Bitget’s BGB Token to Debut on Bitfinex, Boosting Liquidity

• Bitget announced the listing of its native BGB token on the Bitfinex exchange.
• The listing aims to drive further liquidity and accessibility to the token. 
• Bitget also released an updated whitepaper for the BGB token on the same day. 

Bitget, the world’s largest crypto copy trading platform, has announced that its native token, BGB, will list on the Bitfinex exchange. 

Starting Thursday, April 27, Bitfinex users will have access to the BGB/USDT trading pair on the platform. 

Bitfinex Listing to Boost BGB’s Utility: Bitget

According to Bitget, the move will increase liquidity and accessibility to the BGB token. The exchange’s Managing Director, Gracy Chen, says the listing will “further expand the reach of our platform.” 

“We are thrilled to see BGB listed on Bitfinex’s platform,” Chen said, emphasizing that the move reflects “the recognition and achievement of Bitget in the crypto space.”

The listing comes after Bitget updated its white paper for the platform’s native token. The new white paper, updated on April 24, outlines the roadmap for BGB development and unique benefits for holders. 

So far, the BGB token provided holders with perks such as fee discounts, opportunities to join Launchpad and Launchpool, voting for project listings, and more. 

The new white paper also introduced features like the lottery, zero withdrawal fees, and exclusive earning services. 

“As our ecosystem continues to grow in the CeFi and DeFi world,” Chen added, “empowering BGB with more visibility and utility will also be one of our focuses ahead.” 

Bitget is a crypto exchange that capitalized on the growing trend of copy trading since 2022. This relatively new trading instrument allows users to copy successful traders automatically. 

On the Flipside

• While BGB’s Bitfinex listing will make it more accessible to traders, its value will ultimately depend on its tokenomics and Bitget’s performance. 
• Bitget plans to introduce a deflationary element to BGB’s tokenomics. Bitget’s new whitepaper states that the exchange will begin buying back and burning the token “at the appropriate time.” 

Why You Should Care

Exchange listings are important milestones for any crypto project, as it exposes the token to more users. Successful listings provide crypto projects with more capital to scale their operations. 

Read more about how Bitget’s copy trading focus is paying off 

Binance, OKX Fail to Gain Derivatives Market Share from FTX – Bitget Surges

Read about Solana’s latest xNFT standard and the buzz it is generating. 

Solana NFT Market Surges on Mad Lads xNFT Frenzy

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• Source: https://dailycoin.com/bitgets-bgb-token-to-debut-on-bitfinex-boosting-liquidity/