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Bitget announces 40% burn of BGB after 100% rise
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THE Bitgetone of the world’s leading cryptocurrency exchanges, has revealed a bold plan to increase the value of its native token, the BGB. In its most recent white paper, the company announced the burning of 40% of total BGB supplythe equivalent of 800 million tokensevaluated in US$6.8 billion.
This strategy aims to reduce the circulating supply to 1.2 billion tokensincreasing scarcity and potentially boosting its market value.
The initiative is part of a series of changes aimed at strengthening the Bitget ecosystem and offering advantages to token holders. BGB users enjoy VIP privileges, fee discounts and exclusive access to token farming via Launchpool.
These advantages, combined with the burn plan, make the token more attractive to investors and cryptocurrency enthusiasts.
BGB: quarterly burn and buyback of tokens
From the beginning of 2025, Bitget will implement BGB quarterly burns. The plan includes the use of 20% of Bitget exchange and crypto wallet profits to buy and burn tokens directly from the market.
This approach not only reduces supply, but also demonstrates a commitment to leveraging value of BGB in a sustainable way.
On December 26, Bitget announced the merger between the tokens Bitget Token (BGB) and Bitget Wallet Token (BWB). THE BGB it is now the unified token that represents both the centralized and decentralized ecosystem of the platform.
According to the company, the merger will not affect the total supply of BGB, with a fixed conversion rate of 11.6 BWB to 1 BGB.
With the recent announcement of the burning and merging of tokens, BGB recorded a significant increase in 22% in 24 hoursleading the ranking of most valued altcoins.
In the last 7 days, according to data from CoinGecko, the token has already shown an increase of 100%consolidating itself as one of the most prominent assets in the cryptocurrency market.
Bitget announces 40% burn of BGB after 100% rise
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Bitget announces 40% burn of BGB after 100% rise
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Bitget announces 40% burn of BGB after 100% rise
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Bitget announces 40% burn of BGB after 100% rise
