Bitget native token price spikes after token merger announcement
Leading cryptocurrency exchange Bitget has announced plans to combine the Bitget Wallet Token (BWB) and Bitget Token (BGB) into a single ecosystem token that will be used by both the decentralized Bitget Wallet and the centralized cryptocurrency exchange.
BGB and BWB are coming together as one unified token: $BGB 🌐
— Bitget (@bitgetglobal) December 26, 2024
Get ready for enhanced utility, Web3 innovation, and real-world use cases that bridge on-chain and off-chain!
Learn more 👇https://t.co/ZWRzCl6DKu
Bitget to combine BWB and BGB tokens
"Across most on-chain scenarios," a press release stated, the unified BGB will power features like multi-chain gas fee payments and Fair Launchpool, and it will integrate with Bitget Wallet. According to Bitget, there are more than 100 million users of Bitget and Bitget Wallet combined.
The company clarified that the exchange rate will be approximately 11.68 BWB to BGB and that the merger will not impact the overall supply of BGB. Tomorrow, December 27, at 4:00 PM China time (UTC+8), Bitget will stop providing BWB-related services.
Boosting a unified onchain environment
Additionally, the company stated that it will be incorporated into major decentralized finance ecosystems and public chains, "enabling on-chain trading services while gradually becoming a core staking asset for mainstream lending and staking protocols." BGB will also be expanded into offline PayFi applications by the company, enabling payments for travel, dining, and shopping.
Bitget native token BGB price increases
As of this writing, BGB has increased by almost 29.63% over the last 24 hours and is currently trading at $7.35, according to CoinMarketCap data.
On the list of the largest cryptocurrencies by market capitalization, BGB is presently ranked 19th. With a 1000% increase in the last year, the token has seen tremendous gains during this bull run. According to CoinMarketCap data, its market capitalization increased tenfold during this time.
Bitget partners with Fiat24 to increase the use cases for Bitget token
Whale Insider.News reported last week that Bitget and Swiss-based Fiat24 announced a strategic partnership to increase the uptake of BGB and establish a global benchmark for the highly liquid token.
The partnership will expand the use cases for cryptocurrencies in more than 65 countries, specifically Bitget token (BGB), Ethereum (ETH), and stablecoins like USD coin (USDC), the report stated. Additionally, it will greatly reduce the gap between traditional and decentralized financial ecosystems.
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