Cryptocurrency exchange Bitget announced the strategic merger between Bitget Wallet Token (BWB) and Bitget Token (BGB) on December 26. Following this move, BGB price increased by 30% to $6.86. It was announced that the merger aims to strengthen the ecosystem and increase user benefits by simplifying the token structure.
Details and Objectives of the Merger
Bitget aims to make its exchange and wallet services more compatible with its new merger plan. 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. While this rate is determined in line with current evaluations, it is stated that the long-term effects of the merger will produce more usage areas and increased liquidity.
This step by Bitget aims to offer a more comprehensive ecosystem by combining the total user base of the exchange and decentralized wallet, which exceeds 100 million. Bitget officials said that this merger will increase the value of the token and reach more widespread use in daily transactions by 2025 through PayFi integrations. Users will be able to use BGB for their expenses such as food, travel and shopping.
Market Reaction and the Future of BGB
The merger announcement led to a huge movement in the BGB token price. The token gained 30% value in one day, and the price rose from $5.46 to $6.86. During the same period, the BWB token gained 31% in value, reaching $0.565. Transaction volume increased by 260% to $26.08 million. According to the last 30 days of data, BWB price has increased by 109% in total.
Analysts agree that this development will increase BGB’s liquidity and offer a wider usage area. The token aims to serve as a bridge between blockchain applications and daily financial transactions by 2025. This merger, which aims to provide BGB with a simpler and more harmonious structure, will increase market agility while providing a user-friendly experience.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
