Bitget Proof-of-Reserves Report November Highlights Shows Highest Increase in 2024

Victoria, Seychelles, 5th December, 2024 - Bitget, the world's leading cryptocurrency exchange and Web3 company, has released their proof-of-reserves report for November 2024. The newest snapshot shows the updated data which projects the highest increase in asset reserves in 2024. In November, Bitget’s proof-of-reserves data surged across all major asset classes held by users, showing a growing trust and engagement with the platform.

Bitcoin reserves grew from 6,962 BTC in October to 8,284 BTC in November, marking a 19% month-to-month growth. This increase shows the rising user confidence in Bitcoin as a key asset, driven by recent surge. USDT reserves surged from $1,026,753,566 in October to $1,443,550,312 in November, representing a substantial 41% growth. Similarly, USDC reserves grew from 15,814,147 to 19,475,005, an impressive 23% increase. Ethereum reserves showed consistent growth as well, increasing from 102,876 ETH in October to 109,522 ETH in November, with a 6% month-to-month increase.

"Trust in the crypto space begins with transparency. The exceptional growth in our reserves this year highlights the confidence our users place in Bitget as a secure and reliable platform, and we remain committed to setting higher standards for accountability in the industry," said Gracy Chen, CEO at Bitget.

The collective upward trend across all asset classes highlights strong user confidence in Bitget’s operational stability and reserve transparency. This data suggests that Bitget’s proof-of-reserves initiative is resonating well with its user base, strengethening its reputation as a secure and reliable platform.

Since January, Bitget’s proof-of-reserves have experienced tremendous growth along with the exchanges' transaction volumes. The BTC reserve increased by approximately 146.62%, USDT surged by 162.88%, ETH reserves showing extraordinary growth of 324.36%, and USDC rose by 121.02%.

The updated PoR showcases Bitget's efforts in maintaining more than industry standard 100% reserves, which effectively guarantees that users' assets are safe. The platform is capable of covering user withdrawals, even if all user assets are withdrawn.

In addition to maintaining a higher than industry standard PoR, Bitget insures its users further with a $300M Protection Fund, now valued over $400 million according to its latest protection fund report. This gives the platform an extra layer of resilience against cybersecurity threats.

For real-time PoR tracking, please visit here.

Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

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