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Home»EXCHANGE NEWS»Bitget Integrates BWB and BGB Tokens: Enhances Utility and Adoption
EXCHANGE NEWS

Bitget Integrates BWB and BGB Tokens: Enhances Utility and Adoption

By Crypto FlexsDecember 26, 20242 Mins Read
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Bitget Integrates BWB and BGB Tokens: Enhances Utility and Adoption
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Cryptocurrency exchange Bitget recently announced the merger of Bitget Wallet Token (BWB) and BGB token, establishing BGB as a unified ecosystem token for both exchanges and wallets. The main goal of this move was to streamline the token economy, reduce fragmentation, and strengthen the overall ecosystem.

Bitget announces merger

This announcement had a significant impact on the price of the BGB token. The BGB token experienced a significant surge and its trading volume surpassed Binance’s BNB token. As of press time, the token price is $6.85, up 22.3% in the last 24 hours.

Bitget BGB 24-hour chart
BGB 24-hour chart (Source: CoinGecko)

Key details of BitGet merger

Automatic Merge: For Bitget platform users, automatic conversion will occur based on the exchange rate calculated from December 19th to 25th (100,000 BWB = 8,563 BGB).

Burning BWB: All BWB tokens will be burned after the merger, and locked BWB will be converted to BGB when unlocked.

No inflation: The total supply of BGB will remain unchanged, so no new tokens will be minted.

For Bitget Wallet users, manual conversion will be required on-chain before 08:00 UTC on December 27. This ensures smooth transactions and access to integrated token benefits.

market reaction

The community expressed optimism about this move. One of the X users said, “Smart integration move by Bitget. Merging BWB into BGB creates a stronger unified token economy and reduces fragmentation. The volume surge beyond BNB is impressive, but we’ll see if it lasts.”

In the current scenario where the cryptocurrency market is highly saturated, Bitget has not only simplified the token structure by consolidating the ecosystem under one token, but has also positioned BGB as a more competitive and attractive asset for traders and investors.

As the user rightly points out, the initial optimism is evident and token growth initially looks promising, but the key question is whether BGB’s impressive trading volume and price momentum will be maintained over the coming weeks.

Also Read: High Volatility Expected as $17.8 Billion Bitcoin and Ethereum Options Expire Tomorrow

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