Key Takeaways:
Crypto derivatives exchange Bitget saw daily trading volume on its Contract for Difference (CFD) platform surpass $8 billion, a new high driven by a surge in demand for gold-linked products.
According to an official announcement from the company, gold-related products accounted for approximately 95% of the new trading volume growth, signaling a significant trend of crypto investors diversifying into traditional assets using stablecoins. This aligns with recent observations from industry veterans like Evernorth CEO Asheesh Birla, who noted a gap between strong fundamental adoption in crypto and lagging market prices.
The volume increase showed broad-based global demand. The Chinese-speaking region contributed 42% of the growth, while Europe and Southeast Asia added 27% and 16%, respectively. This cross-asset trading activity is facilitated using Tether's USDT, whose total supply on Ethereum and Tron has expanded by 5 billion in the past two weeks, per on-chain data monitors.
The milestone highlights a successful diversification strategy for crypto-native exchanges, enhancing the utility of stablecoins as a bridge to traditional financial instruments. This could attract more capital from traditional finance and intensify competition among platforms like Binance and OKX to offer non-crypto assets.
This article is for informational purposes only and does not constitute investment advice.
