Bitget Announces Merger Plan for BWB and BGB, Explains the Surge in BGB Value: It is Indeed Value Investment
**Comprehensive Integration of Ecosystem: BGB Becomes the Unified Ecosystem Token**
Bitget has announced a significant decision: to merge the Bitget Wallet Token (BWB) with the Bitget Token (BGB), making BGB the unified token of its ecosystem. This initiative aims to further integrate on-chain and off-chain application scenarios, bringing additional value from the Bitget ecosystem to the BWB community.
**Rapid Growth of BGB and Future Positioning**
BGB Becomes One of the Mainstream Tokens
Over the past year, the number of BGB holders and its market capitalization have significantly increased, thanks to the support from Launchpool and the expansion of new application scenarios. According to an official statement, BGB will become the common ecosystem token for both the Bitget exchange and Bitget Wallet, further solidifying its important position within the blockchain ecosystem.
**Global Second Largest User Base, Moving Towards Web3 Leadership**
Bitget is currently one of the top three centralized exchanges worldwide by trading volume, offering comprehensive services that include spot, leverage, and contract trading, attracting numerous high-quality startup teams to launch on its platform. On the other hand, Bitget Wallet, one of the largest Web3 wallets globally, boasts over 60 million users and covers mainstream Layer-1 and Layer-2 blockchain ecosystems. After the merger, the total number of users for Bitget and Bitget Wallet will exceed 100 million, firmly securing the second position globally.
**The Potential of BGB as Ecosystem Fuel**
Expansion of On-Chain Application Scenarios, Creating More Value for Users
Post-merger, BGB will be integrated into mainstream public chains and top DeFi ecosystems, gradually becoming a core asset for mainstream lending and staking protocols. Additionally, BGB will be seamlessly embedded into Bitget Wallet, supporting multi-chain gas fee payments and Fair Launchpool functionalities. Furthermore, starting in 2025, BGB will expand into offline PayFi application scenarios, supporting various consumption scenarios such as dining, travel, fueling, and shopping, achieving a new solution of Web3 + finance + consumption.
**Token Exchange Details Between BWB and BGB**
Fair and Transparent Exchange Scheme
The official announcement indicates that the exchange ratio between BWB and BGB will be calculated based on the 7-day average closing price from December 19 to December 25, 2024, with an exchange rate of 0.08563 (BWB/BGB).
For instance, a user holding 100,000 BWB will receive 8,563 BGB according to the exchange ratio. This token merger and exchange will not affect the total supply of BGB, nor will it issue additional BGB.
Bitget stated that this merger will accelerate the expansion of its ecosystem, while allowing its users to better enjoy the appreciation opportunities of crypto assets. The positioning of BGB as a unified token further consolidates its status as a mainstream asset in the market.
**Why Did Bitget Platform Token BGB Skyrocket?**
Chain News interviewed a Bitget spokesperson, who stated: “The continuous crazy rise in BGB’s price is not the logic of a ‘meme coin,’ but rather a true ‘value discovery.’ The trading volume and open interest of Bitget’s contract business consistently rank among the top three globally; the spot business has also engaged in collaborations with renowned startup teams through ongoing Launchpool initiatives in the second half of the year, allowing BGB holders to gain substantial profits. In the recently concluded LaunchX, we saw that the Fuel Network, funded by 80 million USD, was willing to allocate 5 million USD in public sale at a low price to Bitget, fully reflecting the market’s recognition and expectations for the Bitget brand.”
Today, Bitget also issued an announcement stating that it will support the merger and token exchange of Bitget Wallet Token (BWB) and Bitget Token (BGB) in the future. From the fundamentals of Bitget Wallet, the rapid and continuous growth of users and the ongoing updates and iterations of the product have not stopped for a moment: the download volume of Bitget Wallet in September ranked second among global crypto applications, following Binance; in the past quarter, efforts have been made in various dimensions such as meme trading products, ecosystem collaborations, simplification of multi-chain gas fee payments, the launch of the BWB center, and the introduction of a 20 million USD funding plan for Telegram Mini Apps.
**Risk Warning**
Investing in cryptocurrencies carries a high level of risk, and their prices may be highly volatile, leading to the potential loss of all principal. Please assess the risks carefully.
