Bitget , the world's leading cryptocurrency exchange and Web3 company, has announced a major update to the burning mechanism of its native token, Bitget Token (BGB), marking the beginning of a new era of utilitarian tokenomics.
Bitget , the world's leading cryptocurrency exchange and Web3 company, has announced a major update to the burning mechanism of its native token, Bitget Token (BGB), marking the beginning of a new era of utilitarian tokenomics.
The updated mechanism ties each quarterly token burn directly to on-chain BGB usage — specifically, the payment of transaction fees (gas fees) via Bitget Wallet’s GetGas wallets. This represents a move to a more transparent, sustainable, and regulatory-compliant model.
In Q1 2025, 6943.63 BGB were used to pay on-chain fees through GetGas accounts. According to the new formula, a total of 30,006,905 BGB will be burned this quarter, which is currently estimated to be approximately $120 million. All burn data, including transactions and wallet addresses, is publicly available on the blockchain, ensuring full transparency.
“BGB is becoming an important bridge between centralized and decentralized ecosystems. By tying the burning mechanism to real on-chain usage, we are driving growth and creating a sustainable tokenomics model,” commented Gracie Chen, CEO of Bitget.
The BGB token plays a key role in the Bitget ecosystem both on a centralized exchange and in a decentralized wallet. BGB holders can earn passive income through staking, participate in airdrops on Launchpool and PoolX, and open access to promising projects through Launchpad and LaunchX. In the on-chain space, BGB is used to pay multi-chain gas fees. Token holders also receive privileges such as VIP status and participation in the profits of elite traders.
Previously, in January 2025, Bitget permanently burned 800 million tokens owned by the project team — 40% of the total, reducing the total supply to 1.2 billion BGB, of which 100% is currently in circulation.
Launched in July 2021 at a price of 0.0585 USDT, BGB reached an all-time high of 8.5 USDT in December 2024, showing more than 100x growth. According to CoinMarketCap, it is among the top three CEX tokens by market capitalization and ranks in the top 30 cryptocurrencies in the world.
BGB's growth is underpinned by the strength of the Bitget ecosystem and user trust, according to Ryan Lee, chief analyst at Bitget Research.
“BGB’s performance directly reflects the expansion of the Bitget ecosystem and the steady growth of key business areas — a centralized exchange, wallet infrastructure, and a growing presence in the Web3 space. The token’s value is driven not by hype, but by real utility, demand for the platform, and the steady development of product solutions.
This growth is supported by the trust of Bitget users. Their continued activity contributes to both the spread of the token and its use, strengthening BGB’s position as one of the most effectively developing exchange tokens on the market.”
Amidst market volatility and a changing macroeconomic environment, Bitget remains focused on creating long-term value for BGB holders. The company's goal is to provide an efficient, reliable, and secure trading environment that encourages user participation and is able to adapt to new realities.
Given the current burn mechanism and market dynamics, a fair range for the token's valuation in the short term is $4 to $6.
Additional information can be found on the official Bitget website .
