The Bitget exchange’s BGB token is soaring after the company announced plans to burn 40% of the total supply. BGB surged as much as 23% to an all-time high of $8.45 before retracing. It trades at a fully diluted valuation (FDV) of $16 billion. The price spike comes a day after Bitget announced a merger between its exchange token, BGB, and its BWB wallet token. The new BGB token is up about 525% since the beginning of December. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
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