Last Updated on April 25, 2023 by Bitfinsider
The biggest cryptocurrency copy trading platform, Bitget, just revealed that its native platform token, BGB, will be listed on Bitfinex, enhancing its value and usage while enhancing liquidity and accessibility. BGB/USDT is the supported trading pair, and Bitfinex will be the trading platform open for business.
With a circulating quantity of 1,400,000,000 BGB coins and a total supply of 2,000,000,000, BGB is a utility token that is essential to Bitget’s ecosystem.
It gives users access to special benefits and a range of rights on the Bitget exchange, including as fee reductions, chances to join Launchpad and Launchpool to get high-quality tokens, the ability to vote for project listings, and more.
According to Bitget’s managing director, Gracy Chen, said: “We are thrilled to see BGB listed on Bitfinex’s platform, reflecting the recognition and achievement of Bitget in the crypto space. With the ongoing initiatives to increase the usage and value of BGB, we expect that this move will further expand the reach of our platform. In the meantime, as our ecosystem continues to grow in the CeFi and DeFi world, empowering BGB with more visibility and utility will also be one of our focuses ahead.”
In response to the market’s rising demand for the token, BGB has been decided to list on Bitfinex. BGB’s pricing entered 2023 with a considerable price increase over the previous few months, reaching an all-time high of 0.51 USDT in February.
The Bitget exchange’s growing popularity and recent initiatives to develop the spot trading market are just two of the causes of the price hike.
Further new features of the native token are being created, including the BGB lottery, a trial fund for futures trading, and special earning services, according to the most recent edition of the BGB whitepaper.
The circulating supply of the token will be reduced, which will gradually increase the token’s value. A buyback and burn mechanism is also being studied.
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