Bitget Wallet Surpasses 40M Users, Closes Gap with Binance

Bitget has announced that its native wallet has exceeded 40 million users, achieving a remarkable growth of over 100% since March 2024. This achievement has positioned the platform closer to Binance, making it the second most downloaded crypto application globally.

Specifically, Bitget Wallet experienced 6 million downloads in September alone.

In a recent blog entry, Bitget credited its expansion this year to several important factors, including its integration with the TON ecosystem and Telegram. The team noted that this integration enabled users to access wallet services directly through the messaging app, fostering a more seamless link between conventional Web2 platforms and the advancing Web3 landscape.

Throughout the third quarter, TON on-chain addresses surged by 4866%. Moreover, Bitget revealed that it is observing swift user growth in emerging markets such as Africa, South Asia, and the Middle East, with some areas seeing increases as high as 413%.

While Bitget Wallet is achieving remarkable growth, Binance’s crypto application remains at the top with 9.9 million downloads for the month, despite encountering significant regulatory challenges.

Binance had previously led the crypto and fintech download ratings during the 2024 bull market. In the first quarter, the platform’s mobile application, which combines trading and Web3 features, garnered over 6.3 million downloads.

Recently, the departure of former CEO Changpeng ‘CZ’ Zhao seems to have revived interest in the platform, while the anticipation surrounding “Uptober” added further momentum to its download figures.

However, this does not reflect the same level of dominance, which has seen a significant decline. As reported by CryptoPotato, Binance’s spot market share fell to 27% in September, a level not observed since January 2021. The exchange also recorded an almost 23% drop in spot trading volume, which decreased to $344 billion, marking the lowest monthly total since November 2023.