Bitget Exchange is adopting a three-in-one strategic approach

Bitget Exchange has developed very rapidly in the past few years and is an exchange with distinctive features.

Especially recently, Bitget has made several big moves. The logic behind these moves is worth our in-depth exploration. We can take a closer look at the decision-making context behind these surface actions and find opportunities that ordinary users can seize.

1. Centralized liquidity

First, Bitget’s wallet coin BWB (Bitget Wallet Token) was merged into the platform coin BGB (Bitget Token).

This operation not only directly concentrates liquidity and improves the market value and liquidity of BGB, but also indirectly empowers BGB. The merged BGB will be able to be used in a wider range of application scenarios, including on-chain and off-chain scenarios.

On the user side, by merging the two tokens, Bitget unified the brand and ecology, reduced the complexity of users switching between different tokens, and made the use of tokens more consistent across the entire platform.

This is not a strategic contraction, but more like concentrating resources to seek breakthroughs in advantageous battlefields.

2. Increase the platform currency

Taking advantage of the opportunity of concentrated liquidity, Bitget began to rapidly increase the price of its platform coin BGB.

The price of BGB has repeatedly broken upwards, and its market value has exceeded 10 billion US dollars.

Many people even say that the current BGB is very similar to BNB in ​​2019.

This is exactly the positive effect and market enthusiasm that the platform currency brings to the exchange.

Consensus is not formed during a decline, but rather during a rise.

As the native token of the platform, the price increase of BGB can be seen as a vote of confidence in the platform, which will attract more partners, users, projects and funds to the Bitget platform.

On the other hand, the market position and brand influence of Bitget Exchange will also rise, which can help it stand out in the fiercely competitive market of exchanges and attract more attention and investment.

In short, Bitget wants to get ahead in this cycle and take the opportunity to challenge the older brothers when they encounter their own bottlenecks.

3. Develop new narratives

Rapid price increases cannot last long, and we need to find stronger value support or expectation support brought by narrative.

What are the strongest narrative expectations?

Of course it is the public chain.

In the Crypto industry, among all the sub-segments, the ceiling of public chains is the highest. From the field of airdrops, we can see that big money often comes from new public chains. With high valuations, airdrops are naturally generous.

This is why Bitget is focusing on supporting Ethereum’s new Layer2 project Morph.

If BGB’s benchmark is BNB, then Morph’s benchmark must be BSC.

If we ordinary users fail to seize this wave of wealth effect from BGB, then we should plan for the next obvious wealth code - Morph.

Morph's mainnet has been online for a short time, and no tokens have been issued yet. It is still in the points activity stage, so it is worthwhile for airdrop parties to participate.

To sum up

Bitget’s strategy in this round is very clear: first, concentrate liquidity and its own advantageous resources; then increase the platform currency to attract market attention through the wealth effect, and simultaneously develop a new narrative, that is, the new public chain Morph, to finally activate the entire ecosystem.

Exchange + wallet + public chain, a trinity, coordinated development.