Bitget Token (BGB) Gains Another Significant Boost as the Cryptocurrency Exchange Merges Two Native Tokens into One

As announced yesterday, the exchange merged Bitget Token (BGB) and Bitget Wallet Token (BWB), retaining only one token, BGB, for its exchange and wallet platform

Bitget Token (BGB) price soared to a new all-time high on Dec. 27 after the cryptocurrency exchange behind it merged two native tokens into one.

The value of BGB surpassed $8.35 per token before experiencing some price corrections. The token began a remarkable rally on Dec. 25, gaining over 138% in the last seven days.

Bitget merges BGB and BWB tokens

As announced on Friday, the exchange merged Bitget Token (BGB) and Bitget Wallet Token (BWB), retaining only one token, BGB, for its exchange and wallet platform.

The exchange stated that this decision was made after receiving strong demand from the community. The Bitget Token was already performing strongly, reaching record highs daily.

The token has gained more than 138% in the last seven days, and its monthly and yearly gains stand at 436% and nearly 1,361%, respectively. Combining the two tokens will further increase the demand for BGB.

The latest rally also pushed BGB's market capitalisation to nearly $11 billion, making it the 19th largest cryptocurrency.

The exchange further explained the process of combining the two tokens. BWB tokens will be converted into BGB at a 0.08563 ratio, calculated using a 7-day average closing price of the BWB/USDT pair on Bitget.

After the swap, all BWB tokens will be burned, and users will receive BGB in their accounts as an airdrop.

“By merging BGB and BWB, we are taking a major step toward building a unified and robust ecosystem that bridges on-chain and off-chain applications,” said Gracy Chen, CEO of Bitget.

“This move will enhance the utility of BGB and ensure that every holder benefits from the growth of the Bitget ecosystem.”

Bitget is one of the leading cryptocurrency exchanges, offering spot and derivatives trading. According to the exchange, its wallet platform has over 60 million users globally. Combined, the exchange and wallet platforms have over 100 million users.

“As the crypto market matures, only the most resilient assets with strong ecosystems and real-world utility can thrive through cycles,” Chen added.

“BGB, ranked among the top 30 tokens, has established itself as a leading utility token with exceptional liquidity and a strong community. This merger will enhance BGB’s role within Bitget’s ecosystem and create new opportunities for exploring the decentralised world.”

$BGB hits yet another ATH! 🚀 pic.twitter.com/efJmsqMT9g

Bitget entered El Salvador

Recently, Bitget also secured a Bitcoin Service Provider (BSP) licence from the Central Reserve Bank of El Salvador. This licence will allow the exchange to offer fiat-to-Bitcoin exchanges, payment solutions, and custody services in the country.

The exchange is also awaiting approval for a digital asset service provider licence from El Salvador's National Commission of Digital Assets. This licence will allow Bitget to offer other cryptocurrencies in addition to Bitcoin.

Operating from its headquarters in the Seychelles, Bitget is expanding its presence in the European Union. It holds licences in Poland and Lithuania as a virtual asset service provider and is considering establishing a European base to comply with MiCA regulations.

In addition, Bitget resumed operations in the United Kingdom last month after temporarily halting services in May to ensure compliance with local regulations.