The Bitget Token has bucked the wider cryptocurrency market to rally 30% in the last 24 hours to $7.54. The surge follows an announcement of a token merger by the exchange. The platform said it would merge its wallet token, BWB, into BGB. Post-merger, BGB becomes the single token for the ecosystem of both the exchange and Bitget Wallet.
The exchange, in their blog, highlighted that in the last year, BGB has seen its own growth. The token had been expanding its use cases and gaining more support via Launchpool initiatives. It will work on aligning on-chain and off-chain functionalities to give BWB holders access to the greater ecosystem.
Bitget is within the top three exchanges by trading volume globally. The exchange offers a complete suite of services, including spot, margin, and futures trading.
Bitget wallet boasts over 60M users globally
Meanwhile, Bitget Wallet has grown to become one of the most used Web3 wallets globally, boasting over 60 million users. In aggregate, both platforms support more than 100 million users worldwide, second only to Binance.
This places the merger with BGB at the cornerstone of the ecosystem. It will be integrated into major public chains and DeFi protocols to power staking and on-chain trading. Inside Bitget Wallet, BGB powers feature like Fair Launchpool participation and multi-chain gas payment.
In 2025, the exchange will extend the BGB offline application: PayFi solutions will be allowed for dining, traveling, and retail in users’ real lives, thus creating seamless interaction in Web3 finance. However, the exchange sees resilience as the crypto market develops.
