Crypto
Bitget Protection Fund Reaches New Heights as Bitcoin Rallies
Bitget's Protection Fund has seen significant growth in August, thanks to Bitcoin's upward momentum. According to the exchange's latest report, the fund averaged $382 million in value throughout the month.
The highest valuation reached was $441.5 million on August 27, while the lowest point was $345.3 million on August 1. The fund maintained a valuation above its initial commitment of $300 million, with support from Bitget's 5,500 BTC holdings.
Bitcoin experienced a surge in price during August, rising from $62,773 on August 1 to $78,553 on August 31 - an increase of over 25%. This appreciation contributed to the higher valuation of Bitget's Protection Fund, which ended the month at approximately $432 million.