BGT Token Price Soars After the Announcement of BWB-BGB Merger

The prominent cryptocurrency exchange Bitget recently announced plans to integrate the Bitget Wallet Token (BWB) and the Bitget Token (BGB)

Prominent cryptocurrency exchange Bitget has announced plans to integrate the Bitget Wallet Token (BWB) and the Bitget Token (BGB), creating a unified environment for all of its customers.

Motivated by suggestions from the community, the strategic move will see both tokens unified under the BGB banner, enriching their functionality within the blockchain and decentralized finance (DeFi) spheres.

The BGB token will be utilized by exchange and wallet applications within the Bitget ecosystem without hassle following the merger. The company will increase the utility of BGB through the release of services involving lending, staking, and on-chain trading across multiple blockchains.

The move saw the company's shares rally by over 25% after the announcement, trading at $6.98. Meanwhile, the market capitalization reached $9.77 billion with a trading volume of an astonishing 182% by yesterday's close at $1.35 billion. This defies a broader market downtrend and reflects investor confidence in the potential for the merger.

BGB Token Price Soars After the Announcement

The strengths of this merger lie in the synergy between Bitget, a prominent figure in the Web3 sector, and the BGB token, which is ranked 19th on CoinMarketCap.

In essence, Bitget aims to improve the user experience and elevate BGB to become one of the top assets within DeFi, encouraging further innovation and increased adoption in decentralized finance.

Gracy Chen, Chief Executive Officer of Bitget, highlighted the extraordinary success of BGB, which saw an impressive 750% growth in market capitalization in 2024.

“The BGB-BWB merger is a crucial step toward unifying our ecosystem and expanding BGB’s value. This integration benefits every token holder and enhances our presence in both DeFi and real-world applications,” Chen declared.

Following the merger, BGB will become an essential tool for using decentralized applications (DApps), staking within lending protocols, and enabling services such as Fair Launchpool and multi-chain gas payments via Bitget Wallet.

Additionally, real-world use cases are in development, which includes Web3 PayFi services for dining, traveling, and shopping.

The transition process will include automatic exchange operations for holders of BWB, with the conversion ratio being 0.08563 BGB per BWB.

Following the exchange operation, the system will burn all BWB tokens, and holders will receive an equivalent amount of BGB for the BWB they exchanged.

The platform will close all BWB-related trades and services on December 27.

Ultimately, these developments showcase the crypto space's progression toward the most resilient tokens within the best ecosystems. Such a merger positions BGB as a leading utility token, opening up greater adoption and avenues in DeFi and beyond.