Quote from: makishart on April 21, 2024, 10:04:50 AM

Quote from: JeromeTash on April 20, 2024, 09:53:46 PM

Quote from: AltLord on April 20, 2024, 10:13:54 AM

What other factors can propel a CEX growth?

I think one of the biggest factors is how strict they are when it comes to KYC enforcement. Exchanges mostly grow big if the KYC requirements are relaxed. Remember Bitmex before KYC. It was so huge!
Once Bitmex started mandatory KYC verification, most of the derivatives trading volumes moved to Bybit as so on

KYC is also mandatory on bybit. I think the main different was in the event created by the exchange sites. I was bybit users and i often particpated in the token splash along with almost one hundred thousands of people in bybit. The event is pretty much the same like airdrop by doing fast trade and i can get decent amounts of money.
I was not even found this kind of event on bitmex, which is lack of regular event. This is why the majority of people were moving their money from bitmex to the exchange site like bybit or binance which is regularly launched various event the helped us as users to generate more money through in safest way.
Bitget was also very often create big events like bybit and binance, its bitgetwallet is always working with the various new projects in order to increase their engagement to the users. Bitmex was rarely doing this.

Quote from: JeromeTash on April 20, 2024, 09:53:46 PM

I don't know much about Bitget's KYC requirements, but I believe it's one of the reasons the exchange has grown exponentially.

I believe it's caused by lack of events on bitmex. it's not related to the KYC. People are seeing identity requirements are just a common thing these days. Only some people who against it. kind

You're right, events like Launchpools & PoolX are indeed a significant factor in Bitget's growth. However, I'd argue that compliance with regulations and policies, as well as listing high-quality alts early, are also crucial reasons. That's why this report ranked them as the CEX with the highest trading spot volume in Q1.