Bitget’s NYSE:BGB token has captured the spotlight in the crypto world, surging over 20% following the announcement of an 800 million token burn. This development, coupled with the release of a new white paper, has positioned NYSE:BGB as a token to watch in the evolving crypto landscape. 1. The 800M Token Burn Plan Bitget’s new white paper reveals an ambitious plan to burn 800 million NYSE:BGB tokens held by the core team. This move represents the destruction of nearly 40% of the token’s total supply, reducing the circulating supply from 2 billion to 1.2 billion. Such a drastic reduction in supply is expected to generate a significant bullish impact by adhering to the economic principle of supply and demand. The total value of the tokens set to be burned exceeds $5 billion. Additionally, Bitget has committed to repurchasing and burning tokens equivalent to 20% of its quarterly profits from its exchange and wallet businesses starting in 2025. This proactive approach is aimed at bolstering BGB’s long-term tokenomics. 2. Strategic Ecosystem Developments The white paper also introduces a merger of Bitget Wallet Token (BWB) with BGB, aimed at streamlining the ecosystem. This move not only simplifies the platform’s token structure but also fosters a unified community, further enhancing the utility and adoption of BGB. 3. Utility and Use Cases BGB is Bitget’s native utility token, launched in July 2021. Its use cases include staking, social trading, profit sharing, and discounts on trading fees. BGB holders can also participate in platform initiatives like launchpads and launchpools, adding to its appeal among active traders. Technical Analysis At the time of writing, NYSE:BGB is trading at $8.359, up 15.15% on the day, with an intraday high of $8.49. This bullish trajectory aligns with the market’s positive reception to the token burn announcement and other ecosystem updates. Despite the euphoria, technical indicators suggest caution. The Relative Strength Index (RSI) is at 85, signaling an overbought condition. Traders are advised to wait for a confirmation trend above the one-month high before entering long positions. A pullback could test the 38.2% Fibonacci retracement level, which may act as a clearing field or shake out weaker hands before a potential rebound. Bullish Continuation Potential The current candlestick formation indicates a potential bullish continuation, but confirmation through a breakout pattern is crucial. If the breakout materializes, NYSE:BGB could target new resistance levels, making it a promising asset for short-term and long-term gains. Market Performance BGB’s 24-hour trading volume stands at $780,650,069, with a live market cap of $11.59 billion, ranking it #16 on CoinMarketCap. The token’s significant liquidity and trading activity highlight its growing adoption and market interest. Price Comparisons BGB’s price increase of over 30% in the last 24 hours has defied broader market trends, outperforming other top tokens. This resilience underscores its potential as a standout performer in the current market environment. Conclusion Bitget’s BGB token is poised for continued growth, fueled by strategic developments like the 800 million token burn and ecosystem enhancements. While technical indicators advise caution due to overbought conditions, the token’s robust fundamentals and community-driven initiatives provide a strong foundation for long-term value. Investors should monitor key levels, such as the 38.2% Fibonacci retracement support and the one-month high resistance, for potential trading opportunities. As Bitget continues to innovate and expand its ecosystem, BGB remains a compelling investment in the crypto space.
?First of all, I want to wish everyone a Merry Christmas , I wish you all the best moments . As I expected , Gold ( OANDA:XAUUSD ) reached the upper area of the Resistance zone($2,642-$2,620) . Gold is moving in the Resistance zone($2,642-$2,620) , near the 50_EMA(Daily) . (It has also succeeded in breaking the Uptrend line ). According to the theory of Elliott waves , it seems that Gold has successfully completed the Double Three Correction(WXY) in the Ascending Channel . Also, Regular Divergence(RD-) between Consecutive Peaks . I expect Gold to attack the lower line of the ascending channel AFTER breaking the Support line . ⚠️Note: If Gold breaks the 50_EMA(Daily) and Resistance zone($2,642-$2,620), we should expect Gold to rise further.⚠️ ?Be sure to follow the updated ideas.? Gold Analyze ( XAUUSD ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button ?? & Share it with your friends; thanks, and Trade safe.
After overcoming the highs for this year, the trend suggests recovering the demand zones with force… be happy
NVDA Seems Bearish Major Support Zone 116-120 Bullish Support taken at 50% Fib of Current Rally Bullish Flag is formed on daily chart (Flag breakout Target is 215) Divergence on Weekly Chart is diluted. Bearish Making Lower Lows Spining top at possible lower High Resistance from Channel Top Major Support at 116-120 Area In Last 15 years 8 times Janaury was bearish
Down to VAL = everyone bearish then a Rise to Vah + GP = 120k on a table lets gooo = drop to 85-80k region
I believe that is how I see it, if you think that I need to rethink, please let me know! I hope you profit patiently.
Hello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price some time ago reached a resistance level, which coincided with the seller zone and broke it. After this, the price rose to 2721 points and then made an impulse down to the support level, which coincided with the support line of the wedge, breaking the resistance level. Next, Gold started to trades inside the range, where it rose to the 2665 resistance level, but then made a correction to the bottom part of the range. After this movement, the price started to grow and reached the resistance level again, and even broke it, thereby exiting from the range and continuing to move up. Price rose to the resistance line of the wedge, turned around, and quickly dropped below the resistance level, breaking it again. Later price fell to the support line of the wedge, breaking the support level, but a not long time ago it rebounded up the top resistance line, breaking the 2605 level one more time. At the moment, I think that the price can rebound from the resistance line and start to decline to the support line of the wedge pattern, breaking the support level. For this case, I set my TP at 2575 points. Please share this idea with your friends and click Boost ?
Since you enjoyed my previous post about 3 Crypto OGs to watch this month... https://www.tradingview.com/chart/LINKUSDT/D2rk2jjV-3-Crypto-OGs-to-watch-this-month/ Here's an interesting one about 3 Emerging Crypto to watch in 2025: BINANCE:ARBUSDT ARB rejected a strong a strong support and demand zone marked in red. Waiting for a break above $0.85 structure marked in blue to activate the next bullish impulse towards the $1.5 mark.? BINANCE:TIAUSDT TIA rejected a strong a strong support and demand zone marked in red. Waiting for a break above $5.7 structure marked in blue to activate the next bullish impulse towards the $10 mark.? BINANCE:MKRUSDT MKR rejected a strong a strong support and demand zone marked in red. Waiting for a break above $1700 structure marked in blue to activate the next bullish impulse towards the $2500 mark.? Which altcoins would you like me to cover next? All Strategies Are Good; If Managed Properly! ~Rich
Hello friends. Please support my work by clicking the LIKE button?(If you liked). Everything on the chart. Entry zone: market and lower Targets: 3 - 5 - 7 after first target reached move ur stop to breakeven Stop: (depending of ur risk). ALWAYS follow ur RM risk is justified It's not financial advice. DYOR!
As the week is ending in exactly 10 hours, i'm expecting this move to occur. A drop to the exact entry level into a push to the upside. Entry may be front runned but i like to keep w/l ratio nice and tight.