BGB Token Prices Dropped Drastically Up to 50% in 5 Minutes!

Bittime - Today, the price of BGB tokens dropped drastically in a short period of time, sparking panic among users. 

Bitget has also taken this incident seriously and promised a thorough investigation and compensation for those affected. Read this article to find out more!

BGB Token Prices Dropped Drastically 

This morning, around 10:53 to 10:58, the price of the BGB token experienced a very significant drop, more than 50% in a matter of minutes. Previously, the BGB token price was in a stable range, but suddenly fell to touch $0.5344. 

This drastic decline clearly raises concerns for users and investors who hold BGB tokens, considering that this unusual volatility occurred in a very short time.

Read Also: Ethereum Price Rises 15% in a Week, Can it Break the $3K Level?  

BGB Token Prices Dropped Drastically, Bitget Conducts Investigation

This situation has led to various speculations and questions about what is causing the price of BGB tokens to fluctuate so sharply. There are suggestions that this incident may have been caused by external factors or market manipulation,

Bitget, as the platform responsible for the BGB token, said it would immediately begin a thorough investigation to allay the concerns of users and investors.

Compensation Plan After BGB Token Prices Dropped Drastically 

Apart from conducting investigations, Bitget also plans to provide compensation to users and investors who experienced losses due to the decline in the price of the BGB token. 

Xie Jiayin, director of Bitget for the China region, stated that Bitget will develop appropriate compensation plans for users who are directly affected by the price fluctuations of BGB tokens. I 

Users who engaged in transactions during the period of such BGB token price fluctuations are expected to remain calm as Bitget is processing the data and preparing a compensation plan. 

Read Also: Bitcoin Price Predicted to Reach New ATH Later This Year  

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