Bitget Token (BGB) is now integrated with Morph Chain, enabling cross-chain transfers. BGB’s value grew tenfold in 2024.
Bitget has announced the cross-chain integration of its native token, Bitget Token BGB $6.45 24h volatility: 1.9% Market cap: $7.76 B Vol. 24h: $356.24 M , onto the Morph Chain, making BGB more useful and accessible across the blockchain network.
Integrating Bitget Token on the Morph Bridge allows users to easily transfer tokens across multiple blockchains. The exchange has also launched a liquidity pool for BGB on Bulbaswap, the central trading and liquidity marketplace on Morph. Over $1.1 million was locked within a few days, giving users the opportunity to join the pool to earn rewards and help grow the token ecosystem.
A system has been introduced to encourage BGB activity. Participants in The Great Token Migration (Morph Zoo Season 2) can earn Morph Points by moving BGB between Ethereum and Morph or by holding it on Morph. Bitget Wallet users receive 1.2x points for bridging during the event.
The CEO of Bitget, Gracy Chen, stated that the exchange is focused on the utility and growth of its native token. Bridging BGB to the Morph Chain and creating new liquidity pools expands its reach and provides users with more ways to engage with BGB. The CEO noted:
“Our commitment to BGB’s long-term growth and utility remains resolute. By bridging BGB to the Morph Chain and introducing new liquidity pools, we are expanding its reach and providing users with more opportunities. This integration aligns with our vision to make BGB a cornerstone of both decentralized and real-world applications, empowering the BGB community to participate in the evolving Web3 ecosystem fully.”
Integrating with Morph Chain is part of Bitget’s plan to enhance BGB’s use cases in both blockchain and real-world applications. The exchange recently revealed its BGB whitepaper roadmap, which outlines the exchange’s future plans, including a buyback and burn program to reduce supply and increase value. The first phase has burned 800 million BGB, representing 40% of the total supply.
The whitepaper also includes a staking program, detailing plans to make BGB a key asset for staking, liquidity, and DeFi applications. The team is also planning to integrate BGB into PayFi. use cases, enabling real-world applications that include payment for travel and shopping through the Bitget Card.
BGB’s growth has been remarkable. The token’s value increased tenfold in 2024, positioning it as one of the top-performing exchange tokens. It is now ranked 22nd on CoinMarketCap, with a market capitalization of more than $7 billion.
Furthermore, Morph is a Layer 2 solution built on Ethereum. The project helps improve transaction speed and reduce costs while maintaining Ethereum’s security and decentralization. Top investors like Pantera Capital, Foresight Ventures, and DragonFly Capital back Morph. It launched its mainnet in late 2024, offering seamless cross-chain bridging and supporting multiple decentralized applications.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Altcoin News, Cryptocurrency News, News
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
