BGB Sees Adoption Boost as Kraken Lists Token

Paul Adedoyin
1 hour ago
Paul Adedoyin is a crypto journalist with 4+ years experience who provides timely news, in-depth research, and insightful content to inform and empower his audience. His works have been featured on sites such as CryptoMode, CryptoNewsFlash among others. He holds a degree in Geophysics from OAU, Nigeria. When he's not writing, he loves watching soccer and reading educative journals. He can be reached via [email protected]
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Image showing Kraken logo after listing BGB Token

Highlights

  • Kraken exchange lists BGB token, boosting its regulated access and liquidity for traders globally.
  • BGB's role grows as a utility token for payments, governance, and ecosystem incentives.
  • Market data shows BGB price pullback despite broader exchange availability.

Top crypto exchange, Kraken, has confirmed that it will list the BGB token on its spot trading platform. Trading will commence on January 30, 15:00 UTC, enabling regulated market access and liquidity for BGB users globally.

Kraken Listing Expands BGB Token Access

In a post on X, Kraken said that qualified users will be able to access the token on its spot market upon listing. The exchange noted that jurisdiction limits will apply. BGB is the native utility token for the Morph Network and Bitget ecosystems.

Gracy Chen, the CEO of the top crypto exchange Bitget, commented on the listing in a post on X. She indicated that the BGB token will also be expanded to other crypto exchanges after this Kraken listing. The BGB token is already listed on exchanges such as MEXC, Bitfinex, and LBank. BGB can also be found on decentralized liquidity pools on Uniswap. Users can swap this token for another using supported on-chain pairs.

Colin Goltra, the CEO of Morph, stated that BGB’s growth depends not only on the platforms on which it is listed but also on where it is used. He added that on-chain finance needs infrastructure, accessibility, and liquidity. Hence, BGB’s suitability for governance and settlement makes it a reliable choice for this purpose.

BGB Price Shows Short-Term Pull Back

TradingView data shows that the BGB token is down on the day, trading at around $3.45. The token fell to an intraday low of $3.4 earlier today but has since recovered. This decline comes amid a massive crash in crypto prices, with Bitcoin dropping to a new yearly low of $81,000.

Further data from TradingView shows that the token is down over 6% in the last week and down year-to-date (YTD). This decline comes despite bullish fundamentals in the Bitget ecosystem, particularly the growth on its TradFi platform.

BGB token price chart
Source: TradingView

CoinGape recently reported that BitGet’s TradFi daily trading volume had reached $4 billion, as crypto traders continue to diversify beyond digital assets. This feat comes amid rising demand for commodities such as gold and silver, which recently reached new highs.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
Paul Adedoyin is a crypto journalist with 4+ years experience who provides timely news, in-depth research, and insightful content to inform and empower his audience. His works have been featured on sites such as CryptoMode, CryptoNewsFlash among others. He holds a degree in Geophysics from OAU, Nigeria. When he's not writing, he loves watching soccer and reading educative journals. He can be reached via [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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