BGB Soars by 30% After Bitget Announces Merger With BWB

The price of Bitget Token (BGB) jumped by 30% after Bitget’s announcement to merge the Bitget Wallet Token (BWB) with BGB, forming a unified token to support its ecosystem. The merger aims to simplify operations within the Bitget ecosystem, integrating on-chain and off-chain functionalities while expanding the token’s utility to everyday transactions via PayFi by 2025.

BGB and BWB Prices Soar

Following the exchange’s announcement, BGB’s price reached $7.24, marking a 30% gain in the past 24 hours. The increase reflects strong market activity and heightened investor interest in the token’s potential.

Meanwhile, the price of BWB also climbed 31% to $0.565, with its 24-hour trading volume soaring by 260% to $26.08 million. Over the last 30 days, BWB has gained approximately 109%, hitting a 24-hour high of $0.6968.

Unified Token Structure to Boost User Value

According to the announcement, the merger seeks to enhance the token’s utility and strengthen its role in the platform by unifying its exchange and wallet services. The integration is expected to offer greater value to users while simplifying the token structure.

As part of the transition, BWB holders will exchange their tokens for BGB at a rate of 0.08563 BGB per BWB, based on the average closing price over the last seven days. For instance, holding 100,000 BWB will yield 8,563 BGB tokens. By consolidating its token offerings, Bitget is positioning itself to capitalize on the combined user base of over 100 million from its exchange and wallet platforms.

Bitget expects the merger to bolster its market presence. The unified token will serve as a central ecosystem component, increasing its liquidity and usability across various blockchain applications.

The merger reflects Bitget’s ongoing efforts to enhance user confidence and strengthen its ecosystem. A few months ago, the exchange demonstrated a similar commitment when BGB experienced a sharp price drop on October 7, falling from $1.14 to $0.6441 in under 10 minutes before recovering to $1.06. Bitget responded promptly, promising to compensate affected users and pledging to complete the process within 72 hours.