Bitget Burns 30 Million BGB Tokens in Q1 2025—What It Mean for BGB Prices

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Bitget is out here playing the long game, and their strategy? Burning through BGB tokens like there’s no tomorrow.

In a world where exchanges are fighting tooth and nail for market dominance, one might wonder—can the humble act of burning tokens actually make an exchange-native coin more precious? Let’s dive in, shall we?

Bitget’s Token Burn Strategy

In an announcement that probably made BGB holders do a little happy dance, Bitget revealed that they torched a hefty 30 million BGB tokens in the first quarter of 2025. This move reduced the circulating supply from 1.2 billion to about 1.17 billion—an impressive 2.5% decrease. Talk about cutting down on the fat!

But wait, there’s more! Back in December 2024, Bitget didn’t just throw a few scraps into the fire. No, they burned a whopping 800 million BGB tokens—40% of the total supply at the time—slashing the token count from 2 billion down to 1.2 billion. It’s like they’re trying to make BGB rarer than a unicorn. 🦄

Looking ahead, Bitget’s got big plans. They’re pledging to allocate 20% of profits from both their exchange and wallet to buy back and burn BGB every quarter. It’s like they’re preparing BGB to take a nice long bath in some deflationary hot tub. 🍾

If you’re thinking, “Hmm, that sounds a little familiar,” you’re right. Binance, in its infinite wisdom, has burned more than 59 million BNB tokens. This constant supply reduction helped BNB skyrocket from under $1 in 2017 to more than $600 in 2024. So, what’s Bitget’s plan here? Can they replicate Binance’s success? That’s the million-dollar question.

Is Burning BGB Enough to Boost Price Like BNB?

Well, according to CoinGecko, BGB reached a shiny all-time high (ATH) of $8.45 earlier in 2025. A direct result of that grand burn at the end of 2024, which created an immediate sense of scarcity. But, let’s be real—BGB’s performance still looks like a cute little puppy compared to the roaring lion that is BNB.

So, can Bitget’s token burn alone send BGB to the moon? Probably not. If they want to keep the momentum, they’ll need to do more than just burn tokens. It’s time to make BGB as useful as a Swiss army knife.

Starting in January 2025, BGB became the go-to token for multi-chain gas payments via Bitget Wallet’s new GetGas feature. So now, users can pay gas fees on major blockchains like Ethereum, Solana, and BNB Chain with—yep, you guessed it—BGB. Gone are the days of hunting down the right gas tokens. 🌐💰

But wait, there’s more. BGB is also stepping into real-world payments through PayFi and the Bitget Card. Picture this: paying for your coffee, your flight tickets, or your latest shopping spree with BGB. It’s practically a crypto revolution disguised as a plastic card. 😎

So, Bitget’s on the right path, no doubt. But let’s not kid ourselves—catching up to Binance will take more than a couple of token burns and a spiffy wallet feature. Bitget’s ecosystem is still a baby compared to Binance’s towering structure, and user adoption of all these new features will be the deciding factor. The truth? BGB needs to prove it’s more than just a hot trend.

Finally, while Binance has spent years cultivating trust and a fanbase, Bitget is still shaking hands and kissing babies to get its name out there. For BGB to truly soar, Bitget will have to balance cutting supply with increasing demand in real, tangible ways.

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2025-04-09 13:48