Bitget UEX: Crypto Trading Share Drops to 60–80% as Gold Hits 40%

More than half of users holding equities confirms that embedded stock trading features inside crypto apps are gaining real traction. Several major exchanges rolled out fractional equity trading and commodity CFDs over the past 18 months. The UEX numbers show users are actively using those rails, not just activating them for a sign-up bonus.

A trader who generates 50% of their volume in equities delivers a different lifetime value than a pure crypto trader. Deposit bonuses, affiliate payouts, and liquidity provider agreements all recalibrate when the product mix shifts. Equities also introduce regulatory overhead that crypto often sidesteps, from custody rules to margin requirements. For a platform that built its cost structure on high-frequency crypto derivatives flow, the migration rebalances unit economics.

The sequence matters. The UEX data arrives after a period when crypto market analysis shows retail participation patterns shifting before institutional flow does. If the same cohort begins to unwind equity and commodity positions during a risk-off event, the selling could feed back into crypto through margin calls, especially among users who cross-collateralize across asset classes on the same platform.

The Fee Compression and Liquidity Management Equation

The simple read is that retail traders are diversifying. The better market read is that fee generation across crypto-native platforms faces a structural challenge. When crypto trades drop from 95%–100% of a broker’s mix to 60%–80%, the revenue model shifts. Equities and commodities carry tighter spreads, and the net interest income from margin changes. Exchanges that operate as quasi-banks in off-chain settlement will need to hold a wider inventory of assets to support the broadening mix. That can introduce new capital charges if regulators treat equity custody differently from crypto custody in certain jurisdictions.

For traders tracking the rhythm of best crypto brokers, the UEX findings provide an early-warning signal. A second quarter where crypto’s trading share hovers near 60% would likely force more exchanges to announce multi-asset licensing moves or restructuring of trading-fee tiers. The follow-up UEX data, expected later in the year, will show whether the shift was a cyclical rotation or the start of a permanent reallocation that permanently alters the competitive landscape for crypto-first platforms.