Bitget about the Merge BWB and BGB

[God Of Thunder]

Hey guys!

As you may know, the Bitget exchange has its token BGB, which recently surged from $1 to almost $8. I was wondering what the hell happened that it rose to 700% in a month while most of the altcoins were bleeding. Today, I noticed that Bitget announced that their BWB (wallet token) will be merged with BGB. BGB already has 9 billion dollars in market cap, while BWB has another 80 million. So, an 80 million market cap will be added to BGB, while BGB's total supply will remain unchanged. This means, BGB may hit $15 in the next two weeks

Here is the announcement Bitget made: https://web3.Bitget ( Bitget warning  )/en/blog/articles/bwb-and-bgb-token-merge-upgrade

Good Luck, Bois!

[Charles-Tim]

As you may know, the Bitget exchange has its token BGB, which recently surged from $1 to almost $8.

Its price was $0.534 on September 4 2024. It was around $7.5 when Bitget sent announcement of merging BWB with BGB. The price later not long increased to exactly $8.5. The coin right now is $5.99.

I was wondering what the hell happened that it rose to 700% in a month while most of the altcoins were bleeding.

I think you have known crypto since some months or years ago, this should not be a surprise. Also, this does not make the coin special. There are many altcoins that have done that in the past.

Today, I noticed that Bitget announced that their BWB (wallet token) will be merged with BGB.

It was announced since a week ago.

BGB already has 9 billion dollars in market cap, while BWB has another 80 million. So, an 80 million market cap will be added to BGB, while BGB's total supply will remain unchanged. This means, BGB may hit $15 in the next two weeks

The bullish sentiment is over. If you check the chart you will understand.

[joniboini]

This might be a little out of date but I'm curious why you think the price will jump to $15 just because 80 million is added to the existing 9 billion market cap? The number seems too small to matter at all. Even if Bitget is that hyped what makes people push their token that high if the merge has no other benefits? I don't recall seeing a merge or rebranding that resulted in such an aggressive price increase in the past.

[MUGNIA]

Is it possible to reach $15, I am confused about the concept of merging this market capitalization, I thought a little hard, but instead I got a headache, so will BGB become a BWB coin or vice versa which is currently on the market, what about the previous coin, is it auto swap with the same amount or is there a comparison?

[MrSpasybo]

This might be a little out of date but I'm curious why you think the price will jump to $15 just because 80 million is added to the existing 9 billion market cap? The number seems too small to matter at all. Even if Bitget is that hyped what makes people push their token that high if the merge has no other benefits? I don't recall seeing a merge or rebranding that resulted in such an aggressive price increase in the past.

Yeah, I also don't find any logic in this. It's probably just the personal opinion of the topic creator. BWB was created to support Bitget Wallet, it doesn't have as much value as BGB so the replacement is necessary to ensure users don't have to care about too many different tokens in the Bitget ecosystem, and at the same time create more utility value for BGB token.

Based on technical analysis, I cannot predict the upcoming price range of BGB token. BGB price has increased significantly since the beginning of 2022 and has not had any significant adjustment, the price usually goes sideways and then continues to increase impressively. I even think that the positive news from this merger has been absorbed into the price chart and BGB price will need to go through a long re-accumulation process of several months.

[Akinwale Akinkunmi]

This might be a little out of date but I'm curious why you think the price will jump to $15 just because 80 million is added to the existing 9 billion market cap? The number seems too small to matter at all. Even if Bitget is that hyped what makes people push their token that high if the merge has no other benefits? I don't recall seeing a merge or rebranding that resulted in such an aggressive price increase in the past.

Yeah, I also don't find any logic in this. It's probably just the personal opinion of the topic creator. BWB was created to support Bitget Wallet, it doesn't have as much value as BGB so the replacement is necessary to ensure users don't have to care about too many different tokens in the Bitget ecosystem, and at the same time create more utility value for BGB token.

Based on technical analysis, I cannot predict the upcoming price range of BGB token. BGB price has increased significantly since the beginning of 2022 and has not had any significant adjustment, the price usually goes sideways and then continues to increase impressively. I even think that the positive news from this merger has been absorbed into the price chart and BGB price will need to go through a long re-accumulation process of several months.

I totally agree that merging $BWB with $BGB adds utility value. As for prices, it's true that no one knows what tomorrow holds, and anything can happen to positively impact the token and skyrocket its value.
Looking on the bright side, joining the community isn't a bad idea, as you'll get firsthand information. Take Bitcoin, for example - early community members always have updates ahead of time.
I even saw on X that the exchange token has a Spring Gift Box for their holders https://x.com/bitgetglobal/status/1888788732255371498! At the end of the day, holders are the true whales in this space.