Bitget Wallet announced a joint investment with cryptocurrency investment firm Foresight X in decentralized exchange platform Tomarket. The partnership aims to expand the wallet’s services beyond traditional decentralized exchanges (DEXs) into emerging asset categories.
According to the press release, Tomarket is developed by experts from Binance and Microsoft, with the goal of addressing markets that traditional DEXs have yet to explore. The platform enables trading of real-world assets, crypto asset yield swapping, crypto points, and pre-TGE assets, enhancing liquidity. It is worth noting that liquidity refers to the process, speed, and ease with which a given asset or security can be converted into cash. The most liquid assets represent cash. In economics, liquidity refers to how efficiently and quickly assets can be converted into usable cash without substantially affecting their market price. Cash itself is the most liquid asset, while other assets represent liquidity. Liquidity refers to the process, speed, and ease with which a specific asset or security can be converted into cash. The most liquid assets represent cash. In economics, liquidity refers to how efficiently and quickly assets can be converted into usable cash without substantially affecting their market price. Cash itself is the most liquid asset, while other assets represent liquidity. It represents the value discovery of reading this terminology and these industries.
Tomarket is scheduled to launch in July and will initially be offered as a Telegram mini-app, providing an entry point for early adopters. This innovation comes amidst significant growth in the cryptocurrency industry in 2024, thanks to the Bitcoin halving and the approval of Bitcoin ETFs by the U.S. Securities and Exchange Commission.
Alvin Kan, Chief Operating Officer of Bitget Wallet, mentioned, “Trading has always been at the core of the cryptocurrency industry. Besides traditional token assets, new asset types such as RWAs and points are worth attention.”
“Through our investment and product collaboration with Tomarket, we aim to explore and develop markets beyond traditional DEXs, driving the growth of new crypto asset trading and solidifying our commitment to meeting the needs of new users.”
This period has seen the emergence of new asset categories such as crypto project point trading and pre-TGE tokens, which face challenges such as poor liquidity and high transaction trust costs. Tomarket aims to provide a comprehensive one-stop platform to meet the trading needs of these new assets.
Earlier this year, Bitget Wallet launched Bitget Onchain Layer, an intermediary aimed at helping users navigate the Web3 ecosystem. As the first ecosystem partner, Tomarket will be deeply integrated into Bitget Wallet, expanding the use of the wallet’s native token BWB.
Bitget Wallet offers a range of features, including asset management, perpetual trading, and NFT services. It supports over 100 major blockchains and 250,000 cryptocurrencies. Cryptocurrencies, also known as virtual currencies, are virtual currencies that are nearly based on blockchain technology, a decentralized network not supervised by central authorities. As a result, cryptocurrencies have decentralized properties that theoretically make them immune to government intervention. The term cryptocurrency originated from the use of encryption technology to protect network security. Cryptocurrencies, also known as virtual currencies, are virtual currencies that are nearly based on blockchain technology, a decentralized network not supervised by central authorities. As a result, cryptocurrencies have decentralized properties that theoretically make them immune to government intervention. The term cryptocurrency originated from the use of encryption technology to protect network security. Read this terminology.
Bitget’s trading volume has been steadily increasing recently. The company announced that spot and futures trading volume has grown by 100% compared to previous quarters, and the price of its native token BGB has also surged.
Bitcoin futures trading volume reached nearly $1.4 trillion, a 146% increase from the previous quarter. The exchange’s derivatives market share saw the highest growth, increasing by 2.4% in March. Spot trading volume also increased significantly by 113%, surpassing $60 billion in the first quarter of 2024.
