Bitget Integrates Wallet and Token to Bolster Ecosystem Expansion

Bitget has announced the integration of its wallet with the Bitget token (BGB) to enhance user experience and expand applications across centralized and decentralized platforms. The move aligns with the exchange’s strategy to deepen the token’s utility and support the platform’s rapid growth.

BGB, the ecological token for Bitget and Bitget Wallet, has seen remarkable market performance lately. Its market capitalization has surpassed $9.32 billion, with the price reaching an all-time high of $6.82. Over the past 24 hours, trading volume surged by 271%, totaling $1.32 billion, signalling strong liquidity and investor confidence.

The integration aims to strengthen BGB’s on-chain capabilities. It will allow the token to support multi-chain gas fee payments and serve as a staking asset in mainstream lending and staking protocols. Starting in 2025, BGB will expand its use cases and become available for offline payments in retail, dining, and fuel transactions.

Bitget Wallet, which records over 60 million users across major Layer 1 and Layer 2 ecosystems, will incorporate BGB for on-chain transactions. Together, Bitget and its wallet serve more than 100 million users globally.

The exchange also confirmed the merger between its BWB and BGB tokens, using a seven-day average price from December 19 to 25, 2024, to set an exchange rate of 0.08563. Users can convert 100,000 BWB tokens into 8,563 BGB. No additional BGB tokens will be issued, ensuring the total supply remains unchanged.

With a 24-hour trading volume of nearly $5 billion, Bitget ranks as the sixth-largest global cryptocurrency exchange. The company continues to expand BGB’s applications, including its involvement in public chains and DeFi ecosystems, while bolstering its ecosystem through launch pool initiatives.

By enhancing BGB’s utility both on and off-chain, Bitget is positioning its token as a cornerstone of its expanding ecosystem, attracting a growing user base and reinforcing its standing in the crypto sector.

Vanessa has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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