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

The purpose of Bitget wallet and Bitget token integration is to improve user experience and expand application possibilities on both centralized and decentralized platforms.

Bitget, the only ecological token for Bitget exchange and Bitget Wallet, announced that it will merge its wallet with Bitget token. This announcement follows the rapid expansion of the Bitget token (BGB), fueled by its increasing market cap and number of holders.

As of the latest data, BGB’s market capitalization has reached over $9.32 billion and its price has shown a steady upward trend; This reflects increased investor confidence as the token’s price reached an all-time high of $6.82. BGB’s trading volume is around $1.32 billion, up 271% in the last 24 hours, demonstrating its liquidity and strong market activity.

BGB token price chart | Source: crypto.news

Bitget aims to support the continued growth of the ecosystem by expanding BGB’s use cases, strengthening launch pool initiatives, and increasing its presence on both on-chain and off-chain platforms.

Bitget has positioned itself as a leading platform for high-quality projects. Bitget, which offers a wide range of services including pre-market, spot trading, leverage and contracts, currently ranks sixth among global exchanges by total trading volume of almost $5 billion in the last 24 hours.

Additionally, Bitget Wallet, one of the world’s largest Web3 wallets, serves more than 60 million users across the popular Layer 1 and Layer 2 ecosystems. With more than 100 million users in total, Bitget and Bitget Wallet are among the most important players in the cryptocurrency market.

BGB’s integration will further expand on-chain trading by deepening its relationship with popular public chains and leading DeFi ecosystems.

Additionally, BGB will be included in the Bitget Wallet implementation for various on-chain functions such as multi-chain gas fee payments, and will also serve as a staking asset for mainstream lending and staking protocols.

Starting in 2025, BGB will enter the offline PayFi scenario, allowing direct use in real-world transactions such as shopping, dining and even gas payments.

For the merger: Bitget used the 7-day average closing prices from December 19 to December 25, 2024 to calculate the exchange rate between BWB and BGB. BWB/BGB conversion rate was determined as 0.08563; This means users can exchange 100,000 BWB tokens for 8,563 BGB. Importantly, no additional BGB tokens will be issued and the merger will not affect the total issuance of BGB tokens.