Bitget, a leading crypto derivatives and copy trading platform, has announced the listing of its native token BGB on the renowned cryptocurrency exchange MEXC. The listing is scheduled for July 31, 2023, and is expected to enhance the liquidity, accessibility, and overall value of the BGB token.
BGB, with a circulating supply of 1.4 billion and a total supply of 2 billion, plays a crucial role in Bitget’s ecosystem. The token offers users a variety of rights on the Bitget exchange, including fee discounts, access to high-quality tokens through Launchpad and Launchpool participation, and the ability to Super Airdrop, among other benefits.
The decision to list BGB on MEXC comes in response to the growing market demand for the token. Since the beginning of the year, BGB has amassed over 300,000 holders and achieved a total trading volume of more than two billion USD. The token reached an all-time high of over 0.51 USDT in February and was the best-performing exchange token in H1 2023, outpacing BTC.
Bitget’s steady growth and increasing share in both the spot and derivatives trading markets have contributed to the surge in BGB’s value. The platform listed over 180 coins in 2023 and boasted the best Launchpad performance, with an ATH average ROI of 41.9x. These factors have strengthened the use cases and attractiveness of BGB.
The updated BGB whitepaper, released in April, revealed new features in development, including the BGB lottery, trial fund for futures trading, and exclusive earning services. The Bitget team is also considering a BGB buyback and burn mechanism to reduce the token’s circulating supply and enhance its value.
According to TokenInsight’s Crypto Exchange Report Q2 2023, Bitget ranks fourth in trading volume among all CEXs, and its market share increased by 1.81% to 8.7%, the second-highest increase among the Top5 CEXs.
Gracy Chen, Managing Director of Bitget, stated, “The listing of BGB on MEXC is a testament to the recognition and achievements of Bitget in the dynamic crypto space. We are excited to unlock new possibilities and reach a broader audience through this strategic collaboration with MEXC.”
BGB is now available for public exchange and trade on MEXC, Bitfinex, and Bitget, with a total daily trading volume of $10 million. The Bitget team is exploring future listing opportunities for BGB in the coming months.
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