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Cryptocurrency exchange Bitget announced a strategic merger between Bitget Wallet Token (BWB) and Bitget Token (BGB) on December 26. Following this announcement, the BGB price surged by 30%, reaching $6.86. The merger aims to simplify the token structure, strengthen the ecosystem, and increase user benefits.
Details and Objectives of the Merger
With this new merger plan, Bitget seeks to align its exchange and wallet services better. In this context, BWB holders will be able to exchange their tokens for BGB. Those with 100,000 BWB will receive 8,563 BGB tokens. This ratio has been determined based on current evaluations, with expectations that the merger will generate more use cases and increased liquidity over time.
Bitget aims to present a comprehensive ecosystem by merging over 100 million users from both the exchange and decentralized wallet. Officials from Bitget stated that this merger would increase the token’s value while allowing for more widespread use in daily transactions by 2025 through PayFi integrations. Users will be able to utilize BGB for expenses like dining, travel, and shopping.
Market Reaction and Future of BGB
The merger announcement led to significant movement in the BGB token price. The token gained 30% in one day, rising from $5.46 to $6.86. During the same period, the BWB token also increased by 31%, reaching $0.565. Trading volume soared by 260%, peaking at $26.08 million, and over the last 30 days, the BWB price exhibited a total increase of 109%.
Market observers agree that this development will enhance BGB’s liquidity and offer broader applicability. The token aims to serve as a bridge between blockchain applications and daily financial transactions by 2025. This merger, which seeks to create a simpler and more coherent structure for BGB, aims to deliver a user-friendly experience while increasing market agility.
Given Bitget’s importance among global cryptocurrency exchanges and the prevalence of decentralized wallets, the long-term market impacts of this strategic decision will continue to be monitored.
