Bitget Token (BGB) Surges 29% in 24 Hours as Bitcoin (BTC) Nears $100K

Cryptocurrency exchange Bitget’s native token, BGB, enjoyed a 29% price increase on Thursday, reflecting a sustained momentum for the token.

Over the past 24 hours, BGB price experienced a low of $4.87 before reaching a high of $6.32. At press time, the token continued to trade near the upper range.

The latest price surge follows a broader uptrend for BGB, with the token displaying a 47% price increase over the past week. Notably, BGB price also enjoyed a surge of 291% over the past month, while prices over the past year reflect an increase of 972%.

BGB price enjoyed a surge of 29% on Thursday.

Relative to the broader cryptocurrency market, Bitcoin (BTC) price enjoyed a surge to nearly $100,000 during the Christmas festivities. At press time, BTC price hovered around $99,000.

Meanwhile, BTC price surged to a high of $99,884.57 on Thursday morning.

BGB price surge influenced by BTC price, Bitget partnership

The latest rally for BGB price could be attributed to several factors, including the surge in BTC price.

Moreover, Bitget recently announced a partnership with Fiat24, a Swiss-regulated FinTech firm that offers blockchain-powered banking solutions.

The partnership will see the parties work together to develop PayFi solutions for major cryptocurrencies, including ETH and BGB, in addition to stablecoins such as USDC.

The aim is to bridge TradFi and DeFi to offer customers a seamless, cheap, efficient and secure payment platform.

Specifically, Bitget Pay offers clients access to low fees and real-time crypto payments, while Bitget Card users can convert their crypto assets into fiat for real-world transactions using commonly accepted debit cards.

Fiat24, on the other hand, provides a crypto-friendly Swiss offshore bank account that comes with a Mastercard debit card, offering international coverage in 65 countries and territories.

“We are excited to collaborate with Fiat24 to advance crypto payments and simplify access to financial services for users worldwide, especially the unbanked,” said Gracy Chen, CEO of Bitget.

“PayFi will be one of Bitget and BGB’s long-term strategies and a key approach to enhancing the real-world impact of crypto assets.”

“Together with our partners, we envision a future where crypto payments become the norm,” Chen added.