A crypto exchange token has soared by nearly 30% this week, despite the market’s overall downtrend.
The Bitget Token is a cryptocurrency (BGB(at time of writing, the price is $7.37. It is up by nearly 28% within the last 24 hour and by more than 70% within the past 7 days.
BGB’s gains have partially materialized amid reports that Bitget plans to merge The Bitget Wallet Token, which is also a native asset of the Bitget Wallet Token.BWB).
BWB, ranked 638th by market capital, has fallen more than 4% the past day, but is up nearly 45% the past seven days.
Bitget’s merger unifies both tokens under BGB. The exchange claims that the decision was a result of community demand.
Explains Bitget chief executive Gracy Chen,
By merging BGB with BWB, our company is taking a big step towards building a robust and unified ecosystem that bridges off-chain and on-chain applications. This move will increase the utility of BGB and ensure that all holders benefit from Bitget’s ecosystem growth.
Bitget has announced that BWB owners on the exchange will be able to automatically swap their BWB for BGB at the 0.08563 price, which Bitget calculated based on the 7-day average of the BWB/USDT pairing on Bitget. BGB is the 22nd most valuable crypto asset in terms of market cap.
According to CoinGecko, the overall crypto market capital dropped by 4.7% Thursday.
Don’t Miss a Beat – Subscribe Receive email alerts directly in your inbox
Check out our latest offers Price Action
Follow us X, Facebook You can also find out more about the following: Telegram
Surfen The Daily Hodl Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors must do their research before making high-risk investments, whether in Bitcoin or digital assets. You are responsible for any losses that you may incur. Please be aware that all transfers and trades will be at your own risk. The Daily Hodl neither recommends the buying or sale of any cryptocurrencies, digital assets or other digital assets. Nor is The Daily Hodl a financial advisor. Please note that The Daily Hodl engages in affiliate advertising.
Generated Image: Midjourney
