Bitget has executed a substantial token burn, permanently removing 130 million Bitget Tokens (BGB) from circulation.
The burn, equivalent to 2.5% of the total BGB supply, aims to enhance the token’s scarcity and long-term value for holders. The event occurred on April 16, 2025, and was publicly verified via blockchain transaction records.
BGB is the native token of the Bitget exchange, providing users with various benefits within the platform’s ecosystem, including discounted trading fees, access to exclusive promotions, and voting rights in governance decisions.
According to Bitget, the token burn aligns with its commitment to optimizing the BGB tokenomics and fostering a sustainable ecosystem. By reducing the total supply, the exchange intends to create a deflationary effect, potentially driving up the token’s value as demand increases or remains constant.
“Burning 130 million BGB demonstrates our dedication to the Bitget community and our confidence in the long-term potential of our platform,”
said Gracie Chen, Managing Director of Bitget.
“This move is designed to benefit our users by making BGB more scarce and valuable.”
Token burning is common among cryptocurrency projects seeking to control token supply and manage inflation. By permanently removing tokens from circulation, projects can create a supply-demand dynamic that supports price appreciation. Bitget has previously conducted token burns, and this latest event marks one of the most significant in the exchange’s history. The exchange says it will continue to evaluate its tokenomics and explore further measures to enhance the BGB ecosystem. The BGB token trades on major cryptocurrency exchanges, including Bitget, Binance, and KuCoin.
Meanwhile, Bitget has listed GOMBLE (GM) as the token of a Web3 gaming studio and is celebrating with a 15 million token reward campaign. This listing demonstrates Bitget’s dedication to supporting innovative projects merging gaming and blockchain technology. Furthermore, Bitget recently listed Wayfinder (PROMPT), an AI and blockchain initiative, showing interest in emerging technologies.
Source: DeFi Planet / Digpu NewsTex