Universal Exchange Bitget has achieved a new milestone with the daily CFD trading volume on the platform reaching a new all-time high (ATH). This comes amid increased demand for gold, oil, and other commodities, which are experiencing significant volatility due to the war in Iran.
Bitget CFD Volume Surpasses $6 Billion
The exchange revealed in a blog post that its CFD business has reached a new ATH in single-day trading volume, surpassing $6 billion. This milestone comes amid the platform’s continued expansion across multi-asset trading.
As CoinGape reported, Bitget has expanded its spot market offerings to include tokenized stocks, ETFs, and precious metals. Crypto traders are notably increasing their risk appetite for traditional assets, trading them alongside Bitcoin and other crypto assets.
The exchange noted that this milestone reflects a broader shift in trading behavior. With increased volatility across the global market, especially due to the U.S.-Iran conflict, users are no longer focused on a single market, Bitget said.
As such, there has been an increase in trading activity across the gold, oil, forex, and major indices. Notably, oil prices have reached multi-year highs amid the war in Iran, while the Bitcoin price and the broader crypto market have seen wild price swings amid these geopolitical developments.
“Rather than reacting within isolated markets, traders are engaging multiple asset classes simultaneously,” Bitget noted, with respect to the current trading pattern among these crypto traders. It is worth mentioning that, earlier in the year, crypto traders had also taken increased interest in precious metals as gold and silver rallied to new highs.
An Indication Of Where Users’ Attention Is Going
Commenting on this milestone, Bitget CEO Gracy Chen said that this milestone is a clear signal of where users’ attention is going. “What stands out is not just the volume, but how it’s distributed across assets,” Chen remarked.
She also noted that markets are moving together more than ever and that traders are responding the same way. Meanwhile, this development highlights how DeFi and TradFi continue to merge, with traditional markets making their entry into the crypto space.
Bitget’s CFD offering enables these crypto traders to trade contracts linked to global assets while maintaining their margin in USDT. As CoinGape reported, Bitget recently unveiled an upgrade for stock and gold trading, providing these traditional assets with a dedicated trading environment.
“Through integrated access to multiple markets, users can respond to developments in commodities, currencies, and indices alongside crypto positions within the same account environment,” the exchange said. It added that the latest milestone signals growing demand for trading environments that bring multiple asset classes into one place.
Source: https://coingape.com/bitgets-daily-cfd-volume-tops-6b-amid-demand-for-gold-oil-derivatives/
