Crypto exchange WhiteBIT has hit a new milestone, ending the year as the leading crypto exchange in Europe among other achievements. According to on-chain data, the company hit a market capitalization of $38.9 billion. The exchange’s trading volume also hit $2.7 trillion, registering a 200% rise from last year.
The data represents all the markets offered by the exchange. It also highlights the swift growth recorded by the exchange amid the growing confidence of its user base. Blockchain data also showed that the platform’s trading volume surpassed most major players, including Kraken who registered an annual trading volume of $628 billion.
WhiteBIT’s remarkable growth and trade volume
According to details, the exchange’s trading volume outpaced the GDP of countries like Italy and Canada and only got shy of France’s $3 trillion. According to the CEO Volodymyr Nosov, the development shows the company’s ambition. He mentioned that reaching $2.7 trillion is the result of the company’s dedication and the trust of its users.
WhiteBit became the second most visited exchange in the fall with 33 million users. The feat puts it behind Binance, showing the appeal of its products to users. In addition, most of its users are institutional investors who are responsible for its rising trading volume. The exchange also created a feature for the needs of its institutional clients. The program provides room for high-frequency trading, bringing in the best traders to its platform.
WhiteBIT sets its goal for 2025
The crypto industry is preparing for 2025, as traders and investors anticipate life under Donald Trump. This is the first pro-crypto president in America, with the market expecting things to affect other markets globally. According to reports, WhiteBit wants to enter America, and investors are preparing for it after a confirmation from its CEO.
Presently, the platform has more than 30 million visitors, providing services for their needs under its ecosystem. Aside from its services, its token WhiteBit coin (WBT) is doing well, seeing a 349% increase in the past year. The exchange is also secure, ranked in the top 5 according to CER.live. Like most exchanges, WhiteBit will look to cement its international status and increase growth by contributing to the global industry.