Bitget Token price spikes 9% after Bitfinex announces BGB listing

• The price of Bitget Token (BGB) rose nearly 10% on Monday after Bitfinex announced the token’s listing.
• BGB is the native utility and governance token on crypto derivatives platform Bitget.
• Bitfinex will open deposits for the token on 25 April 2023 at 10 AM UTC, with trading going live on 27 April 2023.

Bitget Token (BGB) price has surged amid news that major cryptocurrency exchange Bitfinex will be listing the token on its platform. 

BGB price traded to a high of $0.41 on Monday, with the 9% gains at the time of writing also reflected in the jump in Bitget Token’s daily trading volume. The gains means BGB price is now just 21% off the all-time high above $0.51 reached on 16 February, 2023.

Bitfinex to list Bitget’s BGB

BGB is an ERC-20 token that works as a governance token on Bitget and users require it to access and utilize services on the derivatives platform. BGB holders can also stake their tokens and benefit from rewards and discounts, with zero withdrawal fees for staked BGB.

The token is ranked 83 by market cap (currently at $567 million) on CoinGecko and has a circulating supply of 1.4 billion BGB. 

On 24 April, 2023  Bitfinex announced that it would be listing BGB, the native token of Bitget, a top crypto derivatives exchange. The listing put BGB tokens on one of the best crypto exchanges, and the largest one to list the token. Trading on Bitfinex will increase BGB’s liquidity as well as visibility, probably adding to demand.

Deposits for BGB will open on Bitfinex on 25 April 2023 at 10 AM UTC while trading will commence on 27 Apri 2023 around 10 AM UTC. The token’s initial trading pairs are set to be BGB/USD and BGB/USDT.