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Victoria, Seychelles, December 26, 2024 (GLOBE NEWSWIRE) – PetgateWeb3, a leading cryptocurrency exchange, has announced the merger of its premium digital currencies, Bitget Token (BGB) and Bitget Wallet Token (BWB). The move, driven by strong community demand, aims to unify the two tokens into a single ecosystem token, BGB, which will serve as the ultimate utility token for both Bitget Exchange and Bitget Wallet.
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As one of the fastest growing central exchanges (CEXs), Bitget ranks among the top three exchanges globally by trading volume, offering a comprehensive range of pre-market, spot, margin and futures trading services. Bitget Wallet is one of the largest Web3 wallets globally, with over 60 million users and is widely adopted across leading tier 1 and tier 2 ecosystems. Together, Bitget and Bitget Wallet now serve over 100 million users worldwide, securing their position as the second largest CEX ecosystem globally.
“BGB has had an incredible year, increasing its market capitalization by more than 750%, making it the best-performing CEX token in 2024. This success is supported by strong community support and growing demand for BGB across different use cases.” Gracie Chen, CEO of Bitget, commented: “By merging BGB and BWB, we are taking a big step toward building a unified and robust ecosystem that connects on-chain and off-chain applications. This move will enhance the utility of BGB, and ensure that every holder benefits from the growth of Bitget’s ecosystem.”
Through the merger, BGB will become the unified token driving the growth of the Bitget ecosystem. It will be deeply integrated into decentralized applications (DApps), becoming a core asset within major blockchain ecosystems and supporting staking in lending protocols and DeFi applications. It will also power Bitget Wallet services, including Fair Launchpool and multi-chain gas toll payments. Additionally, BGB will explore real-world use cases, allowing users to pay for dining, travel, fuel, shopping and more, providing a seamless Web3 PayFi experience.
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To facilitate a smooth transition, BWB holders on the Bitget exchange can switch their BWB to BGB automatically. In detail, BWB tokens will be converted to BGB at a ratio of 0.08563, calculated using the 7-day average closing price of the BWB/USDT pair on Bitget. After the swap, all BWB tokens will be burned, and the equivalent BGB will be dropped to user accounts. BWB trading and related services will be suspended on December 27.
“As the cryptocurrency market matures, only the most resilient assets with strong ecosystems and real value can thrive through the cycles. BGB, ranked among the top 30 tokens, has proven itself as a leading token with exceptional liquidity and a strong community,” he added. The merger will strengthen BGB’s role within the Bitget ecosystem and create new opportunities for it to explore the dynamic decentralized world. Gracie Chen, CEO of Bitget.
For more details about token integration, please visit
connection.
About PetGate
Founded in 2018, Bitget is the global leader Cryptocurrency exchange And Web3 company. Serving more than 45 million users in over 150 countries and regions, Bitget is committed to helping users trade smarter through its leading copy trading feature and other trading solutions, while providing real-time access to…
Bitcoin price,
Ethereum priceAnd prices of other cryptocurrencies. Formerly known as BitKeep, Bitgate wallet It is a world-class multi-chain crypto wallet that offers a range of comprehensive Web3 solutions and features including wallet functionality, token swaps, NFT marketplace, DApp browser, and more.
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Bitget is at the forefront of driving cryptocurrency adoption through strategic partnerships, such as its role as the official cryptocurrency partner of the world’s top soccer league, LaLigain the Eastern, Offshore and Latin American markets, in addition to being a global partner of Turkish national athletes Pius Tosun Cavusoglu (World Wrestling Champion) Samt Gumus (Gold Medalist in Boxing) and Aydin Primary School (National Volleyball Team), to inspire the global community to embrace the future of cryptocurrency.
For more information, visit: Website | twitter | cable | LinkedIn | Sedition | Bitgate wallet
For media inquiries, please contact: media@bitget.com
Risk Warning: Digital asset prices are subject to volatility and may experience significant fluctuations. Investors are advised to only allocate money that they can afford to lose. The value of any investment may be affected, and there is a possibility that financial objectives may not be achieved or the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing should be carefully considered. Past performance is not a reliable indicator of future results. Bitget does not accept any responsibility for any potential losses incurred. Nothing contained herein should be construed as financial advice. For more information, please refer to our website
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