to complete the solana to usdt exchange in the Bitget platform, the following process needs to be followed: Users need to top up the SOL first through the fiat gateway or cross-chain top-up. Bitget supports a minimum top-up of 0.01 SOL (approximately 0.25 US dollars) and the time of arrival is approximately 3 to 5 minutes (depending on the high concurrent processing capacity of 65,000 TPS of the Solana network). According to 2023’s figures, Bitget’s mean daily liquidity of its SOL/USDT pair stood at 5 million US dollars with Maker order fee as 0.1% and Taker order fee as 0.2%, which is lower than 0.15%-0.25% in the industry. For example, if a 10 SOL order is sold at market price (assuming the unit price is 25 US dollars), after deducting a 0.2% fee, the amount received is 249.5 USDT, and the slippage risk is less than 0.5% (because the bid-ask spread of the first level of the deep order book is 0.1%).
From a market trend perspective, in the fourth quarter of 2023, the price of SOL rose by 700% on account of an ecological boom, and hence the trading volume of solana to usdt rose by 320% quarter-on-quarter. As one of the top 10 global exchanges, Bitget’s SOL/USDT trading pair supports several order types such as limit, market, and stop-loss. Price fluctuation alert (e.g., ±5% threshold) can be configured by the users. Over 60% of users utilize limit orders to reduce transaction fees, with the mean transaction occurring after 15 seconds (given the Solana network’s block creation speed of 0.4 seconds), according to the platform’s statistics. Additionally, Bitget also offers leveraged trading options (5 times maximum), but take note that forced liquidation will be triggered if the margin ratio is below 50%. Historical data suggest intraday SOL/USDT volatility can reach up to 20% in unfavorable market conditions (e.g., when the 2022 FTX collapse occurred).
In terms of security, 95% of users’ funds are kept in cold storage by Bitget and has also been ISO 27001 certified. There were no instances of coin theft on the platform during Q3 2023. The users who complete the KYC1 certification (only a mobile phone number is required) can withdraw up to 100,000 USDT per day. If you are interested in maximizing your returns, you can pay special attention to the “Quantitative Copy” feature of Bitget. The top 3 traders’ average annual return rate was 185% (Sharpe ratio 2.3) in the SOL/USDT strategy. Reference case: A trader invested 100 SOL periodically at a mean price of 20 USDT during November 2023. With wave trading (holding time average of 7 days), he earned a profit of 1,500 USDT with a return on investment of 75%.
Risk Warning: Solana network was unavailable for 5 hours in January 2024 due to node failure, causing delay in solana to usdt trading. During this period, Bitget suspended deposit and withdrawal temporarily but kept on-exchange trading regular. It is recommended that investors diversify their portfolio in multi-chain wallets (such as Phantom) and observe the volatility of Gas fees (the price of one transaction on Solana is approximately 0.00001 SOL). CoinGecko statistics indicate that Bitget’s SOL/USDT pair saw a 30% increase in liquidity during the Asian trading session (UTC+8), and the spread was minimized to 0.05 USDT, which is suitable for high-frequency trading.