From BBO to T2T2: A Comprehensive Guide to Bitget Launchpad's Wealth Effect
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From BBO to T2T2: A Comprehensive Guide to Bitget Launchpad's Wealth Effect
Among the established CEXs, Bitget can truly be considered a rising star. But what exactly has made Bitget a dark horse in the cryptocurrency exchange industry?
Navigating Web3 tides with focused insightsAuthor: Mia, ChainCatcher
As rumors surrounding spot Bitcoin ETFs reach fever pitch, Bitcoin’s price has rebounded to its previous high from May 2022, and the crypto market is experiencing a "mini spring" rally, with various tokens rising one after another. According to data from blockchain analytics firm Glassnode, the crypto market has seen net inflows via stablecoins or dollar-pegged tokens for the first time in over a year. Over the past 90 days, the net supply of the four major stablecoins—USDT, USDC, BUSD, and DAI—has turned positive, signaling capital inflow into the market. This marks the first occurrence since mid-May 2022 following the collapse of Terra.
Amid this market recovery, the broader cryptocurrency industry and the CEX landscape are quietly shifting. According to the latest data from Coinglass, Bitget ranks fourth among cryptocurrency derivatives exchanges. Among established CEXs, Bitget has emerged as a true dark horse. But what exactly enabled Bitget to outpace other major exchanges and become a standout player in the crypto exchange space?
Launchpad Wealth Effect
Investors have long shown strong interest and confidence in new subscription-based investment models. Whether in traditional stock markets or the cryptocurrency sector, subscribing to new projects is widely seen as an opportunity to achieve high returns—some even call it “risk-free profit.” The IEO (Initial Exchange Offering) model, known for its relatively low risk and accessible entry barriers, has become today's most popular form of new project participation. By joining IEOs, investors can more easily access promising crypto projects while mitigating certain investment risks.
Bitget has embraced this trend by launching the “Bitget Launchpad,” bringing the IPO model from traditional stock markets into the cryptocurrency arena. Since its debut in January 2022, it has successfully launched 11 crypto projects, many of which have demonstrated significant potential, making Bitget Launchpad a top choice for investors.
According to historical data from CryptoRank on the average ROI at all-time highs (ATH) for the top ten platforms’ Launchpads in 2023, Bitget ranked first. Moreover, Bitget Launchpad continues to adapt to market dynamics and roll out innovative strategies. In its recent T2T2 Launchpad project, Bitget introduced a novel group-buy model—the first of its kind—lowering the participation threshold (minimum investment of 50 BGB), enabling more investors to join IEOs and benefit from returns. Driven by this innovative “group-buy” mechanism, Bitget Launchpad reached unprecedented heights. T2T2 delivered a remarkable 30x return on investment, becoming another flagship asset with outstanding performance since the inception of Bitget Launchpad. According to ChainCatcher data, since the relaunch of Bitget Launchpad—from PandaFarm (BBO) to the latest T2T2—all projects achieved peak returns exceeding 25x, reaffirming Bitget Launchpad’s return to prominence through consistently high yields.
Data source: Highest return statistics since the restart of Bitget Launchpad.
The IEO segment has always been a fiercely contested battleground among leading CEXs. T2T2’s stellar performance during the current crypto market "mini spring" has put Bitget Launchpad in the spotlight, capturing investor attention across the crypto space. A maximum return of 30x would unquestionably be hailed as a “wealth creation myth” in any market cycle. After prolonged disillusionment caused by black swan events like FTX, the crypto market had been starved of new success stories. The emergence of T2T2’s massive gains was like “coal in snow,” reigniting hope and, combined with the growing buzz around spot Bitcoin ETFs, pushing the entire IEO market to new heights. Investors are increasingly turning their focus toward this emerging IEO platform—“Bitget Launchpad.” Earlier, CryptoRank’s report on the top ten platforms’ Launchpad ATH Average ROI in 2023 already placed Bitget at number one.
At the same time, as “Bitget Launchpad” gains momentum, its native token BGB has surged to new highs. According to Bitget data, the platform token BGB briefly spiked to $0.58, up tenfold from its initial price of $0.058—creating yet another “wealth creation myth” beyond T2T2. Additionally, according to Bitget’s official November report, BGB’s market cap hit $800 million for the first time within just 24 hours between November 13–14, marking a 19% surge overnight. This made BGB the only exchange token to reach a new all-time high in November 2023. With BGB’s sharp rise, it temporarily entered CoinGecko’s trending coins list. Official data shows that BGB has now climbed into the top 69 largest cryptocurrencies by market cap on CoinGecko and the top 64 on CoinMarketCap.
CoinGecko’s top 69 largest cryptocurrencies by market cap and CoinMarketCap’s top 64.
As interest in Bitget’s native token grows, the Bitget Launchpad ecosystem powered by BGB—where holding BGB grants exclusive access to highly anticipated IEOs—is gaining increasing attention. Beyond the recent T2T2 project, “Launchpad” has also performed impressively throughout this year’s liquidity-starved bear market. Data from CryptoRank shows that since the beginning of 2023, Bitget’s IEO offerings have shown strong performance, with projects like PandaFarm (BBO) and H ALO (HALO) achieving peak returns of 200x and 149x respectively, leading the pack.
PandaFarm (BBO)
After an eight-month hiatus, Bitget announced the relaunch of its Launchpad in February this year, with PandaFarm serving as the inaugural project—and it delivered a resounding success. PandaFarm is a GameFi project built on Arbitrum, where its native token BBO can be used to adopt pandas, trade pandas, participate in gameplay, and unlock premium features. BBO has a total supply of 100 million, with 1 million allocated to the Launchpad sale.
On its listing day alone, BBO surged from its initial price of $0.05 to a high of $10, demonstrating explosive demand. It subsequently stabilized around $2 for the remainder of the trading day, delivering solid positive returns as expected.
Haloworld (HALO)
Building on the success of PandaFarm, the second post-relaunch project Haloworld (HALO) generated strong investor anticipation. According to official Bitget data, HALO attracted 52,410 participants—an increase of 12.17% compared to the prior BBO round.
HALO lived up to expectations, surging from its $0.02 launch price to $2.99 on listing day, before settling around $0.37 for the rest of the session.
With successful wealth-generation cases like PandaFarm (BBO) and Haloworld (HALO), Bitget Launchpad has undeniably become one of the hottest sectors in the crypto market. Subsequent projects such as GoSleep (ZZZ) and BIP1 (BRC20) each attracted over 15,000 participants, with peak returns consistently surpassing 25x.
The Battle for CEX Launchpads Continues
By now, it’s easy to understand why Bitget suddenly emerged as a dark horse among CEXs, rapidly ascending to the ranks of top-tier exchanges—after all, capital market investors follow the money. Bitget has unleashed a powerful wealth effect in a short period, sweeping through the CEX market and completely overturning the traditional notion of “established exchanges.” Instead, a new paradigm has taken hold: “Whoever creates wealth attracts traffic.” Undoubtedly, Bitget stands as a clear winner in this shift.
Likewise, Bitget’s rapid success will have profound implications for the entire crypto CEX industry, spurring innovation and progress among other exchanges and expanding choices and possibilities across the sector. Intensifying competition among CEXs will force platforms to confront new challenges and competitive pressures, driving them to seek innovative business models and value-added services to win user trust and capital inflows—ultimately pushing the entire industry toward greater openness, fiercer competition, and a stronger user-first orientation.
Following Bitget’s success, the CEX market will see even fiercer competition, with exchanges actively exploring new business opportunities, enhancing trading experiences, and offering superior value-added services to retain users and attract more capital. This will provide investors with more options and opportunities, fueling overall market growth and maturation. Such developments will inevitably trigger industry-wide transformation and reshape competitive dynamics, ushering in a new era suited to an increasingly mature and diversified digital asset trading landscape.
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