Bitget PoolX Launches UP Campaign With 1.25M Tokens for ETH Lockups

Bitget has launched a PoolX campaign allocating 1.25 million UP tokens to users who lock ETH on its exchange. ETH is the sole lockup asset and rewards are distributed proportionally based on each participant’s amount and lockup duration. The promotion may pull ETH into exchange lockups, temporarily reducing available on-exchange liquidity and incentivizing deposit activity on Bitget, though individual allocations could be small if many users participate. Traders should confirm campaign window, lockup duration, allocation caps and distribution timing on Bitget’s support page before committing ETH, as locked ETH cannot be traded during the period and carries opportunity cost. Overall the event is an exchange-driven token distribution (user acquisition/liquidity flow) with neutral market implications for ETH absent large-scale lockups or secondary-market demand for UP.