Bitget to Burn $138 Million Worth of Its BGB Token in Q2 Burn Event
Main Idea
Bitget plans to burn 30,001,053.1 BGB tokens, worth approximately $138 million, in Q2 2025, removing 2.56% of the token's total supply from circulation.
Key Points
1. The burn event will bring the total ratio of BGB removed from circulation in the first half of 2025 to 5% of the total supply.
2. BGB has been one of the top-performing cryptocurrencies in 2025, with growing utility and market demand.
3. The burn is part of Bitget's pre-planned quarterly program to reduce circulating tokens.
4. Bitget's CEO, Gracy Chen, considers BGB the 'best-performing CEX token' and highlights its long-term potential.
Description
Bitget will burn over 30 million BGB tokens, worth about $138 million, for Q2 2025 This deflationary event will permanently remove 2.56% of the token’s total supply from circulation The quarterly burn is a key part of Bitget’s strategy to increase scarcity and value for its native token Bitget , a leading cryptocurrency exchange and Web3 company, plans to continue growing its ecosystem token, BGB, by burning 30,001,053.1 units of the cryptocurrency in Q2 2025. That would imply removing 2.56% of ...
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