Key Performance Highlights
- Spot trading volume increased by over 7x compared to previous quarter
- Open interest surpassed $6 billion, hitting annual peak
- Perpetual contracts trading volume rose to $14 billion by March 2024
BingX, a leading cryptocurrency exchange, reported significant strategic progress during Q1 2024 driven by the bull market. The platform demonstrated robust growth across multiple metrics:
Financial & Operational Milestones
Spot Trading Surge
BingX's spot trading volume grew 7x quarter-over-quarter, fueled by:- 24 newly listed tokens (including BOME, WEN, MANTA)
- Record-breaking 4384.62% price surge for BOME on BingX
- Notable 1169.26% and 1033.33% gains for WEN and MANTA respectively
- Open Interest Growth
Reached $6,298,543,514 on March 26 - a 4x yearly increase with three consecutive months of growth. - Perpetual Contracts Boom
$14 billion in trading volume (7x QoQ growth), driven by the SuperX trading competition featuring $1M prize pool. - Web Traffic Ranking
Improved from #11 to #9 (December 2023 - February 2024) per ICO Analytics.
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Strategic Global Expansion
Sports Partnership
Became Chelsea FC's official sleeve partner in January 2024, marking BingX's sports industry debut.
Latin American Market Entry
Launched operations in Brazil (March 2024):
- Local currency (BRL) support via Pix transfers
- Enhanced financial accessibility in LATAM
Leadership Perspective
Vivien Lin, BingX Chief Product Officer:
"These achievements reflect our strong market position in the dynamic crypto landscape. As we continue global expansion, we remain committed to delivering exceptional trading experiences."
Company Background
Founded in 2018, BingX serves 10M+ users worldwide with:
- Spot/dérivatives trading
- Copy trading
- Asset management tools
FAQ Section
Q: What caused BingX's trading volume surge?
A: Combination of new token listings, record price performances, and engaging trading competitions.
Q: How does BingX's Brazilian integration work?
A: Users can purchase crypto directly with BRL via Pix transfer system.
Q: Why partner with Chelsea FC?
A: To increase brand visibility and connect with sports enthusiasts globally.
Q: Is BingX regulated?
A: The exchange complies with applicable regulations in all operational jurisdictions.
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Note: This content represents the provider's official information and doesn't constitute investment advice.