Foresight X And Bitget Wallet Partner To Invest In Tomarket Trading Platform
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Bitget Wallet and Foresight X are teaming up to invest in Tomarket, a new trading platform. Both entities want to focus on new kinds of assets and make the wallet offer more than just regular decentralized exchanges (DEXs).
According to the press release, Tomarket, made by experts from Microsoft and Binance, wants to look at markets that regular DEXs still need to look at. The platform lets users trade swap crypto asset yields and real-world assets and trade crypto points and pre-TGE assets. This makes it easier to trade and find out how much these sectors are worth.
Bitget Wallet Aims To Enhance Accessibility And Efficiency In Trading
Tomarket is launching in July. At first, it will be on Telegram like a mini-app, providing an entry point for early users. This new development happens during a time of big growth in the crypto industry in 2024, thanks to the Bitcoin halving and the SEC giving the go-ahead to the Bitcoin ETF.
Alvin Kan, the Chief Operating Officer of Bitget Wallet, stated that trading has always been central to the crypto industry. Besides traditional token assets, new types of assets like RWAs and points should be given significant attention.
Recently, there has been an increase in new types of assets, such as trading points for crypto projects and tokens users can buy before they officially start being used. These assets have challenges like needing to be easier to sell quickly and costing a lot for secure transactions. Tomarket plans to create a complete platform where people can trade these new assets easily and in one place.
Bitget Wallet And Tomarket Wants To Expand Services Within The Cryptocurrency
Earlier this year, Bitget Wallet launched the Bitget Onchain Layer, a tool meant to help users navigate the Web3 system. Tomarket is the first partner in this ecosystem and is expected to integrate deeply with Bitget Wallet, expanding the use of BWB, the wallet’s native token.
Bitget Wallet provides various services, such as dealing with NFTs, trading swaps, and handling assets. It supports 250,000, and cryptocurrencies work with more than 100 main blockchains.
Bitget’s trading activity has been on the rise lately. It reported a 100% increase in both spot and futures trading volumes from the last few months, and its own token, BGB, also saw a big price increase.
Bitget’s futures trading amount went up a lot, almost reaching $1.4 trillion, which is 146% more than before. The exchange had the biggest share of the market in derivatives, growing by 2.4% in March. Spot trading also increased a lot, by 113%, to over $60 billion in the first part of 2024.
