The Good Tech Companies - WhiteBIT’s Institutional Focus Drives Trading Volume To Record $2.7 Trillion In 2024

Episode Date: December 19, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/whitebits-institutional-focus-drives-trading-volume-to-record-$27-trillion-in-2024. For context, WhiteBIT’s trading volume surpassed major players like Kraken, whose annual trading volume stood at $628 billion. WhiteBIT’s trading volume exceeds Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #whitebit, #chainwire, #press-release, #blockchain-development, #crypto-exchange, #tvl-milestone, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. WhiteBit's annual trading volume surpassed $2.7 trillion. The company is the second-most visited crypto exchange in the world. Over 30 million people worldwide use services and products from the WhiteBIT Group holding.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Whitebit's institutional focus drives trading volume to record $2.7 trillion in 2024, by Chainwire. Vilnius, Lithuania, December 20, 2024, Chainwire, Europe's leading cryptocurrency exchange, Whitebit, concludes the year with notable achievements. The latest estimates reveal the company's capitalization has reached $38.9 billion, while the annual trading volume surged to $2.7 trillion. A 200% increase compared to the previous year. These figures encompass all exchange markets, spot and futures, showcasing the company's rapid growth and the increasing trust of its users. For context, WhiteBit's trading volume surpassed major players like Kraken,

whose annual trading volume stood at $628 billion. Whitebit's trading volume exceeds the GDP of countries like Italy or Canada and approaches the GDP of France, valued at $3 trillion. According to Whitebit founder and CEO Vladimir Nasev, this milestone reflects the exchange's innovative strategies and strategic focus greater than reaching $2.7 trillion as the result of our dedicated teamwork and the trust greater than of our clients. We remain committed to developing cutting-edge technologies greater than tailored to the needs of both retail and institutional traders. Top two in traffic in the fall of 2024, Whitebit secured its position as the second most visited crypto exchange,

with 33 million visits to the platform. This achievement positions it just behind Binance, reflecting the steady interest in WhiteBite e-services, key drivers of growth. One of the primary contributors to WhiteBit's record trading volume has been the onboarding of institutional clients. The exchange introduced a market maker program tailored to the requirements of large-scale traders. With low fees and rebates as high as minus 0.01%, the program provided conditions for high-frequency trading, drawing professional traders to the platform. Institutional loans also became a cornerstone for building trust within the professional community, enabling large-scale transactions. The platform's technical infrastructure also contributed, with features such as co-location to reduce latency, sub-accounts for strategy diversification,

and a robust API supporting its services for institutional clients. The introduction of a new affiliate program contributed by engaging communities of retail traders, supporting user acquisition, and enhancing trading activity, which played a role in Whitebit's strong performance. Currently, the exchange serves over 1,300 institutional clients, expanding global reach today. Over 30 million people worldwide use services and products from the Whitebit Group holding. These include the centralized exchange WhiteBit, the crypto payment solution WhitePay, the decentralized exchange WhiteSwap, the NFT marketplace WhiteMarket, and the gaming platform PocketRocket. Additionally, WhiteBit Group encompasses WhiteChain, its proprietary blockchain, and WhiteBitcoin, WBT, which has experienced 349.39% growth over the year.

With 600-plus trading pairs and more than 300 digital assets, Whitebit continues to strengthen its competitive edge in the global market. In a recent interview, CEO Volodymyr Nasov confirmed Whitebit's plans to enter the US market. Commitment to security Whitebit stands out as one of the most secure cryptocurrency exchanges globally. Ranked among top 5 in security by CER. Live, it is the first crypto exchange to achieve the highest level cryptocurrency security standard, CCSS, certification. The platform also holds a payment card industry data security standard, PC DSS, certification, safeguarding customer payment information, and has been recognized by Hacken for excellence in

cybersecurity. WhiteBit remains committed to continuous growth, solidifying its position in the international market, and expanding its impact on the global crypto ecosystem. About WhiteBit WhiteBbit is the largest European centralized cryptocurrency exchange founded in Ukraine in 2018, offers over 600 trading pairs, 300 assets, and supports nine fiat currencies. As part of the Whitebit Group holding, the platform serves more than 30 million customers globally. Whitebit collaborates with Visa, Faceit, FC Barcelona, Trabzonspor, the Ukrainian national football team, and Lifesell. The company IS dedicated to driving the widespread adoption of blockchain technology in Ukraine and worldwide. Contact Whitebit PR service PR at whitebit.com.

Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.