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Why Has BGB Performed So Well in a Downward Market?

Why Has BGB Performed So Well in a Downward Market?

BGB rose to a new high of US$0.5133 in June 2023, which is right below its all-time high. Let’s see why BGB has been performing exceptionally well in a market on a downward trend.

BGB Breached $0.51 - Again

BGB is the native token of Bitget, one of the world’s largest crypto exchanges. Introduced in 2021, BGB has gained significant popularity and recognition within the crypto community due to its impressive growth.

Technical indicators suggested that BGB was inching towards a new local high and here it is. BGB has been making headlines lately as it reached a new high after four consecutive trading days of gains. The surge of BGB to $0.5133 is a remarkable increase since the token’s all-time high was recorded at $0.5162 in February this year. Less than half a year and BGB is about to hit a new high - it’s definitely good news for BGB holders. Check out the performance of BGB on the week of June 05 to June 11:

Why Has BGB Performed So Well in a Downward Market? image 0

And a summary of the previous week (June 05 to June 09)...

Why Has BGB Performed So Well in a Downward Market? image 1

New to BGB and Bitget? Make sure to dive deep into our BGB Sail Series to see how impressive BGB monthly performance is:

BGB Sail: May Edition

BGB Sail: April Edition

BGB Sail: March Edition

BGB Sail: February Edition

Bitget Continues To Empower BGB

Being BGB diamond hands is a quick and simple way to achieve effective capital management: paying fees using BGB means a direct reduction of trading costs and for BGB holders, it translates to lower withdrawal fees, opportunities to purchase crypto staples at discounted prices and lucrative airdrops.

Besides, the flourishing of Bitget is undeniably integral to BGB's victory. Investors will be able to benefit from the success of Bitget via holding BGB since the continuous effort of Bitget will lead to an increased level of recognition and trust in our exchange, thereby driving BGB's value up.

Below are Bitget updates that play a crucial role in the appreciation of BGB’s value:

Service updates

As Bitcoin NFT sales volume skyrocketed in May and secured the second place in the list of top blockchains by NFT sales volume, Bitget has responded to the soaring demand by becoming one of the first exchanges to support the trading and withdrawal of BRC-20 tokens. To improve user's trading experience, we have added the BRC-20 Zone, where a little reunion of Bitcoin-based tokens can be found like this:

Why Has BGB Performed So Well in a Downward Market? image 2

Bitget introduced the Bitget SharkFin with guaranteed yields hitting as high as 7% APR in May. With Bitget SharkFin, subscribers will be able to earn more when prices fall within the given range, otherwise the floor APR is there for interest calculations.

Bitget unveiled the Martingale AI investment strategy alerts, allowing traders to buy cryptocurrencies at set prices and automatically sell them when the market reverses. It utilizes the power of AI for the ‘buy low, sell high' strategy.

BGB Empowerment

New privileges for BGB holders include free withdrawals and BGB staking. Think of a savings account with extra benefits; those who stake BGB receive free daily withdrawals based on the amount of BGB staked. In addition, owners of BGB can participate in the Super Airdrop campaign and auto qualify for airdrops of any newly listed crypto asset on Bitget.

Brand optimization

Bitget has also been optimizing its brand and establishing stronger connections with users both online and offline.

We actively participate in major conferences, advocate for Web3 finance, and emphasize investor protection by serving as the main sponsor of Blockchain Week 2023 in Australia on June 25, 2023 and engaging in valuable discussions with influential figures in the political and industry realms in the “New Era of Crypto” conference in Hong Kong in the first days of June.

In terms of compliance, Bitget has been diligently working to safeguard investor rights and ensure compliance across different regions. We completed the cryptocurrency business registration in Lithuania in April and the virtual asset service provider registration in Poland in May. Bitget is also in the process of applying for a crypto license in Bermuda and a license for a virtual asset trading platform in Hong Kong.

Closing Words

By continuing to prioritize user empowerment and improve its Web3 financial services, Bitget has successfully established a win-win relationship with all users. As the dividend-paying asset of Bitget, BGB's future trajectory remains an exciting prospect for investors and enthusiasts alike.

Simply create an account, and start exploring the incredible Bitget-Verse today!