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Telecom

How Bitget’s BGB Became the Best Performing CEX Token in 2022

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Although the last year has undoubtedly been a bear market, some cryptocurrency trading platforms made a great job of proving that the success of exchange tokens is closely tied to the success of the platforms they represent. While the year was not entirely successful for the majority of them, Bitget still managed to successfully manoeuvre its way through the wreckage of both the Terra and FTX collapses. BGB token demonstrated positive yearly dynamics, raising the all-time high (ATH) price bar several times last year.

Bitget Token (BGB) — Biggest Winner From FTX Collapse

Source: CoinMarketCap

The BGB token turned out to be the only exchange token that stayed green all year round. The asset posted an unprecedented 136% year-over-year gain, with prices lifted in March and October and reaching its ATH of $0.4 on February 15, 2023.

Bitget massively benefited from the FTX collapse, increasing its share of the crypto derivatives trading market from 3% to 11%, according to the Token Insight report. A Boston Consulting Group report shows that in 2022, Bitget ranked among the top three crypto exchanges in terms of cryptocurrency derivatives trading volume, with a total trading volume growth of more than 300%.

As the Bitcoin options market sees whales opting for bullish strategies and amidst the market volatility in general, the demand for crypto derivatives as an instrument for hedging risks and earning stable profits is higher than ever. Since the second half of 2022, crypto derivatives volume has been growing faster than the spot market.

According to data from CryptoCompare, in January 2023, derivatives trading volume showed a monthly gain of 76% reaching $2.04 trillion, the largest percentage increase since 2021, and currently representing  70% of the entire crypto market.

The exchange’s foray into the spot market has been another contributing factor to the growth in the price of BGB. Bitget added AI (Artificial Intelligence), Arbitrum, and NFT zone listings to its Innovation Zone for early-stage exposure to related tokens. Within a week, 21 assets were listed in the Innovation Zone, while Future (AI) witnessed the biggest gain of 1263%.

Not only that. BGB token has reached its ATH several times over the past year driven by major partnerships, market expansion and the launch of pioneering products such as copy trading. It is noteworthy that in 2022 the token never dipped below the price of 2021, unlike other cryptocurrency exchange coins. In addition, BGB rallied impressively in October, breaking its price record after Bitget announced its partnership with prominent football player Lionel Messi.

The financial and technical stability of the exchange also played a big role in maintaining a stable price of its token throughout the year. Bitget is the only exchange among today’s top five that has never faced hacking attacks. The platform management did not reduce its staff, but indeed increased the number of employees by five times to 1,100 people in January 2023. This allowed the company to minimize the consequences of the market fall and show record financial and quantitative indicators in the new year.

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Telecom

Telcos Warn of Nationwide Telecom Blackout over Diesel Shortage

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Mr Tony Emoekpere, president, ATCON
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Association of Telecommunications Companies of Nigeria (ATCON), has raised the alarm over a diesel supply crisis caused by an ongoing strike by the National Union of Petroleum and Natural Gas Workers (NUPENG).

Telcos Warn of Nationwide Telecom Blackout over Diesel Shortage

Mr Tony Emoekpere, president, ATCON in a statement said that the fuel supply disruption is critically affecting telecom base stations, pushing them to the brink of a shutdown and threatening millions of mobile and internet users in the region.

“This strike, which stems from the persistent harassment of tanker and petroleum product drivers by police officers in Lagos State, has effectively halted all truck loading operations and fuel movements,” Emoekpere stated.

He explained that diesel supply to telecom infrastructure has been severely impacted, leaving critical sites with dangerously low fuel levels.

According to him, if urgent measures are not taken, the situation could escalate into a full-blown network blackout, disrupting essential services, including mobile and internet access, business operations, emergency response systems, and daily communications.

ATCON has called on the governors of Lagos and Ogun states to intervene immediately by facilitating the release of diesel from depots to telecom operators to prevent further deterioration of the situation.

“This is not just a telecom issue—it is a national emergency that could cripple economic activities and compromise public safety,” Emoekpere stressed.

The association also appealed to security agencies and petroleum unions to resolve the crisis swiftly to safeguard Nigeria’s connectivity and economic stability.

ATCON emphasised that a prolonged disruption in fuel supply to telecom infrastructure could have far-reaching consequences for both businesses and individuals who rely on stable communication networks for daily operations.

 

 

 


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Nigerians Spend N5.3 Trillion on Telecom Services

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In 2023, Nigerians spent a total of about ₦5.3 trillion on telecommunications services, which includes calls, data, SMS, and other telecom services, according to the Leadership.

Nigerians Spend N5.3 Trillion on Telecom Services

Specifically for voice calls, Nigerians made approximately 408.5 billion minutes of local calls, generating around ₦3.28 trillion from outgoing calls and ₦3.23 trillion from incoming calls, totaling about ₦6.51 trillion in call-related revenue according to projections based on 2023 call volumes and tariff data.

However, the ₦5.3 trillion figure represents the overall telecom sector revenue, with voice calls being a major component but also including data and other services.

For individual spending, MTN subscribers spent an average of ₦2,508 monthly on voice calls in 2023, showing a 14.4% increase from 2022, while Airtel customers spent about ₦1,694 monthly on voice calls.

Total telecom spending (calls, data, SMS, etc.): ₦5.3 trillion in 2023

Estimated revenue from voice calls alone: around ₦6.5 trillion based on call minutes and tariffs

Average monthly spending on calls per subscriber: ₦1,694 to ₦2,508 depending on the network

 

 

 


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MTN Chairman, Industry Leaders Honour Late Dr. Pascal Dozie’s Legacy at NGX Tribute

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Nigeria’s corporate elite gathered recently to bid farewell to one of the nation’s most influential business titans, Dr. Pascal Gabriel Dozie.

The Nigerian Exchange Group’s headquarters in Marina, Lagos, played host to an ‘Afternoon of Tributes’ that saw industry captains, financial moguls, and family members celebrate the extraordinary legacy of a man who helped reshape Nigeria’s economic landscape.

MTN Nigeria Chairman, Dr. Ernest Ndukwe, captured the mood of the gathering when he described the late Dozie as “a visionary leader, a true patriot, and a trailblazer” whose impact continues to reverberate across Nigeria’s business terrain.

“Thanks to his remarkable foresight and unwavering dedication, MTN Nigeria didn’t just find its footing—it soared,” Ndukwe told the distinguished audience.

“Today, it stands not only as the largest telecommunications company in the country but also as one of the most highly valued corporations on the NGX Premium Board.”

The symbolic bell-ringing ceremony—a highlight of the event—paid homage to Dozie’s pivotal role in transforming both Nigeria’s capital market and telecommunications sector.

Speaker after speaker painted the portrait of a man whose influence transcended conventional boundaries. Beyond founding Diamond Bank and steering MTN Nigeria to unprecedented heights, Dozie was celebrated for embodying the rare combination of business acumen and ethical leadership.

Throughout the afternoon, the late business icon was remembered not merely as a successful entrepreneur but as a nation-builder whose contributions spanned critical sectors from banking and telecoms to public policy and education.

More than his corporate achievements, however, it was Dozie’s personal qualities that dominated tributes—his uncompromising integrity, innovative thinking, disarming humility, and lifelong commitment to service.

As the event concluded, it became clear that the gathering was more than a memorial—it was a celebration of possibilities, a testament to what can be achieved when purpose meets passion and when leadership is firmly rooted in service to others.


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