Crypto exchange Bitget is seeing its platform token $BGB soar this month. The token is up 359% since late November to a price of $7.31, down just slightly from a new all-time high of $7.87 reached earlier today.
$BGB’s meteoric rise has left investors wondering: can Bitget’s token pump even higher, or are we nearing the top?
We’ll take a closer look at what’s driving the action around $BGB and predict whether it can keep climbing to $10 and beyond.
Bitget Token Rockets Higher on Bull Market Expectations
The main catalyst behind the exponential growth in Bitget’s $BGB token appears to be expectations of a coming crypto trading tsunami.
Analysts are widely anticipating a historic crypto bull market in 2025, with potentially trillions of dollars in trading volume up for grabs by major exchanges. Bitget, which has seen a 683% surge in its young user base since November, stands to be one of the biggest winners of the bull run.
That’s driven demand for $BGB in 2 ways. First, investors are buying up the token as a bet on Bitget’s growth and hoping that the exchange will reward token holders with buybacks, burns, and other value-additive activities in the future.
Second, traders getting in position for the bull market are buying up $BGB in order to take advantage of the token’s utility benefits. These include discounted trading fees and early access to new token launches on Bitget’s exchange.
In this second category, Bitget may also be benefiting from global growth. The exchange recently received a Bitcoin Service Provider licence from the Central Reserve Bank of El Salvador, enabling it to operate in one of the world’s most crypto-friendly countries. Further expansion could be on the way, making the $BGB token more attractive to crypto traders around the world.
Bitget Merges $BWB and $BGB to Create Exchange Token Heavyweight
Bitget is capitalizing on the surge in its $BGB token by taking this opportunity to merge it with the exchange’s Bitget Wallet Token ($BWB).
Until now, $BWB offered benefits for Bitget Wallet users, while $BGB offered benefits exclusively for Bitget exchange users. $BWB will be discontinued and holders will receive $BGB as a result of the merger.
The new token unifies the Bitget ecosystem, and investors are clearly happy about it. The $BGB token is up 30% in the 24 hours since the merger was announced.
With that kind of momentum, it’s hard to believe $BGB’s rise could reverse anytime soon. The token has seen $1.5 billion in trading volume in the past 24 hours, up 150% from the previous 24-hour period.
This is uncharted territory for Bitget Token, so it’s hard to predict just how high the token’s price can go. But $BNB, the leading exchange token from Binance, is worth $100 billion compared to $BGB’s $10.3 billion valuation.
So, a price increase to $10 seems well within the realm of possibility. We wouldn’t be surprised to see $BGB keep climbing beyond that, although investors need to be wary of a pullback and consolidation before the token’s price gets overextended.
Platform Tokens Across Market See Gains—Could $BEST Be The Next $BGB?
$BGB isn’t the only crypto platform token rising as investors and traders get ready for the bull market. Binance’s exchange token $BNB is up 11% in the past month and Gate.io’s $GT token is up 40%. Even $FTT, the native token of now-defunct crypto exchange FTX, has seen a 63% rise.
The overall trend is strong demand for exchange and other crypto platform tokens. Investors clearly see these coins as a way to bet on growth in the crypto market without picking and choosing winners and losers among emerging tokens.
That’s focused attention on the latest platform token to launch, the $BEST coin from Best Wallet. While Best Wallet is first and foremost a crypto wallet, it has a lot of exchange-like features—including a fiat-to-crypto onramp, a built-in DEX, a crypto launchpad, staking and portfolio tools, and much more.
The $BEST token offers a wide range of benefits for Best Wallet users, including reduced transaction fees on trades through the DEX and enhanced staking rewards on dozens of tokens. $BEST token holders also receive exclusive early access to new projects on Best Wallet’s launchpad and voting power to decide the future of the wallet’s development.
The $BEST token is available on presale now and it’s raised more than $5.75 million already. However, that’s a tiny valuation compared to $BGB, suggesting that $BEST could have a lot of room to grow as the crypto bull run heats up.
In fact, crypto analyst Austin Hilton called $BEST one of the best new tokens to buy, pointing out it’s like getting a new wallet, exchange, and platform token all in one.
The $BEST token is available to buy now through Best Wallet’s launchpad. For investors who missed $BGB’s explosive rise, joining the $BEST token presale could be a second chance to find market-beating gains.
