Bitget Expands BGB Utility with Morph Chain Integration and New Liquidity Pools

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Bitget’s native token, Bitget Token (BGB), is now integrated with the Morph Chain. This move aims to enhance the utility and accessibility of BGB across various blockchain networks. As of now, BGB trades at $6.48, with a 24-hour volatility of 2.4%. The market capitalization stands at an impressive $7.77 billion, and the 24-hour trading volume amounts to $356.36 million.

Connecting Bitget Token via the Morph Bridge simplifies the process of moving tokens between various blockchain networks for users. Additionally, the platform has established a liquidity pool for BGB on Bulbaswap, Morph’s primary trading and liquidity hub. Within just a few days, over $1.1 million was secured in this pool, offering users the chance to participate and collect rewards while contributing to the expansion of the token ecosystem.

A new system is in place to motivate more BGB transactions. Individuals participating in The Great Token Migration (Morph Zoo Season 2) have an opportunity to amass Morph Points by transferring BGB between Ethereum and Morph, or simply holding it within Morph. Users of the Bitget Wallet will be rewarded with 1.2 times the points for bridging during this event.

New Liquidity Pools and Staking Programs Enhance BGB Ecosystem

Gracy Chen, Bitget’s chief executive, emphasized that the company prioritizes the usefulness and expansion of its own token, BGB. By linking BGB to the Morph Chain and establishing fresh liquidity pools, they aim to broaden their user base and offer more interactive opportunities with BGB. According to Chen, this move will enhance accessibility and engagement for users.

We’re steadfast in our dedication to fostering BGB’s ongoing expansion and utility. By linking BGB with Morph Chain and establishing fresh liquidity pools, we are broadening its influence and offering users additional chances. This connection aligns with our aspirations to establish BGB as a crucial component in both decentralized and real-world solutions, enabling the BGB community to actively engage in the rapidly developing Web3 landscape.

Bitget’s strategy involves incorporating Morph Chain to expand the practical uses of BGB in both digital and real-world scenarios. In a recent announcement, Bitget unveiled their BGB whitepaper roadmap detailing future plans, one of which is a buyback and burn program designed to decrease supply and boost value. The initial phase has already seen the destruction of 800 million BGB tokens, which amounts to 40% of the total supply.

This whitepaper additionally outlines a staking initiative, aiming to establish BGB as a significant resource for staking, liquidity, and Decentralized Finance (DeFi) ventures. Furthermore, the team is considering incorporating BGB into PayFi scenarios, thereby facilitating practical applications such as travel and shopping payments via the Bitget Card.

BGB’s Remarkable Growth and Future Plans for Real-World Use

BGB’s development has been truly impressive. By the year 2024, its token value had multiplied ten times, making it one of the best-performing exchange tokens around. Currently, it holds the 22nd spot on CoinMarketCap, boasting a market capitalization exceeding $7 billion.

Beyond that, Morph operates as a Layer 2 solution on Ethereum’s framework. This project is designed to enhance transaction speed and lower costs without compromising Ethereum’s security and decentralization. Notable investors such as Pantera Capital, Foresight Ventures, and DragonFly Capital support Morph. The mainnet was launched in late 2024, providing effortless cross-chain connectivity and supporting a variety of decentralized applications.

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2025-01-08 17:13