- Bitget exchange announced the merging of Bitget Wallet token (BWB) and Bitget token (BGB).
- BGB token price is trading at $6.98, surged by around 25% after the announcement.
Bitget crypto exchange recently announced the merger of Bitget Wallet token (BWB) and Bitget token (BGB) today to create a unified token ecosystem. After strong community recommendations and to offer the benefits of the ecosystem to community members, the exchange took the decision to merge the two tokens. Following the announcement, BGB token price surged by over 25%.
As per the official announcement from Bitget today, a strategic merge of BWB and BGB tokens will take place to streamline the token ecosystem. Post merger, BGB will be the unified token ecosystem for both Bitget exchange and Bitget wallet. As a result, it will act as a foundational token for its on-chain applications.
Furthermore, BGB token will also be integrated into blockchain and DeFi ecosystems. The exchange also plans to enhance token use cases across the broader DeFi space. Starting with on-chain trading services, BGB will become one of the leading assets for lending and staking DeFi features across several blockchains.
BGB Token Price Surged by 25% Following the Bitget Merger Announcement
BGB Token Price (Source: CoinMarketCap)
While the crypto market is witnessing price declines, BGB token price is increasing thanks to the merger announcement. The BGB token price surged by more than 25% after the merger announcement and it is trading at around $6.98 at press time. Its market cap is $9.77 billion while the trading volume surged by a staggering 182% and is hovering around $1.35 billion.
Bitget wallet is already one of the leading Web3 wallets in the industry. On the other hand, Bitget’s BGB token is ranked 19th on crypto aggregator platform CoinMarketCap. With the merger of these two leading projects, Bitget aims to enhance user experience and offer more features, making the BGB token one of the leading tokens across DeFi platforms.
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