Bitget Token Leads 2024 Growth—Here's Why

The Bitget crypto exchange token grew 13-fold by 2024.

The Bitget token rate (BGB) of cryptocurrency exchange Bitget rose 30% in one day, reaching a new all-time high of $7.87, according to CoinMarketCap at 5pm. In one month, BGB's value has risen 400%, while in one year it has increased by about 1200% (starting at $0.58).

The token's capitalisation has surpassed $10.7 billion. Thanks to its rapid growth, BGB has risen to 19th place in the ranking of the largest cryptocurrencies, approaching Polkadot (DOT) and Stellar (XLM).

The Bitget exchange was launched in 2018. Its team consists of more than 1,500 employees from 60 countries. According to CoinMarketCap, the exchange ranks among the top 10 cryptocurrency platforms.

Bitget's Milestones in 2024: Expansion, TON Support, and Token Integration

Bitget has increased its popularity and trading volumes in 2024. The exchange's team has launched several investment funds, one of which is intended to support the projects of the TON ecosystem.

On 26 December, Bitget announced the merger of the Bitget Wallet crypto tokens (BWB) with the Bitget trading platform (BGB). BGB, previously used in the exchange's internal infrastructure to reduce fees and provide additional revenue sources, will now become the only native token in the Bitget and Bitget Wallet ecosystem.

According to the exchange, the combined user base of Bitget and Bitget Wallet exceeds 100 million. Starting in 2025, BGB will also support offline PayFi applications, Bitget reported.

Integration with PayFi payment services "will enable seamless payments in multiple contexts, including dining, travel, refuelling and shopping. This will offer users a one-stop solution for Web3 + finance + consumption," the announcement reads.

The token cryptocurrency exchange Bitget significantly outperformed its main competitor, Binance's BNB, in 2024, recording 12% growth in a month and 138% growth in a year. In the last 24 hours, BGB's trading volume reached $1.5 billion, while BNB saw $1.1 billion.

Bitget's token has entered the top 5 of the 100 largest cryptocurrencies by market capitalisation that have shown the most growth since the beginning of 2024.

Bitget attributes BGB's success to factors such as the growth of the exchange's audience, the usefulness of the token within the ecosystem, general positive market sentiment and the overall growth of the cryptocurrency industry. The Bitget team believes that as more and more people and institutions enter the crypto industry, demand for utilitarian tokens such as the BGB can continue to grow.

Gate.io and OKX exchange tokens have also posted gains in the past 24 hours, with Gate up 13% and OKB up 6.8%. BNB, on the other hand, fell 2.5% over the same period.