Even though BGB continues to break new records, its market value still temporarily lags behind Bitget’s business growth, making the token undervalued. If the market is correct in its prediction that Bitget’s growth continues in the first quarter of 2025, both BGB’s price and other benefits to holders could become more significant.
Bitget and BGB are growing stronger
BGB reflects, to some extent, changes in the fundamentals of the Bitget platform. Over the past year, apart from memecoin, only a few tokens have managed to surpass BTC in terms of growth, and BGB is one of those that can match it. Despite BGB’s satisfactory growth, its market value is still undervalued.
Last week, Bitget’s 24-hour derivatives trading volume was $77 billion, ranking second in the market after Binance. Data.ai data shows that the Bitget app was downloaded 1.92 million times in October, ranking third in the global ranking of centralized exchange apps, behind only Binance and OKX. Meanwhile, data from Similarweb shows that the number of Bitget visits in October 2024 was 22.11 million, an increase of 266% compared to 6.039 million in October 2023.
Since September, Bitget has conducted as many as ten Launchpools, including ORDER, CEC, MAK, WAT, CATS, PUFFER, CROS, X, SWELL and PEAQ. Except for MAK, WAT and X, all of them had BGB pools. Each Launchpool lasted approximately 7 days and offered really high APRs for BGB holders.
Moreover, the profitability of the Bitget Launchpool has increased significantly in recent times. The prices of CROS, SWELL and PEAQ significantly exceeded market expectations before their debut. The community received BGB pools with very positive feedback.
The latest launch, Zircuit (ZRC), is a project backed by leading venture capital funds such as Binance Labs, Pantera Capital and Dragonfly. Such cooperation proves Bitget’s growing position on the market and its negotiating power in the eyes of projects. This, in turn, could mean that BGB is undervalued even with an ATH of $1.5.
About Bitget
Bitget is one of the leading cryptocurrency exchanges and Web3 companies in the world. Serving over 20 million users from over 100 countries, it facilitates smart trading with its innovative copy trading feature and a range of other trading tools. And Bitget Wallet, formerly known as BitKeep, is a comprehensive multi-chain cryptocurrency wallet that offers users access to a wide range of web3 solutions and features. The exchange works with trusted partners, such as legendary Argentine footballer Lionel Messi and eSports event organizer PGL, promoting the use of cryptocurrencies around the world.
More information can be found on the Bitget website and on their profiles at TwitterTikTok, Telegram, LinkedIn and Discord.
