Crypto Exchange Bitget Joins Meme Coin Hype, Issues Token That Rises 14,000%

Asia Insider — Wed, 03 Apr 2024 15:34:40 +0000

The token’s rise comes alongside a wave of trading volume.

A meme coin issued by cryptocurrency exchange Bitget has surged by more than 14,000% to a $31 million market cap hours after being released.

The ticker for the token, which was issued on Base network, is MOEW, and it is currently trading at $0.0028 on the back of $34 million worth of trading volume, CoinMarketCap data shows. 11,700 individual wallets currently hold MOEW, according to Basescan.

“Just for funsies, nothing too serious. We wanna see what the power of memes can do,” Bitget wrote on social media platform X.

Base is rapidly emerging as a leading venue for meme coin traders as it attempts to steal the thunder from Solana, which has been the primary blockchain for memes so far in this bull market cycle.

The largest meme coin on Base is Brett (BRETT), a token that is based on a character from Matt Furie’s Boy’s club comic. Brett has increased in value by 89% in the past week, while MOEW has already recorded double the volume Brett has racked up in the past 24 hours.

Meme coins are volatile assets by nature as they have no underlying value or utilities. Several meme coins like WIF have achieved a market cap of above $1 billion in the past year, while many others have petered out to zero amid a wave of rug pulls.

Source: Vietnam Insider

Crypto Exchange Bitget Opens Dubai Office, Plans Middle East Expansion

Asia Insider — Thu, 20 Jul 2023 10:20:17 +0000

The crypto trading platform plans to hire up to 60 new members of staff in the region.

Crypto trading platform Bitget plans to expand into the Middle East and hire up to 60 new members of staff, the company said on Thursday.

The company said it has already opened an office in downtown Dubai to support the expansion, and will explore opportunities in Bahrain and the United Arab Emirates (UAE). It also foresees setting up a regional headquarters.

Bitget said it has started recruiting for the new roles, with several members of staff already hired for middle- and back-office positions.

“We hope to scale our Middle Eastern team rapidly to support business growth, with between 30 to 60 hires over the next two years,” Gracy Chen, managing director, said in a statement.

The company has already started exploring license applications in order to operate in Middle Eastern markets. The expansion follows Biget’s launch in Turkey earlier this year.

In May, the crypto exchange said it was joining crypto custody firm Copper’s ClearLoop network, allowing clients of both companies to hold digital assets within Copper’s infrastructure while at the same time delegating those assets to trade on the exchange.