KEY POINTS
- $BGB prices surged 23.3% in the past day amid a month-long rally that saw 264% in gains
- Bitget Token had two years of stagnation before it started a steady climb earlier this month
- Bitget has been making big announcements in recent weeks, helping drive hype around $BGB
Bitget Token (BGB), the native cryptocurrency of crypto exchange Bitget, has hit a new all-time high, surging above $6, breaking a three-year-long drought for the token that didn't get much attention in the past years.
Data from CoinGecko shows that BGB surged 23.3% in the last 24 hours, amid a week-long rally with nearly 40% in gains.
The token has also been climbing significantly over the past 30 days, gaining 264% in December as more crypto users find interest in Bitget's native crypto.
The Long Road to $6
BGB's chart shows that since 2021, the token didn't have any momentous spikes. The stagnant movement of Bitget's token lasted for two years until it started making small gains in the second quarter of 2024.
Bitget Token didn't gain attention from the crypto space until the beginning of December, when it started a steady surge from around $1.60 and by Christmas Eve, the crypto asset was already trading at around $4.50.
Why is Bitget Token Up?
The Bitget exchange has always been prominent in the crypto space, but it has yet to reach the levels of popularity that Binance, Bybit, Kraken, OKX, and a few other leading exchanges enjoy.
However, it has recently been making rounds around crypto communities due to succeeding new project launches and big announcements.
Among its top news for December was the milestone of its Bitget Builders program. The program, which fosters growth among individuals with much passion for crypto adoption, has reached over 5,000 members from 55 participating countries.
Throughout the month, the exchange has also been launching several holiday-themed events, such as the On-chain Earn Carnival for Ethereum (ETH), SUI, and Cardano (ADA) users.
#Bitget launches $ETH, $SUI, & $ADA On-chain Earn Carnival. 💰 Subscribe now to earn up to 12% APR!
— Bitget (@bitgetglobal) December 25, 2024
⏰ Promo period: Dec 24, 2024 – Jan 24, 2025 (UTC)
📖 How to join: https://t.co/OXy0LSGrEM
🔗 Subscribe now: https://t.co/z83e5WpvQ4 pic.twitter.com/vJO2uc8ZbN
Ahead of Christmas Day, Bitget announced a partnership with Web3 payment infrastructure layer Fiat24 to boost global adoption of the Bitget Token. The collaboration bridges the gap between traditional and decentralized finance (DeFi).
Bitget Global CEO Gracy Chen revealed Wednesday that by 2025, BGB holders will have "more benefits," and a new version of the BGB whitepaper will also be launched.
Moving into 2025, we’ll have more benefits for BGB holders, and we’ll be releasing a new version of the BGB white paper. Building an even stronger foundation for BGB! https://t.co/QmRQOE6yfl
— Gracy Chen @Bitget (@GracyBitget) December 25, 2024
$BGB Holders Look Forward to Massive Highs in 2025
Holders of the BGB token are now expecting that the digital coin will only move up as the crypto space enters a new year.
Some are projecting a $100 billion market cap for the coin in 2025 – the said figure is a far shot from the token's current market cap of $8.7 billion.
Others expressed more decent visions, such as BGB hitting $10 sometime soon.
Notably, Bitget Token is one of a few digital currencies that surged significantly in recent days even as the broader crypto space suffered stagnation just days after crypto leader Bitcoin hit a new all-time high.
