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The Bitget Wallet, a Web3 cryptocurrency wallet owned by the Bitget exchange, has surpassed its major competitor MetaMask in downloads. According to data from the blockchain analytics platform CryptoRank, Bitget Wallet reached 1.6 million downloads in July 2024, outpacing MetaMask by 100,000 downloads.
What Drives Bitget Wallet’s Popularity?
Among the top 10 wallets by download numbers, Phantom Wallet followed with 667,000 downloads, Coinbase Wallet with 475,000, and SafePal, supported by Animoca Brands, with 157,000. Bitget’s Chief Operating Officer, Alvin Kan, attributes this rapid growth to the increasing on-chain transactions seen throughout 2024, particularly from memecoin projects. Additionally, he noted that Bitget Wallet being one of the first to fully support The Open Network (TON) gained many users from the TON ecosystem. Access COINTURK FINANCE to get the latest financial and business news.
How Did TON Boost Bitget Wallet?
In July 2024, the TON network surpassed other ecosystems like Polygon, Arbitrum, and BNB Chain in transaction volume on Bitget Wallet. Kan also mentioned the launch of Bitget Wallet Token (BWB) in March 2024 as a significant growth driver. Since its introduction, the user base increased by over 50% to 30 million, fueled by participation in governance, staking, and airdrop events.
Key Takeaways for Users
Actionable Insights
- Bitget Wallet’s support for TON has been a key differentiator.
- The launch of BWB token significantly boosted user engagement and transaction volume.
- Focusing on mobile experience has attracted users preferring mobile over desktop wallets.
- High growth in specific markets like Japan and Nigeria highlights regional adoption trends.
Kan added that the BWB launch also contributed to higher transaction volumes and increased user interaction, particularly in important markets like Japan and Nigeria.
Details on the Subject
Data indicates that Bitget Wallet now serves users from over 186 countries and regions, actively gaining new users across all continents, including Asia, Europe, America, Africa, and Oceania. Italy, Australia, and Sweden were the fastest-growing countries in terms of downloads in the first half of 2024, with increases of 7,500%, 5,300%, and 5,200%, respectively. Other rapidly growing markets included the Philippines, Russia, and Japan, with growth rates of 4,600%, 4,400%, and 2,100%, respectively. Kan emphasized the importance of the mobile experience to encourage mass adoption among Web3 users who prefer mobile wallets over desktop browser extensions.