The native BGB token of crypto exchange Bitget is set to be listed on the industry-leading MEXC exchange, with trading to be opened starting July 31, according to a press release. The listing opens up new prospects for attracting liquidity to the Bitget platform and is expected to elevate demand for the BGB token.
The announcement of the listing comes as BGB experienced significant price growth since February of 2023, setting it as the best-performing exchange token of the first half of the year, with an all-time high of 0.51 USDT per token. At the time of writing, BGB had over 300,000 confirmed holders and in excess of $2 billion in trading volume recorded since the start of 2023. In addition to MEXC, the BGB token is also available for trading on Bitfinex and Bitget, with a total daily trading volume of $10 million.
The total circulating supply of BGB stands at 1,400,000,000 of the 2,000,000,000 total supply. The asset is a critical element of the entire Bitget ecosystem, granting holders the ability to take advantage of exclusive features, as well as rewards, discounts on trading fees, participation in airdrops, and other opportunities, such as access to venues like Bitget’s Launchpool and Launchpad.
“The listing of BGB on MEXC is a testament to the recognition and achievements of Bitget in the dynamic crypto space. As we continue to expand our ecosystem in both the CeFi and DeFi realms, enhancing BGB’s visibility and utility remains one of our top priorities. We are excited to unlock new possibilities and reach a broader audience through this strategic collaboration with MEXC,” as Gracy Chen, Managing Director of Bitget, commented on the development.
BGB’s rising share in the derivatives trading markets has resulted in increased demand for the asset, giving the Bitget team reason to expand listing across a broader selection of trading venues. The asset’s ATH average ROI of 41.9x opens up vast possibilities for using BGB as both a utility instrument within the framework of the Bitget ecosystem and as an investment portfolio addition.
The listing is expected to assist in further strengthening Bitget’s market position, even as the exchange was ranked 4th in terms of trading volume among all centralized exchanges according to TokenInsight’s Crypto Exchange Report Q2 2023. The report also highlighted that Bitget managed to increase its market share from 1.81% to 8.7% – the second-highest such indicator among its competitors in the top 5 CEXs. The Bitget team has stated that it will be releasing announcements of additional listings in the near future.
Source: https://coincodex.com/article/30752/mexc-exchange-lists-native-bitget-bgb-token-upping-demand-for-asset/