Inu "Floki," leading to the birth of the Floki Inu coin. Initially conceived as a dog-themed meme coin, much like Dogecoin, Floki Inu, now simply known as Floki, has since evolved into something far more substantial. Elon Musk's tweet made FLOKI go viral. FLOKI is an ERC-20 and BEP-20 compliant token. This dual compatibility means that it operates on both the Ethereum and Binance Smart Chain (BSC) blockchains. The multi-chain nature of the token provides flexibility, allowing users to easily perform a 1:1 FLOKI swap on the ETH-BSC bridge via atomic swaps. Floki has received recognition from NASDAQ as one of the best metaverse currencies to buy in 2022. The creators of Floki envisage it as a movement, not just a meme coin. Their vision to construct schools in underdeveloped countries is a testament to the project's commitment to social betterment. Floki's evolution, growth, and future plans serve as an example of how cryptocurrencies can create a tangible impact in the real world, far beyond the digital realms they inhabit. Consider investing in Floki Inu (FLOKI)? It only takes 2 minutes to create an account on Bitget and start trading FLOKI. Disclaimer: All investment strategies and investments are subject to the risk of loss. Nothing contained in this article should be construed as investment advice. Users are strongly advised to do their due diligence and invest at your own risk.

Kickstart Your Trading Painlessly With Bitget One-Click Copy Trade

According to a study by TripleA, 5.5% of Turkish people own at least one cryptocurrency as of 2022. The majority of the Turkish have long been investing in the U.S. Dollar and gold as alternatives, therefore it is completely fathomable that cryptocurrencies become popular in the country in no time. Established in 2018, Bitget has been one of the most resilient builders of the digital space. We were the first to introduce Bitget Copy Trade to the market in 2020 - a product that intends to immeasurably lower the entry barrier to crypto and crypto trading. There is no better time than now, as we are marching towards the gloomy days of the bear market, to position ourselves for the upcoming boom, and Bitget One-Click Copy Trade is here to make the process a whole lot easier. Bitget appreciates our keen supporters With 38,600 followers on Twitter and 23,700 members in Telegram group chat, Turkey is indeed one major supporter of Bitget. From a social perspective, more interactions mean a higher level of impact; the amount of trust Bitget receives from the Turkish region as well as from our 8 million users motivates us to keep building and innovating. In 2022 only, we have introduced nearly 100 new pairs to Bitget Spot Trading, several Initial Exchange Offerings (IEOs) on Bitget Launchpad, Bitget MegaSwap and Bitget Launchpool to help more users get familiar with decentralised finance (DeFi), and even acquired BitKeep to encourage self-custody. Prior to the exchange trust crisis last winter, Bitget had already announced our $200 million Bitget Protection Fund, whose reserves are kept in Bitcoin and Tether USD in our public wallets, in August 2022 to ensure fair and immediate relief when needed. Immediately after the FTX saga took place, Bitget increased the value of Bitget Protection Fund to 6,500 Bitcoin, 160 million Tether USD and 40 million Circle USD so that at least $200 million are held in stablecoins for the best liquidity and the rest (worth $182 million at the time of writing) is Bitcoin - the most widely traded crypto asset. In addition, the $5 million Bitget Builders Fund was introduced in November 2022 in a timely manner to provide urgent help for distressed FTX victims. There is no one else better prepared and quicker to respond than us, and not only for crypto causes. When we received the news about the devastating earthquake in Southern Turkey in February this year, it felt natural to participate in the relief efforts, so we committed 1 million Turkish Lira straightaway to the impacted people, and were glad that our action inspired many others to do so: a total of $9 million had been pledged within one week, all in cryptocurrencies. Bitget One-Click Copy Trade will transform the way you trade In the current complicated situation, it's of great importance to talk about security and compliance. Regarding security problems, Bitget implements a holistic risk control process with hot and cold wallet segregation, which is supported by big names in security tech: Suntwin Technology, Qingsong Cloud Security, HEAP, Armors, just to name a few. Our focus on the security aspect helps us secure our place in the top 10 Exchanges by Cybersecurity Rating from Crypto Exchange Ranks (CER), and receive 12 A+ Ratings from SSL Labs. Besides, Bitget has made every effort to provide top-notch customer protection by getting operational licence from different authorities - the U.S. and Canada, and at the same time adhering to local regulations to conduct uninterrupted operations across the globe. You can always count on seamless, uninterrupted operation with us! Bitcoin was launched more than a decade ago, but we still see people struggle with onboarding crypto. Designed to wonderfully simplify crypto trading, Bitget One-Click Copy Trade allows even newbies to start trading without the need to have loads of funds at hand or a deep knowledge of trading technique, or even plenty of time to look at the charts. With just one click, you will be able to copy all trades of a professional trader, whose credibility is demonstrated by their ranking, number of followers, rate of return, total profit/loss or their assets under management. A quick view of our current Top Traders. Source: Bitget Copy Trade To begin today, you need to join us and lock in 5,005 USDT in welcome bonus - hurry up before it's too late - and ask yourself this one question: how do you define ‘success' in trading? Being trusted by many other traders, or managing huge AUM with a decent rate of return, or simply achieving awesome profits? Once you got the answer to that question, you will find yourself scrolling through our list of verified traders by the category of your choice. Looking for someone in the same region? No problem, you can find advanced conditions on the top right of the list: Bitget Copy Trade’s advanced filters. Source: Bitget Copy Trade As you can see, by taking advantage of filter tags, even experienced traders can make good use of Bitget One-Click Copy Trade. If the beginners look for profitable techniques and strategies by crypto veterans, some traders may be searching for a new stream of passive income only, i.e. they do not want to spend most of the day monitoring their trades, and decide to give our Copy Trade feature a go. Loved by many users, Bitget One-Click Copy Trade has indeed helped us become the biggest copy trading exchange with the successful statistics as follows: In short, Bitget One-Click Copy Trade has and will continue to offer effortless and affordable trading to every Bitget user, and it's available in Turkish! Our support team, which is eager to help 24/7, also consists of energetic professionals in Turkey to help with any problems you may encounter, in your own language. Let us be the loyal company in your quest for a prosperous life! Simply create an account, and start exploring the incredible Bitget-Verse today!

Bitget Hot Takes (January 23 - January 29)

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, the 360-degree onboarding guide for all crypto enthusiasts. Bitget Hot Takes the week before can be found here. Central Themes • ETH sliding, BTC hovering above US$23,000 with hashrate hitting new all-time high levels. • DeFi blue chips are actively building and expanding to different chains. • New insights from Genesis’ bankruptcy filing; SBF attempted to influence witnesses. • Moody’s is in the early stage of developing a stablecoin scoring system. BGB Hit A New High For 2023 While Bitcoin managed to hold the US$23,000 mark throughout the weekend, BGB saw a small contraction of 0.07% in returns and Ethereum 3.25%. That could be a lil’ bit concerning for BGB diamond hands, but check out the chart below: Source: TradingView BGB reached 2023’s new high this week, following the bullish sentiment of general markets. The U.S. 2022 GDP numbers published by the Bureau of Economic Analysis seemed to have given BGB the momentum it needed to cross US$0.21 Check the analyses of BGB price trend in 2022 here: BGB Sail: December Edition BGB Sail: November Edition BGB Sail: October Edition BGB Sail: September Edition BGB Sail: August Edition BGB Sail: July Edition BGB Sail: June Edition BGB Sail: May Edition If you are completely new to the token, we are delighted to give you the full guide to BGB - the golden ticket to the Bitget Ecosystem here: Why BGB Is Your Bluechip Exchange Token. Markets Got Busy Again Ethereum prices saw quite a shrinking over the last seven days compared to Bitcoin and other altcoins. That could be a result of the unclear definition of the PoS Ethereum, which is discussed in the first volume of The Crypto Burrito. Of course ETH holders are looking for a reason to expect price soaring, and they have it: The Shanghai upgrade is set to take place in March. Developers have been working on it; a fork devoted to the purpose of upgrade rehearsal, called ‘shadow fork’, was finalised on January 23. As we are already in the last few days of January, there are less than 60 days until the Shanghai upgrade as well as the enabling of withdrawals on the Ethereum network. Under direct influence of this event are LSD protocols (again, check out The Crypto Burrito (Volume I): Ethereum Merge to learn more about liquid staking derivatives or LSDs). The biggest validator on the Beacon Chain (also the most popular LSD protocol per se), Lido, has published their design proposal for the ETH unstaking on the community forum and asked for feedback. The proposal needs to undergo a voting process by Lido DAO before any changes are implemented on the protocol. On a side note, we are seeing more L1s embracing LSD, with Marinade Finance introducing a reward programme worth around US$10 million for liquid staking on Solana. Last year, the U.S. announced the blacklisting of crypto-mixing service Tornado Cash, saying ‘Tornado Cash has repeatedly failed to impose effective controls designed to stop it from laundering funds for malicious cyber actors on a regular basis and without basic measures to address its risks’. That severely impacted the decentralised state of crypto, as Tornado Cash allows for easy, non-custodial, anonymous on-chain transactions. Now there’s a way out for Tornado Cash users: Web3 builder venture Chainway recently launched a Proof-Of-Innocence protocol, through which Tornado Cash users can prove that their funds do not come from hacker addresses while preserving their privacy. DeFi and NFT blue chips are building non-stop We can agree that many crypto blue chips are Ethereum-native protocols. But Ethereum’ congestion and high gas fees remain a firm entry barrier for new users, which understandably explains the rise of BNB Chain and most recently Polygon in terms of daily active users. Therefore, the biggest names are looking to expand their services to other chains: • Uniswap to deploy on BNB Chain: Proposal by 0xPlasmaLabs, preliminary polls see 80% saying yes; • Sushiswap to launch a perpetual DEX on Sei Network (per Sushiswap Head Chef), after the Head Chef proposed a change to the SUSHI tokenomics, following a temporary change to replenish the Treasury. Still putting the focus on Ethereum are MakerDAO, whose community is backing a proposal to yield interests for their Treasury from an earning vault by Yearn Finance, and Aave, which will soon launch a ‘fresh’ Aave v3 with the initial listings consisting of WBTC, WETH, wstETH, USDC, DAI, LINK, and AAVE. Three major news regarding the NFT/Metaverse space last week include: • Decentraland partners with Pedigree to bring canine adoption to the metaverse; • Bored Ape NFT game Dookey Dash registered over US$40 million (27,090 ETH) in 10-day trading as players are excited about the mystery rewards • The German carmaker Porsche releases the official Terms and Conditions (TC) for their Porsche NFT collection, which gives buyers the opportunity to withdraw from the purchase within 14 days. In the Wild West of NFT, Porsche is one of the first to honour consumer rights with this TC and may have set the example for future NFT projects so as to prevent rug pulls and scams. Trouble, trouble, trouble Crypto saw a new week of layoffs, half from the troubled actors: Gemini (10% of staff), DCG’s Luno (35%), CoinTracker (20%) and Moralis (numbers undisclosed). New from the court proceedings: Genesis’ creditor list shows not only crypto/financial firms (Gemini, Cumberland, Mirana, MoonAlpha Finance and VanEck, among others), but also government agencies - the Internal Revenue Service (IRS) and the Securities and Exchange Commission (SEC) of the U.S. as well. The creditor list of FTX appears to be even longer, with star athletes, crypto firms, tech giants, media outlets, the PM of Bahamas and public servants of both the Bahamas and the U.S. More information on the Chapter 11 Bankruptcy can be found here: The Crypto Burrito (Volume IV): Understanding 2022’s Crypto Bankruptcy Filings Still in the process are BlockFi and FTX. The former was granted permission to issue US$10 million in bonuses for their critical employees to keep them from fleeing to Google, Block Inc. and Walmart. Meanwhile, prosecutors are asking the judge to impose new bail conditions and FTX is seeking permission to subpoena SBF after the former FTX CEO used Signal to contact a potential witness in his criminal case. Celsius Earn users already received the ultimatum from the bankruptcy court, but they can still expect to get some of their assets back. A representative of the bankrupt crypto lender told the court that they are ‘in the later stages’ of developing a plan to return assets to Earn customers. Eligible Celsius accounts should also receive the Flare token airdrop after Celsius won court approval for the one-time distribution of FLR to users who had XRP locked on the platform as of December 2020. The Twitter accounts of Robinhood and Azuki were hacked last week. Hackers saw the opportunity to take advantage of their followers, thus promoting the scam token of RBH on BNB Chain and fake virtual land claims in Azuki's newly launched virtual world Hilumia. In-between these hacks was a phishing attack that resulted in the loss of US$1 million value NFTs owned by Moonbirds creator Kevin Rose. The Latest Bitget News Happy new year and Happy Lunar new year to our users with the upgraded 5,005 USDT Welcome Package for newbies! Register here and complete all tasks in Bitget Rewards Center to receive the gifts! Have you tried Bitget Spot Copy Trade on your Android devices? Realising how much our users love Bitget One-Click Copy Trade, we have worked diligently to release Bitget Spot Copy Trade - the sibling of Bitget One-Click Copy Trade that targets Bitget spot markets and our plentiful offering of crypto pairs. Learn how to dive in right now with our guide here. Another key component of Bitget Social Trading is Bitget Insights, which is now available on web here: Bitget Insights Web. Sign in right now and share your experience and opinions on markets to share US$4,000 in rewards. You can choose to contribute to the Bitget community either by creating valuable content or helping us recruit high-quality content creators - it’s completely up to you! Talk about Bitget Social Trading, new listings here for you: • New One-Click Copy Trade pairs: OPUSDT and PEOPLEUSDT • New Spot Grid and DCA Strategy Trading pairs: USDCUSDT, BUSDUSDT, GALAUSDT, ZILUSDT, APEUSDT, OPUSDT, GMTUSDT, NEARUSDT, FTMUSDT, OCEANUSDT, HOOKUSDT, ANKRUSDT, FETUSDT, WOOUSDT, PEOPLEUSDT, DYDXUSDT • New Futures Grid and DCA Strategy Trading pairs: ZILUSDT, OPUSDT, WOOUSDT, PEOPLEUSDT, DYDXUSDT • New Spot Margin pairs: APEUSDT and TRXUSDT Even before the FTX demise, Bitget has already been committed to bring transparency, safety and trust to the digital space. The latest snapshot of our Proof-Of-Reserves for December 2022 was released in early January with a Total Reserve Ratio of 223% and our Bitget Protection Fund maintained at 6,500 BTC and 200,000,000 USDT. However, we are determined to forge ahead by giving users with decent holdings the opportunity to apply for the brand new Bitget Fund Custody Service, through which their assets will be better protected in a separate address. New Events Make a Deposit, Share $10,000 Futures Trading Bonus Bitget Insights Web Launch: Share Insights, Earn Rewards up to $4000 Share 6000 USDT Get to Know 13 Community Reputation Roles' NFT VIP Earn Rewards for New Year: 3x APR, Free VIP Privileges! Anybody can be a Merchant on Bitget P2P and Earn 125$ in Weekly rewards! Bitget Elite Recruitment! Invest Like the Top Investors on Bitget Buy Crypto with 0% Fees Through Banxa Earn $10 Bonus! Broker’s Special - 100% Rebate for Limited Time Only! Get 3$ Free on your first P2P trade on Bitget P2P! [Bitget VIP] Free To Claim Your New Year Gifts Join Bitget Discord and Participate in the New Weekly Registration Contest, Win BGB Bitget Partners with TealStreet; Plus, Register, trade for up to $8000 bonus！ Good Reads What is Stagflation and How Does It Affect the Crypto Market? The Crypto Burrito Volume III: The Never-Ending Saga Of FTX The Crypto Burrito Volume IV: Understanding 2022’s Crypto Bankruptcy Filings How Bitget Became A Dark Horse And Earns Market Share And Trust From Millions In Crypto Winter What Is DogeCoin (DOGE)? Follow us for the latest updates: Twitter | Telegram | LinkedIn | Facebook | Instagram

Bitget Bites (January 20, 2023)

The global market cap is standing at US$982 billion, showing a 1.53% increase from yesterday but the 24-hour volume went down by 32.98% to US$40.37 billion. Our report on activities of the Spot Market and Futures Market are below: Spot Market Updates Bitcoin has been trading between US$21,189 and US$20,689 within the last 24 hours. As of 3:30 AM UTC, BTC price stands at US$21,102, which is a 1.54% increase compared to Ethereum's 1.96% increase. Altcoin prices are seeing green, with XRP (+3.23%) being the only altcoin in the Top 10 trading above the volume of US$1 billion. The highest price and lowest price levels of BGB in the last 24 hours were US$0.1989 and US$0.1946, respectively. The Top 3 Gainers of The Day are PRIMAL (PRIMAL), ssv.network (SSV), and Saitama (SAITAMA): 1st Place PRIMALUSDT: Up by 22% PRIMAL combines 2 massively successful concepts: STEPN-style sports + Chiliz-style fan tokens. PRIMAL is trading at a current market price of US$0.011777, having touched a high of US$0.012149 and a low of US$0.008564 in the past 24 hours. 2nd Place SSVUSDT: Up by 14.64% ssv.network is designed for building high-performance, secure, and decentralized ETH staking applications. SSV is trading at a current market price of US$21.1862, having touched a high of US$21.7214 and a low of US$16.5966 in the past 24 hours. 3rd Place SAITAMAUSDT: Up by 9.68% Saitama is a community-driven platform that wants to develop solutions to educate the next generation of investors and make crypto simple and safe for everyone. SAITAMA is trading at a current market price of US$0.002021540375, having touched a high of US$0.002025821278 and a low of US$0.001700934186 in the past 24 hours. Meanwhile, the Top 3 Losers includeAMPLUSDT (-14.13%), REDUSDT (-12.87%), and HEXUSDC (-10.47%). Futures Market Updates Future activities are cooling down, with the Open Interest (OI) of all cryptocurrencies now recorded at US$4.57 billion, equivalent to a 1.58% 24-hour decrease. The aggregated futures volume saw a 81.03% decrease to US$1.11 trillion. Bitcoin remained the most popular underlying asset for Futures traders and, obviously, the most liquid market: Bitcoin OI Dominance accounts for 68% of the total OI, now standing at US$3.11 billion, which shows a 2.88% decrease from yesterday. The daily volume of Bitcoin contracts decreased by 48.77% to US$157,616.73. Funding rate of the last cycle stands at 0.0000%. Bitcoin Long/Short Ratio reflects the market sentiment on this flagship coin, now bullish at 56.53%/43.47%. Most BTC long ETFs locked in a price increase yesterday, but that's not the case for the highly anticipated ProShares' BTCUSDT">BTCUSDT">Short Bitcoin Strategy ETF (BITI), which closed the day at US$30.44 from the opening price of US$30.96. Interesting Topics The Ultimate Guide to Bitget Spot Copy Trading How Bitget Became a Dark Horse and Earns Market Share and Trust from Millions in Crypto Winter The Crypto Burrito (Volume IV): Understanding 2022’s Crypto Bankruptcy Filings Trending Events Invite Friends to Win an iPhone 14 Pro! Make a Deposit, Share $10,000 Futures Trading Bonus You trade. We cover your loss! 100,000BGB up for grabs Publish Your Strats - Share Up to 12k USDT in Bonuses! Bitget Insights Web Launch: Share Insights, Earn Rewards up to $4000 Bitget New Year Gift ⁠— Share Mega Red Packets! 31,000+ USDT! Win Big Rewards in Grid Trading Share 6000 USDT Get to Know 13 Community Reputation Roles' NFT Bitget x Jesse Promotion: Share $30,000 in Trading Bonuses! 1,000,000 BGB Benefits! Refer Friends to Win your share! Join Bitget Global Telegram Group (New), Win 5500 USDT Bitget Will List Rocket Pool (RPL) in the Innovation Zone - Share $10,000 Worth of Rewards! VIP Earn Rewards for New Year: 3x APR, Free VIP Privileges! Join Bitget Discord and Participate in the New Weekly Genghis Reward, Win BGB Anybody can be a Merchant on Bitget P2P and Earn 125$ in Weekly rewards! Bitget Elite Recruitment! Invest Like the Top Investors on Bitget Dual Investment Events and Rewards Policy for Influencers Buy Crypto with 0% Fees Through Banxa Earn $10 Bonus! Broker’s Special - 100% Rebate for Limited Time Only! Join Bitget Discord and Participate in the New Weekly Genghis Reward, Win BGB Get 3$ Free on your first P2P trade on Bitget P2P! [Bitget VIP] Free To Claim Your New Year Gifts Bitget Partners with TealStreet; Plus, Register, trade for up to $8000 bonus！ Follow Us For More Insights: Twitter | Telegram | LinkedIn | Facebook | Instagram

How Bitget Became a Dark Horse and Earns Market Share and Trust from Millions in Crypto Winter

A letter from Gracy Chen, Managing director of Bitget 2022 was one of the roughest years in the crypto industry, which saw the collapse of Terra LUNA, Celsius, and FTX, consequently wiping out over $2 trillion from the crypto market. However, the dark horse in the face of these ugly events was the Bitget crypto exchange. Bitget grew in all aspects; we made great strides in building our team, brand, and business over the last 12 months during the crypto winter. We expanded our services to the global Web3 market for the first time in 2022. This effort pushed our business development velocity beyond bounds, making it one of the fastest-growing exchanges with the best business momentum. Some of Bitget’s key achievements included: Ranking Top 3 in terms of crypto derivative trading volume, according to the Boston Consulting Group report. According to TokenInsight’s latest report, Bitget's market share in crypto derivative contracts increased from 3% to 11% after the collapse of FTX. Over 300% increase in total transaction volume, with the popularity of copy trading products. Bitget’s workforce grew from barely 200 people at the beginning of 2022 to over 1100 employees in Jan 2023. It has become the exclusive crypto exchange partner with Lionel Messi. Looking at the Numbers Previously, we focused on serving customers from a few Asian countries alone. However, by the end of 2022, we had acquired over 8 million users in more than 100 countries, with footprints in Turkey, Southeast Asia, Latin America, and Europe. We Bitget saw an over 300% increase in total transaction volume, with the popularity of copy trading products. The platform's flagship offering, One-Click Copy Trade, as of Dec 2022, has attracted over 80,000 traders and over 338,000 followers with more than 42 million profitable trades, leading the industry in the copy trading market. In the derivatives market, Bitget’s market share increased dramatically from 3% to 11% after the collapse of the former second-largest exchange, FTX, according to the latest data shared by the Tokeninsight report. At the end of 2022, the top 10 exchanges’ total daily open interest had dropped by 27.1% from January and 41% from its peak in April of the same year. Among the exchanges, only Bitget achieved a significant increase in open interest, from $841 million to $3.74 billion, representing a 344% total increase. Despite the bearish market, we attained these numerous figures when some other industry players went bankrupt. Our exchange beat the industry trend because we did four things correctly. We Define Copy Trading We spent the last four years perfecting our infrastructure and products for copy trading to provide the most outstanding socia l trading experience. One-click Copy Trade, our flagship social trading product, which enables customers to execute trades automatically, shadowing orders and strategies from the experienced traders of their choice, has worked wonders for our business and users. We saw many traders moving their funds from other big crypto exchanges to Bitget to enjoy the ease of copy trading. Our One-click Copy Trade feature streamlined the whole process of crypto trading to a single click, eliminating human errors in price fluctuations and providing a good starting point for everyone to get into the game. In 2022, we launched Bitget Insights and Strategy Plaza, where our customers can find ways of maximizing their yields. These features on the site help users choose the most lucrative trading methods to subscribe to. Innovative copy trading products and social trading services are Bitget’s quintessential attributes and have made Bitget one of the largest crypto copy trading platforms. Protection and Security for Users We have also taken many security measures to ensure users can trade with ease and comfort, as demonstrated by the following: In the past four years, Bitget almost achieved zero accidents despite the various market conditions. This feat was the inevitable result of the day and night monitoring and continuous advancement in our IT and security system in the past four years. We have set almost one of the best records in the industry. We also launched a 300 million Protection Fund that we will never use in the next three years in case of emergency, although we have not seen any emergency case in our four years of operations. Our Merkle Tree Proof of Reserves tracking page updates our snapshot monthly, ensuring a 1:1 reserve ratio of customer funds. We have also developed an open-source tool, ‘Merklevalidator,’ available on GitHub. This resource reveals our on-chain data on third-party platforms like Nansen, CoinGecko, and more. Equal Priority to Retail Investors We have consistently adhered to putting our retail users first, going against many of our peers in the industry as they may value institutional and VIP users more. But we are more willing to serve retail users, so when designing product attributes, interest protection mechanisms, and product thresholds, we always have retail users in mind. At Bitget, retail customers get better services and more favorable rates. We believe retail investors are an essential momentum driver in the development of the crypto industry, which is very different from traditional finance. Working closely with Influencers Bitget accumulated highly motivated Key Opinion Leaders (KOL) and affiliates over the past four years. We currently have a network of over 100,000 close KOL partners worldwide. We were the most friendly platform for KOL and Key Opinion Consumers (KOC) in the industry. Together with these influencers, we spread the most professional trading strategies and high-quality content with users. Our social trading is one of the crucial parts of this system. We found a distinct development path that suits our characteristics and remains focused. Therefore, although many achievements have only manifested this year, it is indeed the result of continuous efforts over the past four years. Advice for Fellow Builders in the Bear Market Create a product with distinguishing qualities and become a leader in the field: people are naturally drawn to number one in the industry for all the right reasons. Security and protection is the most critical aspect of blockchain businesses. Ensure users that their funds are always theirs and are withdrawable at request. This way, everyone will be willing to store assets with the product. Every business decision should be made from the consumers' perspective. A product that provides users benefits and real use cases will eventually succeed because users will naturally stick around. My Vision for the Crypto Industry in 2023 As macro liquidity continues to affect the crypto market, the interest rate spike is expected to slow down in 2023 gradually. Although we are not sure when the interest rate cuts will happen, the impact of the Fed on macro liquidity will also continue to affect investors' expectations for the crypto market. In addition, the number of locked positions in DeFi is expected to increase slowly in 2023. Regardless of the decline in the value of popular blockchain tokens, the number of active users and new wallet addresses on chains like Polygon, Ethereum, and BSC has remained on the rise. As more DeFi blue chips slowly transform into the ecosystem's infrastructure, the lock-up volume and TVL of DeFi are expected to continue to rise in 2023. Therefore, I look forward to seeing how it will play out in 2023! Hopefully, my speech has been able to give some inspiration and confidence to the industry. If Bitget could still achieve steady growth in the bear market, I believe fellow industry businesses can accomplish the same. We will build the industry with healthy competition and continued userbase growth together!