Bitget Token (BGB) is Becoming the New Crypto Staple – Brave New Coin

While the broader markets are largely focused on the 'Bitcoin returns to $50,000' narrative, we are excited to see Bitget Token (BGB) surpass the billion market cap club with new ATH records.

While broader markets are largely focused on 'Bitcoin returns to $50,000' narrativewe are excited to see Bitget Token (BGB) surpass billion market cap club with new ATH records – YES, it's plural. Bitget's native token surpassed the $1 mark in less than 50 days into the new year and only about two years after the relaunch.

TL;DR: BGB is becoming the new crypto staple

Searching for an explanation for the groundbreaking BGB series

By analyzing the weekly and monthly performance of BGB, we came to the conclusion that this token has the ability to withstand market difficulties and take advantage of any bullish signal to return to the spotlight. It's time to take a closer look at this phenomenon in an attempt to find the answer.

Below is the correlation table between btc and BGB. You may be wondering why Bitcoin and not Ethereum (the mother of all ERC-20 tokens) or some other CEX token? At its lowest point, Bitcoin Mastery it was still above 30% or a third of the entire crypto market; Not to mention that Bitcoin's status as an asset is questioned less frequently than Ethereum and the door to Wall Street is finally opening for Bitcoin with the recent spot launch of the BTC ETF.

The chart only shows the 7D and 90D moving correlations between BTC and BGB closing prices since the BGB (from BFT) upgrade in early 2022 for several reasons:

• The issue price of BFT and BGB is different due to the change in plans and benefits for holders;
• The BGB-BTC correlations for longer time periods (30D, 60D and 90D) eventually converge, so we selected the 7D and 90D correlation data to show the contrast between the short and medium term numbers, as well as for the sake of of the visualization. ;
• Long-term analysis is not available considering the 2022 timestamp.

The key point here is: BGB's medium-term performance follows that of BTC, but that is not necessarily the case for its weekly performance. It is important to note that the correlation increases as the period examined lengthens (30D correlation is greater than 7D, 60D is greater than 30D, and 90D is the highest), although the 30D figure does not show a clear positive relationship. between the two cryptocurrencies like the 60D and 90D charts. Implications of these findings include:

(1) It is easy for new BGB investors to earn good returns regardless of their entry date, as the token is likely to move away from Bitcoin's weekly ups and downs, thus creating numerous decent entry points on a regular basis. At the same time, a rebound or breakthrough may occur very soon afterwards, which will make it possible to make profits in a short period of time.

(2) BGB holding must be no less rewarding than having BTC.

Do you need any proof? Check out this BGB pricing summary:

Despite the difficult times caused by the black swan events of 2022, BGB was still able to reach a new all-time high in October, which is almost 2.5 times the opening price of that year. 2023 came with hippie bears jumping, but BGB achieved 11 new ATH records that year, and many new ATHs were reached overnight. The highest ROI of this token since 2022 stands at 284% when it reached $0.697451 on December 19, 2023; The annual return (the closing price of the year divided by the opening price of the year) of 2023 is 219% compared to 155% for BTC and BNBIt's a modest 27%.

Heading into the new year 2024, BGB continued to record new all-time highs: it recently officially surpassed the $1 mark. BGB's year-to-date performance leaves Bitcoin and others far behind in the CEX token category, while its liquidity is roughly at the same levels as BTC and also outperforms other CEX tokens. Except HTX, but consider the return performance of HTX.

Logically, higher prices lead to greater demand and, consequently, greater activity in the market (liquidity). Every month we can observe the gradual increase in the average BGB volume, as well as the volume-mcap ratio (a measure of liquidity). Greater liquidity and more activities are signs of a healthier market, where any large order is less likely to affect prices significantly.

Sustainability of BGB growth: Bitget is at the forefront of cryptocurrency adoption

Bitget celebrated its fifth anniversary last year with even more devotion to mainstream cryptocurrency adoption. Fundamental crypto values ​​revolve around the idea of ​​freedom, which should obviously be granted to each individual. That's why Bitget never stops striving to improve in all aspects to lower the barrier to entry for beginners and ensure the best experience for all cryptocurrency users. BGB's value is a direct result of Bitget's exponential growth, combined with its well-planned roadmap.

Bitget quickly rose to the occasion after the FTX crash, providing a secure platform for spot trading with nearly 700 coins that are constantly monitored and reviewed. We have talked before about the credibility of Bitget: The Epitome of Cryptocurrency Credibility: bitget | Trust is what brings people to Bitget. Bitget has continued to share monthly transparency reports and has successfully maintained its Reserve Test ratio to levels much higher than the industry minimum of 100%, especially for assets of increasing value such as Bitcoin and Ethereum.

BGB also contributes to Bitget's reliability and performance. 10% of the total BGB supply goes to the Bitget Protection Fund BGB is used for growth and marketing purposes, and BGB is used for holders to enjoy exclusive benefits and advantages on our platform.

All in all, BGB is designed to maximize the success of all parties involved based on our win-win philosophy. There is no reason to miss out on this powerful token, which has been recognized as the new top cryptocurrency for its profits and growth potential.

Get more information in the BGB White Paper or see how you can participate BGB Promotions.

Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial or business advice. Qualified professionals should be consulted before making financial decisions.

About Bitget

Established in 2018, bitget is the world leader cryptocurrency exchange and the company web3. Serving more than 20 million users in more than 100 countries and regions, Bitget Exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers a variety of comprehensive Web3 solutions and features including wallet functionality, exchange, NFT Marketplace, DApp browser, and more. Bitget inspires people to embrace cryptocurrencies through collaborations with credible partners, including legendary Argentine footballer Lionel Messi and official esports event organizer PGL.

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