Bitget Token (BGB) Hits New All-Time High of $6, Breaking Three-Year Drought

Data from CoinGecko shows that BGB surged 23.3% in the last 24 hours, amid a week-long rally with nearly 40% in gains.

Crypto exchange Bitget's native cryptocurrency, Bitget Token (BGB), has surged to a new all-time high, breaking above the $6 mark and putting an end to a three-year drought for the token, which has failed to garner much attention in the past.

According to data from CoinGecko, BGB soared 23.3% in the last 24 hours, continuing a week-long rally that has seen the token gain nearly 40%.

Over the past 30 days, the token has also seen a significant climb, surging 264% in December as more crypto users take an interest in Bitget's native cryptocurrency.

BGB's chart shows that the token has not seen any major spikes since 2021. Bitget's token remained stagnant for two years before starting to make small gains in the second quarter of 2024.

Bitget Token did not attract attention from the crypto space until early December, when it began a steady surge from around $1.60. By Christmas Eve, the crypto asset was already trading at around $4.50.

The Bitget exchange has always been prominent in the crypto space, but it has yet to reach the levels of popularity that Binance, Bybit, Kraken, OKX, and a few other leading exchanges enjoy.

However, it has recently been making rounds around crypto communities due to several new project launches and big announcements.

One of the top news for Bitget in December was the milestone of its Bitget Builders program. The program, which fosters growth among individuals with a passion for crypto adoption, reached over 5,000 members from 55 participating countries.

Throughout the month, the exchange has also been launching several holiday-themed events, such as the On-chain Earn Carnival for users of Ethereum (ETH), SUI, and Cardano (ADA).

Ahead of Christmas Day, Bitget announced a partnership with Web3 payment infrastructure layer Fiat24 to boost global adoption of the Bitget Token. The collaboration will bridge the gap between traditional and decentralized finance (DeFi).

Bitget Global CEO Gracy Chen revealed Wednesday that by 2025, BGB holders will have "more benefits," and a new version of the BGB whitepaper will also be launched.

Holders of the BGB token are now expecting that the digital coin will only move up as the crypto space enters a new year.

Some are projecting a $100 billion market cap for the coin in 2025 – the said figure is a far shot from the token's current market cap of $8.7 billion.

Others expressed more decent visions, such as BGB hitting $10 sometime soon.

It is worth noting that Bitget Token is one of the few digital currencies that surged significantly in recent days even as the broader crypto space suffered stagnation just days after crypto leader Bitcoin hit a new all-time high.