Bitget merges two tokens

The crypto exchange Bitget has announced the merger of two of its tokens – Bitget Token (BGB) and Bitget Wallet Token (BWB). This was reported on December 26 on the official website of the platform.

The merger is aimed at creating a unified ecosystem token. The new token BGB will be used in the Fair Launchpool projects and for paying gas fees in multichain blockchains. Additionally, the exchange plans to integrate the token into public blockchains and DeFi ecosystems – the platform wants to make BGB the primary asset for lending and staking.

The news led to a rise in Bitget Token (BGB) to a record level of $7.79. BGB increased by 30% in one day and gained over 350% in December.

The creators of the crypto exchange noted that the merger will not change the total supply of BGB. The exchange rate will be 11.68 BWB for 1 BGB. Services related to BWB became unavailable starting December 27.