Finding Alpha in a Bull Market: How Does BGB Leverage Market APR?
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Finding Alpha in a Bull Market: How Does BGB Leverage Market APR?
Average return rate 138%, Golden Shovel BGB.
Navigating Web3 tides with focused insightsWith the U.S. SEC approving spot Bitcoin ETFs, Bitcoin's price has repeatedly hit new highs, intensifying competition among cryptocurrency platforms.
Both buyers and sellers are placing increasingly large bets amid surging market momentum, driving up open interest. Market volatility grips countless investors, who strive to interpret every subtle shift, seeking rational explanations for each price movement.
Observant investors have long noticed that this bull run differs from previous cycles—there is no broad-based rally. Instead, Bitcoin is leading the entire market upward. Investors who did not buy Bitcoin have largely underperformed the industry beta. Meanwhile, platform tokens have emerged as one of the few categories capable of capturing industry alpha while maintaining tangible value.
Recently, TOKEN2049 held its summit in Dubai—the city experienced a once-in-a-century rainfall. Bitget provided attendees with a temporary shelter and hosted an office opening day, inviting users to participate and engage in direct dialogue, gathering feedback firsthand. As the first exchange to publicly open its office space, Bitget’s move marks a milestone, showcasing its leadership ethos of openness and deep commitment to its community.
Average ROI of 138%: The Golden Shovel BGB
According to TokenInsight’s Q1 2024 report, platform tokens GT, BNB, and BGB surged by 108%, 95%, and 81% respectively—outpacing Bitcoin’s gains during the same period.
Image source: TokenInsight
Based on public data, Binance conducted 11 Launchpool events in 2024, achieving an average annualized return of 124%.
Bitget’s overall average annualized return exceeds Binance at 138%. So far in 2024, Bitget has launched seven projects via Launchpool, including high-profile names such as ZKFair ($ZKF), ZetaChain ($ZETA), and Ethena ($ENA).
Interestingly, BGB was the first platform token in this cycle to reach a new all-time high. Its market cap now exceeds $1.7 billion, ranking 57th among all crypto assets and making it the fifth-largest platform token. Viewing BGB’s price chart on a monthly basis reveals that it hits a new high roughly every one to two months.
In reality, many platforms aren’t launching IEOs not due to lack of will, but because top-tier projects have already been snapped up by Binance and Bitget. Since 2024, OKX has hosted only one Jumpstart project—Polyhedra Network—and even that was co-launched with Bitget.
Thanks to consistently high returns and strong price appreciation, BGB has gradually earned the nickname "Golden Shovel" within the community.
Through Launchpool, Bitget has expanded BGB’s utility, boosting demand while also locking up liquidity, increasing the scarcity of tradable BGB tokens and supporting long-term price growth. Beyond Launchpool, Bitget recently launched PoolX—a lighter-weight mining platform with faster listing cycles and higher frequency. It offers BGB and USDT yields between 20% and 30%, solid returns regardless of market conditions.
Moreover, holding BGB grants users multiple benefits on Bitget, such as 20% off spot trading fees and withdrawal fee waivers when staking BGB. According to the BGB whitepaper, Bitget plans to introduce future mechanisms like buybacks and token burns to further enhance BGB’s value and scarcity.
Uncovering High-Quality Assets, Deepening Spot Market Focus
During this market cycle, many platforms prioritize quantity over quality, listing numerous projects indiscriminately.
While data shows Bitget has also listed many projects—ranking third across exchanges with 186 new asset listings in Q1 2024—conversations with Bitget’s research and listing team reveal their strategy is far from blind volume-chasing.
Image source: Bitget
Bitget applies clear quantitative criteria when evaluating new assets. Rather than relying primarily on business development or channel recommendations, the process is research-driven and proactive—actively identifying high-potential assets. In interviews, Bitget Research revealed three core listing principles: value-driven, efficiency-first, and comprehensive coverage. Delivering wealth creation opportunities centered around user interests is fundamental to Bitget’s growth philosophy.
To generate more profit opportunities, Bitget lists tokens either with strong short-term upside potential or solid fundamentals for long-term growth. Examples include ORDI, the leader in the BRC20 sector; TIA, the frontrunner in modular blockchains; and GAS, the native token of the Neo blockchain. Thanks to early listings, Bitget has become a dominant market for these tokens, second only to Binance and OKX.
For early-stage trending assets, Bitget strives to list them as quickly as possible to capture critical time windows. For example, UNIBOT, a Bot-sector asset, was listed by Bitget as early as July 2023. When established projects surge again due to major catalysts, Bitget employs a unique strategy—it doesn’t always rush to list them immediately, avoiding encouraging users to chase pumps that could lead to short-term losses. Instead, Bitget waits for optimal timing. Community member Alice noted that Bitget initially didn’t list GAS, but shortly after a sudden positive development for GAS last October, Bitget announced its listing. She paid little attention at first—only to see GAS skyrocket tenfold in the following two weeks, rewarding those who entered at that moment.
For exchanges, balancing quantity and quality in project listings remains a significant challenge.
In an AMA, Bitget COO Vugar Usi stated that spot trading will be a key strategic focus for Bitget in 2024, with continuous expansion of available tokens, active pursuit of high-potential projects, and introduction of dedicated spot zones. To date, Bitget supports over 750 tokens and more than 820 spot trading pairs.
Data confirms Bitget’s spot strategy has delivered strong results, successfully striking a balance between volume and quality. According to TokenInsight, Bitget achieved the largest market share growth in Q1 2024, nearing 3%. Per 0xScope’s recent “2023 CEX Market Report,” Bitget has risen to fourth place in overall market share, with particularly rapid growth in spot trading. This progress in spot has also strengthened Bitget’s performance in derivatives—a traditional stronghold. Coinglass data shows Bitget’s BTC and ETH futures positions continue to climb, ranking second and third respectively among futures exchanges.
Image source: TokenInsight
User-First, Building a Top-Tier Platform
Bitget’s rise to become the fourth-largest exchange in just six years is no accident. Among its four corporate values, “user-first” comes first—indicating decisions stem from user needs rather than competitor moves.
Quarterly reports show Bitget collaborates with and supports over 190,000 clients, with an average response time under three minutes. Additionally, it has helped users recover over $190,000 in lost funds.
Image source: Public information compilation
When asked how Bitget aims to become a world-class platform, Vugar Usi emphasized that as the crypto industry matures, exchange competition will extend beyond platforms or trading mechanics to encompass the broader crypto ecosystem.
Indeed, Bitget has already built a diversified crypto ecosystem through comprehensive industry investments. These include acquiring the decentralized wallet Bitget Wallet, supporting VC firms like Foresight Ventures, and investing in emerging blockchains such as Morph—spanning multiple layers of the crypto value chain.
Another indicator of Bitget’s stature is its exclusive partnership with football legend Lionel Messi. Shortly after Binance signed Cristiano Ronaldo ahead of the 2022 World Cup, Bitget partnered with the other GOAT of football—Messi. With Ronaldo and Messi competing for supremacy on the world stage, signing Messi signals Bitget’s ambition to challenge the industry’s incumbent leader.
Beyond leveraging Messi’s unparalleled global influence to promote crypto adoption, the partnership resonates because Bitget’s journey mirrors Messi’s own path—from obscurity and skepticism, quietly grinding away out of the spotlight, to eventually earning global recognition and industry acclaim.
Image source: Bitget
Over its six-year journey, Bitget has witnessed the rise and fall of numerous crypto platforms. By adhering to a “long-termism” philosophy, it has delivered substantial returns to users and made meaningful contributions to the industry’s evolution. This is Bitget’s story—and a reflection of every serious, dedicated crypto company’s growth journey.
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