Bitget launches first BGB perpetual futures with up to 50x leverage
Bitget launches first BGB perpetual futures with up to 50x leverage
Bitget, a prominent cryptocurrency exchange, has announced the introduction of its native token, Bitget Token (BGB), to its futures trading platform.
The BGBUSDT-M perpetual futures contract went live on July 8, 2024, and offers leverage up to 50x.
The BGB token, launched in July 2021, has a total supply of 2 billion tokens, with 1.4 billion currently in circulation. This token serves as a cornerstone of Bitget's ecosystem, providing numerous benefits to its holders. These perks include discounts on spot trading fees, free withdrawals, access to exclusive token sales or airdrops on Launchpad and Launchpool, and other platform-specific advantages.
In addition to the newly introduced futures trading, BGB can be traded on Bitget's spot and margin markets, used for copy trading, and utilized with trading bots. Moreover, BGB is listed on other major centralized exchanges, such as Bitfinex and MEXC, demonstrating its strong market performance. Notably, BGB reached a new all-time high of $1.4306 in early June 2024, reflecting a 141.4% increase over the past year.
Gracy Chen, CEO of Bitget, expressed enthusiasm about expanding BGB’s trading options: "We are thrilled to expand the trading options for BGB, offering our users more ways to benefit from Bitget's native token. The addition of BGB to the futures market, along with existing trading services and utilities, proves our commitment to providing a comprehensive, rewarding, and smart trading experience."
On July 1, Bitget upgraded the smart contract address for BGB. This enhancement aims to increase the token's utility and potential, facilitating its use in various decentralized applications (dApps) and supporting future listings on both centralized and decentralized exchanges. To celebrate the launch of the BGB perpetual futures, Bitget will host a series of competitions, offering a total of 20,000 BGB to its users.
The introduction of BGB perpetual futures with significant leverage options highlights Bitget's commitment to enhancing its platform and providing more opportunities for its users.
As BGB continues to gain traction, the utility and benefits it offers are likely to attract more users and drive further growth for Bitget.
See also: Bybit introduces Hamster Kombat (HMSTR) on Pre-Market Trading
