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The cryptocurrency exchange reveals exclusive internal data for the first time
Leading cryptocurrency exchange Bitrue is today closing out its fourth year of operations and sharing exclusive details about its current status, as well as medium-term plans for its platform and native tokens.
Founded in 2018, Bitrue has established itself in a highly competitive market to provide a cryptocurrency investment service dubbed Power Piggy which has become one of the most popular features among users. Since its launch in 2018, Power Piggy has experienced an annual average growth rate of 114% in assets under management (AUM).
With operations now spanning over 8 countries with plans to continue expanding, the exchange continues to see growth across several key markets including South East Asia and Europe. They have posted a growth rate of 71% per year, while also revealing that they now have over 2 million monthly active users driving a trading volume of $2 billion on spot trading and $3 billion on futures trading, spread across more than 700 tradable assets. The company has found great success with the provision of trading on futures and leverage tokens which will continue to be an area of expansion in the coming months.
"It's an incredibly exciting time to be a company operating in the crypto space," said Adam O'Neill, Chief Marketing Officer at Bitrue. "Despite the current bearish sentiment, we continue to see an uptick in new users as well as professionals shifting their career to be crypto-oriented. As an established player in the field with a wide range of industry connections, we believe we are poised to become a world-class, tier 1 platform within the next year."
Bitrue 4th Anniversary Celebration
As part of the anniversary celebrations, Bitrue committed to a buyback of the BMAX platform token to the benefit of holders. The funding for the buyback is a portion of the approximately $100,000 in quarterly profits the platform has made from yield management services and is an initiative designed to enrich the platform's closest supporters. The buyback was completed on the 19th of July, with further buybacks planned as per the token roadmap.
Bitrue has also launched a series of exclusive yield farming pools for some of the most popular coins traded on its exchange, with its native tokens taking center stage. These pools are now available for users to invest in and offer APYs 20-50% higher than standard rates.
The activities celebrating the #Bitrue4thBirthday event can be found on the company’s Twitter account - @BitrueOfficial.
Bitrue Ventures - Investment Fund For Blockchain Projects
Bitrue also reiterated its commitment to Web3 innovation by announcing that it has tripled its investment team with plans to invest $50,000,000 in nascent crypto projects over three years. In March 2022, Bitrue announced that it had invested in Cardano-based decentralized exchange (DEX) WingRiders, contributing to its private funding round along with several other notable investors like Animoca Brands, MatrixPort, Spark Digital Capital, and Double Peak. They recently also announced an investment into Land of Conquest, an MMO strategy blockchain game. Bitrue Ventures continues to actively seek new projects with a focus on Web3 and GameFi. Interested parties can contact Bitrue at investment@bitrue.com.
About Bitrue
Launched in July 2018, Bitrue is a diversified cryptocurrency exchange with support for trading,
loans, and investments. Bitrue aims to utilize blockchain technology to bring financial opportunities to everybody regardless of their location or financial position. They have offices
worldwide and continue to develop new features at a rapid speed to fully service the new wave
of the digital economy. Find more information at www.bitrue.com
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