Bitget Gained the Biggest Market Share Increase, According to CCData

Broader metrics such as open interest, funding rates and the ratio of derivatives to spot transactions provide insight into current market sentiment.

According to CCData, open interest has soared following the approval of BTC and ETH ETFs earlier this year. In May, open interest on derivatives exchanges rose 30.5% to $55.2 billion as traders sought to capitalize on the surprise approval of spot Ethereum ETFs in the U.S. During this time, Bitget outpaced all major derivatives exchanges with a 39.2% increase in open interest, while larger players like Binance and OKX saw increases of 33.2% and 22.1%, respectively.

“Bitget’s growth is driven by a strong, supportive and engaged community that recognizes the power of the platform and its dedication to serving its users,” said Gracy Chen, CEO of Bitget. “Our recent internal analysis points to even greater potential growth in the coming months, and we will capitalize on this momentum to bring crypto to a wider audience.”

Bitget’s reserves evidence showed that it grew by 73%, 80%, and 153%, indicating a capital inflow of approximately $700 million. According to data from DeFiLama, in June, Bitget recorded the highest capital inflow of $1.3 billion, surpassing the capital inflows of Binance, OKX, Bybit, and all other major exchanges.