Bitget Joins Forces with TRON DAO, Acquires $10M in TRX Tokens

• Bitget has partnered with TRON DAO, acquiring $10 million in TRX tokens to enhance blockchain accessibility and growth.
• With $7.57 billion in total value locked (TVL) and 2.87 million active addresses, TRON continues to expand its network dominance.
• Bitget Token (BGB) hits a new all-time high of $4.88, surging over 216% in a month and showcasing robust market performance.

Bitget a Leading cryptocurrency exchange is now collaborating with the Layer-1 blockchain, TRON DAO, created by Justin Sun. Under this partnership, Bitget will become a TRON supporter and obtain $10 million worth of TRX, TRON’s token. This step underlines the commitment of Bitget to the development of the digital asset market.

TRON with a total value locked (TVL) of $7.57 billion making it the third largest as per DefiLlama, currently seeks to broaden its network through this tie. Sun said that the partnership’s goal is to enable the end-users, and the developers, to create more opportunities. Thus making it easier for the developers to work with TRON blockchain. It has been accepted and grown due to its functions such as high-speed transaction processing.

TRON’s network growth and performance

With low cost per transaction and fast confirmation time, the TRON network has now completed more than 9 Million transactions. According to IntoTheBlock, the gas fee for a single transaction on the TRON network costs 1.21 TRX, which is quite affordable. For instance, TRON had 2,870,000 addresses rendered active on a daily basis, and 197,600 new addresses as of December 16.

The TRON blockchain’s infrastructure also supports the launching of meme coin projects, which also increases its usability. However, TRX is currently at $0.2521 which is an 8.43% downward trajectory over the last 24 hours. It has shed 42.89% from its record high of $0.4407, on December 3, 2021. The only evidence of this is that TRX has recorded a monthly appreciation of 24.02% proving that it can still surge in a volatile market.

Bitget token (BGB) Is now trading at a record high

The company’s BGB tokens have risen in value, with BGB now valued at a new high of 4.88 USD. This was accomplished in the background of increased trading activities within the platform. Bitget remains the sixth most active crypto exchange in terms of its spot trading volume of $ 10.1 billion as per the 24-hour trading volume. According to the average daily turnover in derivatives, it amounts to $63.27 billion.

BGB has risen by 29.56% in the last week and 216.66% in the past month; it has increased by 553.05% since December 2023. The token remains one of the key focuses in the cryptocurrency space. Bitget and the TRON DAO partnership will further the adoption and advancement of blockchain technology.