Bitget announces the merger of BWB and BGB tokens to strengthen ecosystem

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As a seasoned analyst with years of experience navigating the ever-evolving world of cryptocurrency, I find myself consistently impressed by Bitget’s strategic moves and ambitious growth plans. The integration of the Bitget wallet and token is a testament to their commitment to enhancing user experiences while expanding application possibilities on both centralized and decentralized platforms.

By combining Bitget wallet functionality with Bitget tokens, we aim to enhance user interaction and expand the range of potential uses, whether on traditional centralized systems or cutting-edge decentralized platforms.

In a recent announcement, Bitget has revealed plans to merge its wallet with the Bitget Token, making it the sole ecological token for both the exchange and wallet. This decision follows the impressive growth of the Bitget Token (BGB), driven primarily by an increase in market value and the growing number of holders.

Based on recent figures, the market capitalization of BGB has surpassed $9.32 billion, demonstrating a consistent upward price movement that coincides with an all-time high of $6.82. This growth indicates increasing investor confidence in the token. Moreover, the trading volume for BGB stands at approximately $1.32 billion, representing a significant 271% increase over the last day, underscoring its liquidity and robust market activity.

Bitget aspires to foster ongoing development within the ecosystem by expanding the applications of BGB, boosting the impact of launch pool projects, and amplifying its presence on both digital (on-chain) and traditional (off-chain) platforms.

Bitget stands out as a premier platform for top-tier projects, providing diverse services such as pre-market deals, spot trading, margin trades, and contracts. Currently, it ranks sixth among global exchanges based on daily trading volume, which amounts to nearly $5 billion in the last 24 hours.

Furthermore, Bitget Wallet, a leading Web3 wallet worldwide, caters to more than 60 million users spread across prominent Layer 1 and Layer 2 networks. With a combined user base of over 100 million people, both Bitget and Bitget Wallet hold substantial influence in the cryptocurrency industry, placing them among the major players in this market.

By integrating BGB, we can broaden the scope of on-chain trading as it strengthens connections with well-known public blockchains and prominent decentralized finance (DeFi) networks.

Additionally, BGB will be integrated into the Bitget Wallet app for multiple on-chain tasks like handling gas fees across different chains, and it will also function as an asset for mainstream loaning and staking platforms.

From 2025 onwards, BGB will step into the offline PayFi situation, making it possible for real-life applications such as shopping, dining, or even fuel purchases, to be carried out directly.

To determine the exchange ratio during the merge: Bitget took the average closing prices from December 19 to December 25, 2024, for a period of seven days, to calculate the conversion rate between BWB and BGB. The equivalent value for exchanging BWB tokens is set at 0.08563 BGB, meaning that users can swap 100,000 BWB tokens for approximately 8,563 BGB. It’s important to note that this process does not create any new BGB tokens, and the merger will have no impact on the total supply of BGB tokens available in circulation.

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2024-12-26 13:20