Cryptocurrency exchanges have seen a rise in interest due to the large inflow of volume into cryptocurrency. With multiple narratives breaking out such as memecoins, decentralized finance, and many more, centralized exchange tokens have also had their fair share in the spotlight. In the past few weeks, exchange tokens see a significant rise in their value as the rest of the cryptocurrency market pushes towards the upside.

Bitget’s token, BGB, has just recently broken its previous all-time high of $1.5, achieving a new all-time high of $2.

Why is this the case for BGB? Recent data shows Bitget's ascending trajectory:

• The platform's 24-hour derivatives trading volume reached $77 billion last week, positioning it just behind Binance. 
• According to Data.ai, the Bitget app was downloaded 1.92 million times in October, ranking third among global centralized exchange applications, following Binance and OKX.
• Similarweb reports that Bitget's monthly visits in October totaled 22.11 million, a 266% increase from 6.039 million in October of the previous year.

Other CEX tokens may also see similar success, depending on market sentiment and the exchange’s progress. However, compared to other CEX tokens, BGB has been trading stable above its previous all-time high, and this is attributed to these key factors:

Utility: BGB holders benefit from early access to new projects through the launchpool and to stake more tokens on PoolX. It also has perks such as spot fee discounts, VIP benefits, and many more coming soon

Impressive Launchpool: By locking BGB, holders are able to receive tokens for early projects. Bitget Launchpools boast from high returns, as credited by CryptoRank, reaching an average ROI of 270%.

Security: Bitget secures BGB holders by allocating 10% of tokens to a protection fund, using Proof-of-Reserves for transparency, and maintaining a substantial Protection Fund.

Based on the data, it is evident that BGB has been one of the best performing CEX tokens in the cryptocurrency market as it has both broken its previous all-time high and maintained its value. 

Disclaimer: Tokens mentioned in this article are not financial advice. It is highly encouraged to only invest what you can afford to lose and do adequate research before purchasing cryptocurrency.