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Bitget Unifies BWB & BGB Tokens: Boosts Utility and Adoption
In a move aimed at simplifying its token structure and positioning itself as a more competitive and attractive asset for traders and investors, cryptocurrency exchange Bitget has announced the merger of its Bitget Wallet Token (BWB) and BGB tokens. As a result, BGB will now serve as the unified ecosystem token for both the exchange and wallet.
According to the announcement, this consolidation is expected to streamline the token economy, reduce fragmentation, and ultimately strengthen the overall ecosystem. The move has already had a significant impact on the price of the BGB token, which has surged by 22.3% in the last 24 hours and is currently trading at $6.85.
The Bitget platform will automatically merge the tokens for users, with an exchange rate calculated from December 19-25 (100,000 BWB = 8,563 BGB). Additionally, all BWB tokens will be burned after the merger, while locked BWB will convert to BGB once unlocked. This move is expected to ensure that there is no inflation in the total supply of BGB.
For Bitget Wallet users, however, manual conversion is required on-chain before December 27 at 08:00 UTC to ensure a smooth transaction and access to the unified token benefits.
The community has welcomed the move, with many expressing optimism about the decision. One user stated, “Smart consolidation move by Bitget. Merging BWB into BGB creates a stronger unified token economy and reduces fragmentation. The volume surge past BNB is impressive, but let’s see if it sustains.”
While initial reactions are positive, it remains to be seen whether the momentum will continue in the coming weeks.
Source: http://www.cryptonewsz.com
