Blockchain Press Releases
Bitget Reports a 250% Surge in Assets of Third-Party Custody Accounts, Highlighting Opportunity Pursuit
VICTORIA, Seychelles, Feb. 9, 2024 /PRNewswire/ — Bitget, a leading cryptocurrency exchange and Web3 company, has released a report outlining the usage of custodial wallets among various segments of market participants. The document sheds light on important statistics regarding investor behavior and market dynamics, as well as the general development of the crypto economy.
The study utilized data from Bitget’s third-party custodial accounts, which were launched in August 2023 through collaborations with digital asset custody providers such as Copper and Cobo. The research aims to explore the relationship between various market indicators and the duration of usage of custodial crypto wallets, revealing the following key takeaways:
- Total assets under custody have surged by 250% in the past four months surrounding the anticipation and subsequent final approval of the BTC ETF.
- Custodial accounts nearly doubled since November 2023.
- 43% of custodial account holders with short-term interests use their accounts for repeat deposits;
- Around 77% of all custodial accounts are used for short-term purposes, highlighting the strategic opportunity pursuit;
A more in-depth look at the research indicates that the increase in custodial accounts is linked to the overall performance of the crypto market and the growing anticipation of a bull run among users. Another important factor influencing the surge is the ongoing integration of cryptocurrencies into everyday life. Macroeconomic and global factors such as local conflicts and mounting geopolitical tensions are also playing an important role in pushing users to seek financial refuge in cryptocurrencies to safeguard their savings.
Institutional adoption is in focus of the research, highlighting rising interest towards Bitcoin and Ethereum ETFs, leading to a spike in investors’ using custodial solutions. Along with the Bitcoin price fluctuations, these factors could be cited as the main reasons for driving the volume of assets under custody by 250% in just four months.
At the same time, market-wide statistics reveal that short-term storage is the main purpose for which users start using custodial wallets. Such users exhibit increased activity levels and typically maintain a balance exceeding $100,000 for less than three months. The predominance of short-term usage over long-term was identified clearly in November of 2023, when trading volumes began to increase sharply across the market, driving more users to open new accounts and capitalize on opportunities.
“Bitget’s latest study highlights a captivating trend within the cryptocurrency space. The indicators Bitget used for conducting the research included both open data, such as crypto market capitalization and custodial wallet account numbers, as well as more specific data, such as institutional investor engagement. The statistics underscore the dynamic nature of the crypto economy and we expect the recent approval of Bitcoin ETFs to accelerate cryptocurrency adoption further. As we continue to witness this growth, Bitget remains committed to providing valuable insights and solutions to our users, helping them navigate the ever-evolving landscape of digital assets,” said Gracy Chen, Managing Director of Bitget.
Bitget consistently publishes comprehensive studies covering a broad spectrum of subjects relevant to its operating markets and the global trends that shape the decentralized economy. These reports serve as invaluable resources for professionals and market participants alike, offering valuable insights into potential shifts in various industries and identifying opportunities for growth and development.
For the full report, please visit: https://www.bitget.com/blog/articles/bitget-reports-a-250-percent-surge-in-custodial-assets
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. 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, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
View original content:https://www.prnewswire.co.uk/news-releases/bitget-reports-a-250-surge-in-assets-of-third-party-custody-accounts-highlighting-opportunity-pursuit-302058515.html
In recent news, Bitgert coin’s price is anticipated to soar in the coming days, marking a significant development in the cryptocurrency market. This projection has attracted attention from investors and enthusiasts alike, as they await potential gains from the anticipated price surge.
The expected rise in Bitgert coin’s price has stirred excitement among crypto investors, who are closely monitoring market trends and developments to capitalize on potential opportunities. This surge is attributed to various factors, including market sentiment, technological advancements, and investor confidence in the project’s prospects.
As the cryptocurrency landscape continues to evolve, Bitgert coin’s projected price increase underscores the dynamic nature of the market and the potential for significant gains. Investors are advised to conduct thorough research and exercise caution when trading cryptocurrencies, as price movements can be volatile and unpredictable.
Overall, the anticipated surge in Bitgert coin’s price reflects the growing interest and optimism surrounding the project, highlighting its potential to deliver substantial returns for investors in the near future.
Source: cryptodaily.co.uk
The post Breaking News: Bitgert Coin Price Expected To Skyrocket In Coming Days appeared first on HIPTHER Alerts.
Ethereum developers are setting their sights on improving the user experience of crypto wallets with the implementation of Ethereum Improvement Proposal (EIP) 3074. This proposal aims to simplify the process of interacting with Ethereum smart contracts, making it easier for users to manage their digital assets securely.
EIP-3074 introduces a new type of account called “constrained accounts,” which are designed to restrict certain types of interactions with smart contracts. This feature enhances the security of crypto wallets by limiting the scope of potential attacks and reducing the risk of unauthorized access to funds.
One of the key benefits of EIP-3074 is its ability to streamline the user experience of interacting with Ethereum smart contracts. By simplifying the process of managing digital assets, this proposal aims to make crypto wallets more accessible to a wider audience, including non-technical users.
In addition to improving usability, EIP-3074 also enhances the security of Ethereum wallets by introducing new permissioning mechanisms. Constrained accounts allow users to define specific rules and conditions for interacting with smart contracts, providing an additional layer of protection against potential vulnerabilities and exploits.
Overall, EIP-3074 represents a significant step forward in the ongoing effort to enhance the usability and security of Ethereum wallets. By introducing constrained accounts and new permissioning mechanisms, this proposal aims to make it easier for users to manage their digital assets securely while also reducing the risk of unauthorized access and potential attacks.
Source: coindesk.com
The post Ethereum Developers Target Ease of Crypto Wallets With ‘EIP-3074’ appeared first on HIPTHER Alerts.
Blockchain
Istanbul Blockchain Week 2024 Returns Showcasing Turkey as the Rising Star in Web3 Adoption
Istanbul Blockchain Week 2024 is making a comeback, highlighting Turkey as a rising star in Web3 adoption. This event, set to take place in Istanbul, aims to showcase Turkey’s growing prominence in the adoption of Web3 technologies and its potential to become a leader in the blockchain industry.
With a focus on fostering collaboration and innovation in the blockchain space, Istanbul Blockchain Week 2024 will bring together industry experts, developers, investors, and enthusiasts from around the world. The event will feature a series of keynote speeches, panel discussions, workshops, and networking sessions, providing participants with valuable insights and opportunities to connect with key players in the industry.
One of the key objectives of Istanbul Blockchain Week 2024 is to highlight Turkey’s vibrant blockchain ecosystem and its potential to drive innovation and economic growth. As a strategically located hub between Europe, Asia, and the Middle East, Turkey offers a unique opportunity for blockchain companies to tap into diverse markets and access a skilled talent pool.
The event will also serve as a platform for showcasing the latest developments and trends in the blockchain industry, including decentralized finance (DeFi), non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs), and more. Attendees can expect to gain valuable insights into the future of blockchain technology and its potential impact on various industries.
Istanbul Blockchain Week 2024 is expected to attract a diverse audience, including blockchain enthusiasts, investors, entrepreneurs, government officials, and academics. By bringing together stakeholders from across the globe, the event aims to foster collaboration, drive innovation, and accelerate the adoption of blockchain technology in Turkey and beyond.
Overall, Istanbul Blockchain Week 2024 promises to be an exciting and impactful event, showcasing Turkey’s growing influence in the blockchain industry and highlighting the country’s potential to become a global leader in Web3 adoption.
Source: cryptoslate.com
The post Istanbul Blockchain Week 2024 Returns Showcasing Turkey as the Rising Star in Web3 Adoption appeared first on HIPTHER Alerts.
-
Blockchain5 days agoMeritrust Credit Union Joins Metal Blockchain’s Banking Innovation Program
-
Blockchain Press Releases5 days agoDeltec Bank Receives System and Organization Controls (SOC 2) Type 1 Certification
-
Blockchain5 days agoZettaBlock announces the addition of blockchain data
-
Blockchain Press Releases7 days agoDiscover Move Move Coin: Is This the Next Sports Blockchain for Your Workout?
-
Blockchain5 days agoGlobal eCommerce Payments Markets to 2030 | A $612 Billion Opportunity | Blockchain Technology and Cryptocurrencies Reshaping eCommerce by Providing Secure, Cross-Border Payment Solutions
-
Blockchain5 days ago
Hong Kong joins global crypto ETF race
-
Blockchain5 days ago
Ankr expands Bitcoin liquid staking tokens to AI blockchain Talus
-
Blockchain2 days ago
Top 10 Sessions You Can’t Miss at MARE BALTICUM Gaming & TECH Summit 2024 (Tallinn, Estonia, 4-5 June)
