Surge in New Users on Bitget Exchange
In the first week of December, Bitget, a crypto exchange, experienced a significant increase in new user registrations. This surge surpassed the total number of registrations for December of the previous year by 20%. According to Bitget, 89% of these new users decided to explore cryptocurrencies, with a majority of 61% exclusively choosing Bitcoin.
Double the Searches for Bitcoin
During this period, there was also a notable spike in internet search queries related to Bitcoin. Google Trends reported that Bitcoin-related searches doubled from November 30 to December 6. This indicates a growing interest and curiosity surrounding the leading cryptocurrency.
Rise in Copy Trading and Cryptocurrency Derivatives
Another trend observed in the first week of December was an increased demand for copy trading in the spot market. There was a 23% rise in users engaging in this form of trading. Additionally, cryptocurrency derivatives saw a surge in popularity, with a 17% increase in users participating in copy trading for cryptocurrency derivatives.
Optimism for Spot Bitcoin ETF Approval
The recent surge aligns with the industry’s optimism regarding the potential approval of U.S. exchange-traded funds (ETFs) that hold digital assets. Analysts believe that spot Bitcoin ETFs could democratize cryptocurrency investing and reduce risks. Regulatory approval is expected as early as next month, fueled by the successes of cryptocurrency fund managers.
Hot Take: Bitget Sees Significant Increase in New Users Buying Bitcoin
Crypto exchange Bitget experienced a remarkable surge in new user registrations, surpassing last year’s count by 20%. The majority of these new users chose to invest exclusively in Bitcoin, reflecting the ongoing popularity and interest in the leading cryptocurrency. Additionally, there was a doubling of Bitcoin-related search queries on Google during the first week of December. This surge in interest coincided with a rise in copy trading and cryptocurrency derivatives. The industry is also optimistic about the potential approval of spot Bitcoin ETFs, which could revolutionize cryptocurrency investing. Overall, these developments demonstrate the continued growth and enthusiasm within the crypto market.
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