Bitget, a major non-custodial multi-chain crypto wallet, announced its token merger of BGB and BWB. This event has garnered attention from the crypto community, impacting the market.
Changes at Bitget
Bitget, formerly known as BitKeep, announced the merger of its native tokens, Bitget Token (BGB) and Bitget Wallet Token (BWB). This initiative aims to optimize both exchange and wallet services under a unified token. The event has stimulated significant social sentiment around these tokens, as confirmed by Santiment data.
Token Price Surge
The BGB token price surged after a market breakout in early November, intensifying in December. Driven by the token merger, BGB's price rose over 92% in the past week, reaching $8.49, and it entered the top 20 by market capitalization, surpassing $11.2 billion. The BWB token also saw a significant increase to $0.69, but trading volumes have begun to drain as the merger shifted focus away from it.
Future Outlook
The BGB price is expected to continue its ascent, reaching $10 in the first weeks of 2025 and potentially hitting $15. The merged token is poised to become a leading platform token, driving adoption and innovation in the DeFi sector.
The Bitget token merger marks a significant event in the cryptocurrency industry, capturing investor and analyst attention and showcasing substantial growth potential.
