Explore Bitget’s top European tokens, excluding Bitcoin and Ethereum, revealing a surprising FOMO in the memecoin sector.
Without taking into account the market leaders, Bitcoin and Ethereum, this article lists the top tokens traded on Bitget in Europe during the past week by traders who have either a KYC or an IP address registered there.
We may view all the information about the cryptocurrencies with the highest trading volumes within the Union between November 8 and November 14 in a report that was supplied by the same exchange.
The results are really intriguing because they demonstrate that there is a significant FOMO regarding the memecoin industry.
It’s also important to note that the BGB token has experienced sharp price gains over the last two years, hitting a new all-time high just two days ago, despite not being included in the top crypto assets traded in Europe.
The top ten tokens traded in Europe during the past week on Bitget, excluding Ethereum and Bitcoin
Yesterday, Bitget released a study outlining the top tokens exchanged by European traders throughout the previous seven days.
Since Bitcoin and Ethereum are the two most valuable cryptocurrencies in the market, they will not be discussed here as they uniformly represent the most traded cryptocurrencies on any platform.
Instead, we’ll focus on other cryptocurrencies with large Bitget trading volumes that have captured users’ attention.
On Sunday, November 12, the memecoin ORDI had a spot trading volume of $44 million after a 200% price spike in 7 days.
The coin’s hopeful price surge inspired European traders to hold prolonged trading sessions on November 9, 10, and 11, completing $87 million in trades.
On Monday, November 13, Celestia’s TIA token volume was $31 million, ranking second.
TIA’s price explosion spurred huge European transactions again. Special attention was paid to the cryptocurrency’s +25% rise last Saturday. Volumes dropped sixfold the day before.
PEPE is the last memecoin honoured. Bitget completed the previous week with $48 million in sales amid the market upswing, with demand peaking on Friday, November 10.
TRB and AVAX, which have each touched the $10 million volume threshold at least once in the past week, come in fourth and fifth position, respectively.
Conversely, DOGE and ADA, which had more modest trading activity, yet had trading volume over $20 million apiece, come in sixth and seventh place.
LTC, LDO, and ARB round out the list of the most traded tokens on Bitget in Europe; it’s important to highlight that all three have had a notable rise in market volumes since November 8.
Bitget: cryptocurrency BGB market analysis
The Bitget ecosystem’s native cryptocurrency, the BGB token, has traded for $1.1 million on its exchange in Europe in the past week.
In any case, this coin has demonstrated its full potential over the last two years, increasing in value by nearly eight times during the down market!
In November 2021, BGB was only valued at $0.065 per unit; today, it is valued at $0.53, with a $689 million market capitalization.
Bitget’s token just hit a new all-time high of $0.58 two days ago, before bending slightly lower to its present levels.
Even though the RSI is becoming overbought, BGB’s short-term price action seems hopeful.
Cryptocurrencies may surge above $0.5.
On November 13, Bitget’s BGB-USDT spot volume, which includes global and European trades, reached $50 million.
However, on November 7, the $100 million mark was exceeded, showing that the recent upsurge has been accompanied by major buying and selling.
The major players in the cryptocurrency exchange market are starting to recognise and appreciate the Bitget brand.
Community-focused projects and onboarding efforts have increased platform activity and value.
Since exchange users value the BGB token more, this has boosted it. The coin can be used to earn trading cost refunds, bet for a yield, or initiate new projects.
Bitget is still far behind Binance and Coinbase, but its recent growth implies it will catch up.
A company that evolves as swiftly as bitcoin exchanges has endless opportunities. BGB and its native platform are fascinating ecosystems to watch before the next bull run, which may occur following Bitcoin’s halving.
