en.cryptonomist.ch
Bitget, the largest crypto copy trading platform, announced that its native platform token BGB will be listed on Bitfinex, driving liquidity and accessibility while increasing its value and utility. The supported trading pair is BGB/USDT, and the trading service will be opened at Bitfinex.
Bitget (BGB) will be officially listed on Bitfinex
BGB is a utility token that plays a vital role in Bitget’s ecosystem, with a circulating supply of 1,400,000,000 BGB coins and a total supply of 2,000,000,000.
It provides users with access to exclusive privileges and various rights on the Bitget exchange, including fee discounts, opportunities to join Launchpad and Launchpool to access high-quality tokens, vote for project listings, and so on.
Gracy Chen, Managing Director of Bitget says:
“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.“
The decision to list BGB on Bitfinex comes in response to the increasing demand for the token in the market. Entering 2023, BGB has experienced significant price growth over the last few months and reached an all-time high of 0.51 USDT in February.
The surge in price can be attributed to several factors, including the increased adoption of the Bitget exchange and its recent efforts in building the spot trading market.
And the recently updated BGB whitepaper revealed that more new features of the native token are being developed, including the BGB lottery, trial fund for futures trading, and exclusive earning services.
A BGB buyback and burn mechanism are also being considered to reduce the token’s circulating supply and eventually boost its value.