VICTORIA, Seychelles, October 10, 2024 (Globe Newswire) — Bitget, a leading crypto exchange and Web3 company, has announced the latest valuation of its Protection Fund for September 2024. Funds are an essential safeguard for exchanges and their users. , which has remained resilient over the past year, maintaining a valuation comfortably above its original commitment of $300 million. As of the end of September, the fund was valued at about $428.5 million, one of the highest valuations in recent months.
Confidence in the cryptocurrency sector continued to grow, especially with Bitcoin’s solid performance throughout this month, despite fluctuations in broader financial markets. The BitGet Protection Fund, which operates on Bitcoin and stablecoins, has benefited from Bitcoin’s upward trend, further increasing its valuation. On September 7, the fund hit its lowest valuation of the month at $350.5 million, when the price of Bitcoin fell to $53,923. However, the fund’s value quickly recovered as Bitcoin prices rebounded, ending the month with a respectable valuation of $428.6 million.
Bitget Protection Fund is designed to ensure users are protected in the event of unexpected market disruptions or security threats. The fund’s consistent increase in valuation is driven by Bitget’s commitment to working with transparent proof-of-reserve and the industry’s second-largest conservation fund to maintain a stable and secure environment for users around the world. This shows our efforts.
“The sustained increase in the valuation of the Protection Fund despite market fluctuations shows Bitget’s focus on maintaining user security and trust. Positive in the cryptocurrency space As momentum continues, Bitget remains committed to providing our global community with a stable and reliable platform to ensure the interests of our users are protected.” Bitget CEO Gracy Chen says.
As Bitcoin shows promising signs of continued growth, conservation funds are well-positioned to deal with market fluctuations. As the cryptocurrency industry moves forward, Bitget remains dedicated to providing a secure trading platform focused on long-term user security and risk management.
To see the Conservation Fund and its previous snapshots, go here.
About biget
Founded in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in over 150 countries and territories, Bitget Exchange uses pioneering copy trading, AI bots, and other trading solutions to help users trade smarter. We are committed to supporting you. Bitget Wallet is a world-class multi-chain crypto wallet that offers a comprehensive set of Web3 solutions and features, including wallet functionality, swaps, NFT marketplaces, DApp browsers, and more. Bitget encourages individuals to embrace cryptocurrencies through collaborations with trusted partners, including the official crypto partner of the world’s top professional football league LALIGA in East, Southeast Asia, and Latin America, and the global partner of Olympian Basun Cavusoglu (wrestler). I am. Champion), Samet Gumush (boxing gold medalist), Ilkin Aydın (national volleyball team).
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Risk Warning: Digital asset prices are volatile and may experience price fluctuations. Invest only the amount you can afford to lose. The value of your investment may be affected and you may not be able to achieve your financial goals or recover the principal amount invested. You should always seek independent financial advice and consider your own financial experience and situation. Past performance is not a reliable measure of future performance. Bitget is not responsible for any losses you may incur. Nothing contained herein should be construed as financial advice.
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