Why are cryptocurrency traders in Latin America stampeding to Bitget?
After the setback experienced by the cryptocurrency market that took Bitcoin to the $25,000 area, the market started to react and at the time of writing this post the price is already close to reach the $26,000 area again.
Now, beyond the recovery of the cryptocurrency price and in correspondence with the information disclosed by Ana Paula Pereira cryptocurrency Holders in Latin America are flocking to Bitget after the lawsuits against Binance and Coinbase.
It stated that compared to daily averages, new users in the region increased by 43% from June 6 to June 9, with Brazil and Argentina leading the market share growth.
According to the exchange, new clients in Brazil soared 54%, with a 208% jump in total deposits. In Argentina, its client base grew by 33%, while deposited funds increased by 87%.
The figures are explained by recent developments in the United States. On June 5, cryptocurrency exchange Binance was sued by the U.S. Securities and Exchange Commission on 13 counts, including alleged sale and offering of securities, failure to register as an exchange or broker, and commingling of funds
SOURCES CONSULTED
Cointelegraph. Latam crypto holders flock to Bitget following Binance, Coinbase suits. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: Cointelegraph
Traders are busy looking at what favours them in the market looking at how SEC chooses to pressure binance and Coinbase a more fertile environment is need to trade thanks for the share.