Bitget exchange announced the merger of Bitget Wallet Token BWB into the exchange Token , to merge into a single ecosystem Token BGB.
Bitget merges Bitget Token ( BWB) into Bitget Token (BGB)
On December 26, 2024, Bitget exchange announced the merger of Bitget Wallet Token (BWB) with Bitget Token (BGB) to become the only ecosystem Token , BGB.
📢 Important BWB announcement
— Bitget Wallet 🩵 (@BitgetWallet) December 26, 2024
To accelerate Bitget Wallet's growth and empower Token holders with a greater suite of utilities and benefits, we have decided to merge Bitget Wallet Token (BWB) with Bitget Token (BGB).
After this Token merge, BGB will emerge as the sole unified… pic.twitter.com/AWq9yl7D3s
Bitget Token (BGB) is the platform Token of Bitget exchange, playing a similar Vai to other exchange Token such as BNB of Binance exchange.
Meanwhile, Bitget Wallet Token (BWB) is the Token of Bitget Wallet, used to access various features in this web3 wallet application.
Bitget Wallet is currently one of the largest Web3 wallets in the world, with over 60 million users globally.
BWB was launched in June 2024, which means it was only half a year ago, but the exchange quickly announced the merger.
After BGB and BWB merge together, BGB will act as the underlying fuel for the Bitget exchange, unleashing the full potential of the exchange in on-chain applications.
Additionally, BGB will seamlessly integrate with Bitget Wallet, powering features like Fair Launchpool and multi-chain Gas Price payments.
By 2025, BGB will also expand to offline payment applications, supporting seamless payments in various consumer situations such as dining, traveling, gas, and shopping.
With this vision, Bitget hopes that BGB will become the only solution for web3 + finance + consumer payments.
2024 has been an extraordinary year for # BGB , with its market cap skyrocketing by over 1000%, making it the best-performing CEX Token of the year! And this is just the beginning. 💪
— Gracy Chen @ Bitget (@GracyBitget) December 26, 2024
With the merger of BGB and #BWB , BGB is now the unified Token driving the future of the Bitget… https://t.co/4pis2hrG7c
The swap rate between BWB and BGB is calculated based on the 7-day Medium closing price of BWB/ USDT and BGB/ USDT (12/19 - 12/25/2024, UTC+8). Specifically as follows:
- BWB/ USDT: 0.3934
- BGB/ USDT: 4.5940
- => BWB/ BGB = 0.08563
Thus, if user A holds 100,000 BWB, based on the swap rate of 0.08563, the user will receive 8,563 BGB.
Both BWB and BGB prices reacted positively to the merger news. BWB has increased by 46%, currently hovering around $0.56.
BWB price movement in the last 24 hours, screenshot from CoinGecko at 04:00 PM on 26/12/2024
BGB has seen more modest gains, trading around $6.78, up 28% in the 24-hour period.
BGB price movement in the last 24 hours, screenshot from CoinGecko at 04:00 PM on 26/12/2024
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