The trading price of $BGB token has been rising rapidly for the past 7 days. Some people call it an opportunity for sudden profits, but others call it a price manipulation game.
Bitget Wallet is a popular non-custodial, multi-chain digital asset wallet. In this wallet, a cryptocurrency user can easily store, manage and exchange various cryptocurrencies across multiple crypto networks, including NFT trading. Furthermore, this Wallet allows its users to interact with the DApp browser and stake cryptocurrencies. Bitget Wallet Token ($BWB) is the native token of Bitget Wallet.
On December 26, 2024, popular crypto trading exchange Bitget announced its decision to merge its two native tokens, the Bitget exchange native token $BGB and Bitget Wallet Token (BWB), into a single utility token, $BGB.
As part of the merger, the transition will be effective on December 27, 2024. Once this merger is completed, both tokens will have a unified on- and off-chain ecosystem. The BWB token will be exchanged for the BGB token at a ratio of 2:1.
Following this news, the trading price of the $BGB token increases by 31% in 24 hours. Notably, the trading price has increased by 75% over the past 7 days, which attracted the attention of critics.
On the other hand, the trading price of the $BWB token almost remained calm.
Due to the high price difference between the two crypto tokens, many people claim that some form of manipulation is taking place for personal gain.
On the other hand, some experts shared their opinions on this merger and stated that the merger would follow all the basic decisions, but people would not get the exact number of corresponding tokens after the merger.
Official information provided by Bitget on GlobeNewswire confirmed that BWB tokens would be converted to BGB at a ratio of 0.08563, calculated using a 7-day average closing price of the BWB/USDT pair on Bitget, automatically on the Bitget exchange.
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