Bitget Global has announced groundbreaking changes for its native token, $BGB, aiming to strengthen its ecosystem and utility.
The platform plans to burn 40% of the $BGB supply—approximately 800 million tokens valued at $6.8 billion. This significant reduction will lower the total supply to 1.2 billion tokens, achieving 100% circulation.
.@bitgetglobal announces plans to burn 40% of its $BGB token supply (~800M tokens worth $6.8B).
Starting 2025, quarterly burns will allocate 20% of profits for buybacks.
Also, $BWB will merge into $BGB with a 11.68:1 exchange rate.$BGB is now the #16 largest crypto by… pic.twitter.com/Y1PWmyqYV8
— Satoshi Club (@esatoshiclub) December 27, 2024
Starting in 2025, Bitget will initiate quarterly burns, allocating 20% of platform profits for buybacks. This move aligns with the exchange’s commitment to enhancing the token’s scarcity and long-term value.
嗯？这么巧的吗，刚发完 BGB 的销毁机制就来了😂
更新下：首次销毁将一次性销毁核心团队持有的8亿枚BGB，占总供应量的40%；销毁后 $BGB 的总供应量将减少为 12 亿，且 100%全流通
后续将在 2025 年开启季度销毁，拿出利润的 20% 进行回购和销毁🔍https://t.co/jPAMsuXUWr
— Ai 姨 (@ai_9684xtpa) December 27, 2024
Additionally, Bitget is set to merge its $BWB token into $BGB at a conversion rate of 11.68:1, consolidating its token offerings under one powerful asset. Following these developments, $BGB has climbed to the 16th largest cryptocurrency by market cap, reflecting growing investor confidence.
In January, $BGB will debut as a gas token for GetGas, enabling seamless multi-chain gas fee payments. This utility upgrade aims to streamline multi-chain operations for users. With $BGB, users will soon enjoy:
– Cross-Chain Gas Payments: Effortless transactions across multiple blockchains.
– Simplified Interactions: Enhanced multi-chain transfers, swaps, and DApp usability.
Bitget’s ambitious roadmap underscores its commitment to innovation and expanding $BGB’s role in the crypto ecosystem. By reducing supply, merging tokens, and boosting utility, the platform is positioning $BGB as a key asset for Web3 and decentralized finance.
These developments could reshape how traders and developers interact with blockchain networks, making $BGB a token to watch in the coming year. As 2025 approaches, Bitget’s vision for $BGB promises to deliver both growth and utility for its community.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or using any service.
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