Bitget announces token merger, BGB price increases amid market-wide declines
Quick Take Bitget is set to merge its wallet token BWB into BGB, unifying the pair into a single ecosystem token. BGB is currently the only major cryptocurrency experiencing substantial gains on a day of widespread declines.
Bitget is set to merge the Bitget Wallet Token (BWB) into Bitget Token (BGB), unifying the pair into a single ecosystem token for both the centralized cryptocurrency exchange and decentralized Bitget Wallet.
The unified BGB is slated to integrate with Bitget Wallet and power features such as Fair Launchpool and multi-chain gas fee payments "across most on-chain scenarios," according to a press release . The company also says it will be integrated into public chains and major ecosystems in decentralized finance, "enabling on-chain trading services while gradually becoming a core staking asset for mainstream lending and staking protocols."
The combined user base of Bitget and Bitget Wallet exceeds 100 million, Bitget claims.
The company also plans to expand BGB into offline PayFi applications, which would allow payments for activities like dining, travel, and shopping.
The merger will not affect the total supply of BGB, the company clarified , and the exchange rate will be about 11.68 BWB to BGB. BWB-related services will be discontinued on the Bitget platform as of 4:00 PM in China (UTC+8) tomorrow, Dec. 27.
BGB is currently the 23rd-ranked cryptocurrency by market capitalization according to The Block's Price pages , and is the only large-cap token experiencing significant gains on a day of widespread declines. BGB is up nearly 25% in the past twenty-four hours, as of the time of this writing. It is up over 50% over the past week.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
After 10 years of coming of age, Vitalik explores the value of Ethereum’s existence
In previous years, Vitalik focused on discussing technology, but this year he has shifted to exploring Ethereum’s “existential value,” reflecting that Ethereum is transitioning from an infrastructure-building phase to defining its influence on-chain.

Ethereum Consensus Layer Reconstruction Beam Chain: The Ultimate Path or a Technical Maze?
Is the 5-year implementation timeline for Beam Chain reasonable? What does the community think?

Trending news
MoreBitget Daily Digest (Nov 21) | U.S. September Nonfarm Payrolls Unexpectedly Increase by 119,000; BTC Falls Below $86,000, Crypto Market Sees $834M in Liquidations; OpenAI Launches ChatGPT Group Chat Feature Globally
After 10 years of coming of age, Vitalik explores the value of Ethereum’s existence

![[Bitpush Daily News Highlights] Goldman Sachs: Stock sell-off expected to reach $40 billion next week; Jefferies report: Tether's gold reserves reach 116 tons, making it one of the world's largest non-sovereign gold holders; TechCrunch: Prediction market Kalshi raises $1 billion, valuation reaches $11 billion](https://img.bgstatic.com/multiLang/image/social/266a4eb2f52d42906f0b432a905d6ba81763665562274.png)