In a surprising yet bullish move, Bitget exchange decides to drop an early Christmas gift to Bitget Wallet Token ($BWB) holders. In response to popular community demand, the two tokens will be combined into a single ecosystem token, BGB, which will be the ultimate utility token for Bitget Wallet and Bitget Exchange. This goal aims to solidify and assimilate two communities with a shared goal. Here are a few details you need to know about the merger:

Merging Process

Based on prices on Bitget Exchange, the token exchange rate will be based on the 7-day average closing price of BWB and BGB between December 19 and December 25, 2024. 

Based on the 7-day average of both tokens that can be found in this Bitget article, the exchange rate between BWB and BGB will come out to 0.08563. This means that if someone holds 100,000 $BWB, they will receive 8563 BGB.

On December 27, 2024, BWB/USDT will be delisted on Bitget exchange at 4:00 PM GMT 8+. BWB Holders will receive a notification of the merger completion the moment their BGB gets delivered to their wallets.

Why is the merger happening?

According to the CEO of Bitget, Gracy Chen, “By merging BGB and BWB, we are taking a major step toward building a unified and robust ecosystem that bridges on-chain and off-chain applications. This move will enhance the utility of BGB and ensure that every holder benefits from Bitget ecosystem growth.”

After an explosive rally for BGB, rising to over 750% year-to-date and cementing itself as the best-performing CEX token, BGB has now become a top 20 cryptocurrency and the 2nd most valuable CEX token. To unify both Bitget Wallet and Bitget Exchange ecosystems, the exchange believes that this merger will be a benefit to all stakeholders by being exposed to all of Bitget’s growth.

As the supply of BGB will not be affected by this merger, Bitget looks forward to all users being exposed to the growth of their ecosystem through a unified token. If you wish to learn more about the merger, you may know more in this article.

Disclaimer: Tokens mentioned in this article are not financial advice. The purchase of cryptocurrency may result in financial losses if done recklessly.