Bitcoin News Update: Bitget’s PoolX Connects Conventional Finance and Blockchain Through BAY Rewards
- Bitget launched PoolX, a VIP program offering BTC locking for 1.32M BAY tokens and 5% BTC interest coupons, with a Nov 8 deadline. - BGBTC, a Bitcoin synthetic asset, was integrated as a margin coin for USDT-M Futures, enhancing trading flexibility for high-net-worth users. - The initiatives align with post-FOMC market trends, as Bitcoin trades near $109K amid Fed rate cuts and regulatory uncertainties. - PoolX's 10%+ APR reflects DeFi yield strategies, but risks persist due to crypto volatility and regu
Bitget has introduced PoolX, a VIP-only program that enables users to lock
Separately, Bitget has added BGBTC—a synthetic Bitcoin asset—as a margin currency in its unified trading account and multi-asset mode for USDT-M Futures, effective November 3 (UTC+8), as detailed in a
Wider trends in the crypto market have been influenced by macroeconomic shifts, such as the Federal Reserve’s recent 25 basis point rate reduction, which lowered the benchmark rate to 4%, according to
The PoolX initiative highlights Bitget’s commitment to boosting user engagement through innovative tokenomics. By linking BTC locking with BAY token rewards, the exchange seeks to drive participation and strengthen its native token ecosystem. The projected annual percentage rate (APR) of over 10% for locked assets is consistent with the broader DeFi trend of yield-generating products, according to Bitget. Nevertheless, users are encouraged to thoroughly assess risks, as cryptocurrency markets remain volatile and subject to regulatory uncertainties.
The debut of PoolX and the rollout of BGBTC come at a time of intensifying competition in the crypto derivatives market. As trading platforms compete for users, advancements in margin trading and token utility are becoming key factors. Bitget’s recent developments also mirror industry-wide efforts to connect traditional finance with blockchain innovations, especially as central bank digital currencies (CBDCs) and AI-powered trading solutions gain momentum, as noted by MarketScreener.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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