Bitget Integrates Wallet with BGB and BWB Tokens, Prices Surge
Bitget, a prominent cryptocurrency exchange, is integrating its wallet with its native cryptocurrency Bitget Token (BGB). The integration aims to enhance BGB’s utility both on-chain and in real-world applications, supporting the ecosystem's growth. This follows a significant increase in BGB’s market value and a growing number of token holders.
The merger between Bitget Wallet Token (BWB) and BGB plays a crucial role in this integration. An exchange rate of 0.08563 has been established, allowing users to convert 100 BWB tokens into 8.563 BGB tokens. No additional BGB tokens will be issued, maintaining the total supply.
The announcement positively impacted the market, with BGB and BWB experiencing sharp gains. BWB's value rose over 34% to around $0.56, while its 24-hour trading volume increased by 320% to $28.4 million. BGB saw a 20% rise, trading at $6.82, with a market cap of $9.54 billion.
Strengthening On-Chain and Real-World Utility
Bitget has ambitious plans for BGB’s integration, which includes multi-chain gas fee payments and staking in mainstream DeFi protocols. The wallet integration will enhance BGB’s involvement with popular public chains, expanding its trading capabilities.
Starting in 2025, Bitget intends to extend BGB’s utility to offline PayFi scenarios for real-world transactions such as shopping, dining, and fuel purchases.
Recently, Bitget announced a strategic partnership with Swiss-based Fiat24 to boost BGB adoption and establish a global standard for the token with deep liquidity.
BGB currently ranks 19th among the largest cryptocurrencies by market cap, having gained 1000% over the past year, resulting in a ten-fold market cap increase, according to CoinMarketCap data.
Bitget is recognized as a leading platform for quality crypto projects, ranking sixth globally by total trading volume with over $5 billion in trading activity within the last 24 hours. Bitget Wallet serves over 60 million users across various ecosystems, becoming the second most downloaded crypto app globally after Binance.
The merger represents a strategic milestone for BGB’s rising prominence and Bitget’s expansive ecosystem.