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Breaking Boundaries: LBank Achieves “Leaps and Bounds” Growth in Q3

Singapore, Singapore, 10th October 2024, Chainwire

CryptoFortress

Oct 10, 2024 - 17:40

Breaking Boundaries: LBank Achieves “Leaps and Bounds” Growth in Q3

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Singapore, Singapore, October 10th, 2024, Chainwire

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In a vibrant and competitive third quarter, LBank has successfully achieved its short-term goal of dynamic growth. From a million-dollar airdrop celebration for its anniversary to the meme festival at TOKEN2049 in Singapore, LBank is evolving in many ways.

During Q3, LBank continued to expand its market share, surpassing 12 million registered users and daily trading volumes exceeding $2 billion, with a year-on-year increase of 16% in new user registrations. The platform introduced 66 new assets in the third quarter, marking a period of rapid development.

Looking ahead to Q4, LBank plans to further enhance its marketing efforts and brand expansion, seeking out new growth opportunities while continuing to increase its market share.

Anniversary Celebration Transforms Market Landscape, Driving Strong Growth Amidst Challenges

In Q3, LBank continued to roll out exclusive benefits through its Airdrop initiative, collaborating with 181 projects to distribute up to $10 million in user rewards. As of September 30, they successfully delivered airdrop benefits to 650,000 users.

In mid-August, LBank kicked off their ninth anniversary celebration, officially launching their “Asset Listing Expansion” strategy. This strategic plan operates in two-day cycles, allowing them to adjust asset allocations and optimize their portfolio effectively. During this period, LBank hosted over five major events, with rewards including $1 million in prizes and a limited-edition Porsche Macan 4 Electric. These exciting activities drew nearly a million participants, with more than 500,000 new users joining the community and over $50 million in net inflow.

As of September 30, LBank has reached a significant milestone, boasting over 12 million registered users and daily trading volumes exceeding $2 billion. The newly launched assets have delivered an average return of 130%, while their new user registrations have seen a year-on-year increase of 16%.

Focusing on Liquidity: Bridging the Value Gap Between Narrative-Driven Tokens and Memecoins

In Q3, LBank adopted a dynamic and flexible listing strategy, successfully launched 66 new assets, with 50 of them categorized as meme assets, accounting for 75.76% of the total. The newly listed tokens achieved an average peak increase of 1,135.94%, featuring high-performing meme assets like NEIRO, MOODENG, MIGGLES, FIGHT, and FWOG, all of which experienced gains.

LBank Labs has been actively engaged in uncovering high-quality assets this quarter, focusing its investments on Layer 1 infrastructure like Monad, L2 chain service providers such as Rome, and liquidity staking protocols like KINTSU. This strategy emphasizes robust underlying logic and embraces a shift towards fundamentals.

Additionally, LBank has collaborated with several partners, including IOSG, ArkStream, HTX, and the venture capital firm Interop, to explore new growth opportunities in the future market. They are also actively fostering ecosystem partnerships with public chains like Avalanche, TON, and Solana, continuously driving industry development and supporting developer initiatives.

Tuning into Market Trends: Connecting with Market Hot Spots

In Q3, LBank actively participated in global industry conferences, continuously expanding its presence in markets like Dubai, Singapore, Africa, and Southeast Asia. At TOKEN2049 in Singapore, they hosted or co-sponsored nearly 10 side events, discussing hot topics such as AI, DePIN, TON, RWA, and MEME. These discussions also explored sustainable business models and strategies for navigating away from false booms to meet genuine product demands.

In South Korea, LBank Labs collaborated with Mask and the TON ecosystem to launch the IXO 2024: Ultimate Web3 Roadshow. Additionally, LBank Labs joined forces with iAON and Ark of Panda to host the seventh 13Desk Meet Up in Seoul, fostering close connections with top venture capitalists, KOLs, and local communities.

During TOKEN2049 in Singapore, LBank partnered with Shiba, Babydoge, and Saitachain to throw the “Meet Your Meme” party, which attracted over 3,000 attendees. This event further showcased the cultural creativity and community spirit behind memecoins.

During this period, LBank’s Community Angel Officer, Eric He, remarked that as a representation of the current attention economy, memecoins embody an early form of SocialFi. These symbols, which express cultural identity and a new generation of narrative spirit, are here to stay and will continue to elevate market sentiment to new heights. As one of the first exchanges to track and list meme assets, LBank will serve as a capture point for MEME Alpha assets, attracting more users to engage in asset trading.

Steady Compliance Process: Advancing Globalization Efforts

In the realm of compliance, LBank made significant strides in Q3, obtaining the MTL license in Alabama and receiving written confirmations from multiple states to operate exchange services in the United States. Through these compliance initiatives, LBank has further solidified its market position in the region, providing services to both retail and institutional investors.

As of September 30, LBank has secured financial regulatory licenses from several countries and regions, including the MSB in the United States, the MSB in Canada, the VASP in Italy, and various licenses in Australia. With the ongoing progress of its global compliance efforts, LBank continues to expand its influence across different markets, striving to establish a more secure foothold in the future of the crypto market.

Q4 Outlook

As the cryptocurrency supercycle progresses, LBank is extending its focus from market liquidity to real user needs and innovations aimed at establishing a new framework for crypto trading. They will launch a more comprehensive and diverse marketing strategy that includes increasing brand visibility, optimizing asset allocations, and continuing to strengthen their leading position in global markets.

At the same time, LBank will maintain their global compliance efforts, making strategic adjustments based on different cultural and regulatory environments. This includes formulating and implementing effective global and regional strategies tailored to local markets as they enter a new phase of growth.

About LBank

Founded in 2015, LBank is a leading global cryptocurrency exchange, serving over 12 million users worldwide. With a strong commitment to security, innovation, user satisfaction, and community involvement, LBank provides a smooth trading experience across 700+ cryptocurrencies and 836 trading pairs. Known for its deep connection to meme culture and the memecoin community, LBank has become a preferred platform for crypto enthusiasts.