Bitget Announces Q2 Burn of 30 Million BGB, Worth $138 Million.

Bitget announced that 30 million BGB, worth approximately $138 million, will be burned in Q2 2025. This accounts for 2.56% of the circulating supply. The burn mechanism is based on BGB's actual usage scenarios and linked to on-chain gas fees. BGB has a market capitalization of $5.1 billion and ranks 27th globally, third among CEX platform tokens.

Bitget Token (BGB), the native utility token of the Bitget exchange platform, has announced a significant token burn event scheduled for the second quarter of 2025. The burn will involve 30 million BGB tokens, worth approximately $138 million at current market prices. This event represents 2.56% of the circulating supply of BGB, which currently stands at 1.16 billion tokens.

The token burn mechanism is tied to BGB's actual usage scenarios and linked to on-chain gas fees. This means that as users engage with the Bitget platform and incur gas fees, a portion of the tokens used for these transactions will be burned, effectively reducing the total supply of BGB. This deflationary measure is intended to increase the scarcity and value of the token.

As of July 2025, BGB has a market capitalization of $5.1 billion, ranking it 27th globally and third among centralized exchange (CEX) platform tokens. The current price of BGB is $4.42, with a 24-hour trading volume of $120.52 million. The total supply of BGB is fixed at 1.16 billion tokens, with 1.16 billion tokens currently in circulation.

The token burn event is part of Bitget's strategy to enhance the value of BGB by reducing its supply. This move aligns with the broader trend of token burns in the cryptocurrency ecosystem, which aims to create scarcity and potentially drive up the price of the token.

Reference list:
[1] https://www.gate.com/price/bitget-token-bgb
[2] https://en.bitcoinsistemi.com/breaking-developers-of-this-altcoin-announce-that-a-1-trillion-token-burn-is-about-to-take-place/