Documentary trading was once very popular in the contract for difference (CFD) market, which also caught the hearts of cryptocurrency users.。

New research conducted by the Bitget exchange shows that investors in the digital asset space are increasingly adopting documentary and social trading。Research shows that Gen Z traders lead the trend, accounting for 44% of all documentary trading users。In addition, traders from Africa and Commonwealth of Independent States (CIS) countries have shown strong interest in。The study assesses the trading activity of a range of active cryptocurrency traders in the first half of 2023, with more than 109,000 traders profiting through documentary trading techniques, with a cumulative gain of more than 74 million USDT.。

Research shows that documentary traders have a high success rate: 93% of futures traders and 82% of spot traders use this strategy to profit.。Bitcoin (BTC) is the most frequently traded asset through documentary transactions (52%), followed by Ethereum (ETH) at 44%。Geographically, the majority of documentary traders are from Western Europe (31%), East Asia (26%) and Southeast Asia (19%).。Despite the small percentage of users in Africa, its interest in documentary trading topped the list, indicating the emerging nature of the cryptocurrency market in the region.。

"These findings indicate overall market sentiment," said Gracy Chen, managing director of Bitget, "using advanced tools, including AI-based tools, to make strategies such as documentary trading convenient and profitable for users without extensive trading knowledge."。"

Research shows that 44% of Gen Z users on Bitget are typically tech-savvy and influenced by social media, followed by those aged 25-35 (32%), 35-55 (17%) and over-55s (7%).。About 72% of traders under the age of 25 mainly use Bitget as a documentary trading platform, compared to 65% in the 55-64 age group, which is more like a community as a whole.。

"Bitget's determination to continue to improve its documentary trading capabilities coincides with the overall philosophy of our 'smart trading" slogan. "。"Chen added。A report from The Insight Partners supports Bitget's findings, predicting a CAGR of 7 for the social trading industry..8% and will reach 37 by 2028.$700 million, up significantly from $2.2 billion in 2021。The growing popularity of documentary trading among cryptocurrency traders suggests that more and more exchanges are beginning to incorporate copy trading into their services.。Earlier this year, the OKX platform provided its global user base with a service to follow other trader positions.。

However, the industry is coming under closer scrutiny from regulators.。In March, ESMA announced its intention to emphasize stronger protection for investors in documentary trading.。This is particularly important given that one-third of investment firms in the Forex / CFD market currently offer such services.。