Bitget Burns 220M BGB Worth 1.09B And Locks More Supply

Bitget just made one of its biggest moves yet with BGB. The exchange carried out a token burn of 220 million BGB, removing tokens worth about 1.09 billion dollars from circulation forever. Alongside that, another 220 million tokens were locked in a new wallet, scheduled to vest at just 2 percent each month. That slow release is meant to fund liquidity, ecosystem growth, and education, rather than letting too much supply hit the market at once. Together, the burn and the lock immediately cut circulating supply by almost 19 percent, which is a significant adjustment for any governance token.

Strategic Partnership With Morph Boosts BGB Utility

What makes this more than just a deflationary play is the new strategic partnership with Morph. BGB has been positioned as the gas and governance token on the Morph network. In practice, that means every transaction on Morph will require BGB, and holders will use it to participate in governance votes. The Morph Foundation, a nonprofit, now takes control of the treasury and has committed to linking future token burn events directly to network activity. The goal is to eventually reduce the total supply down to 100 million. That’s a level of scarcity that could create long-term pressure on value while aligning token supply with actual usage.

Market Reaction to Token Burn and New Utility

BGB’s price jumped nearly 14 percent in just 24 hours, hitting 5.28 dollars, the highest in more than a month. Trading volume also spiked by 307 percent, reaching close to 290 million dollars. That kind of increase shows traders are responding to both the scarcity effect of the token burn and the new utility that comes from becoming a network’s native asset. High trading volume often signals conviction, not just speculation, which makes this reaction noteworthy.

How Token Burns Work Across Leading Networks

The wider context is important too. Token burn mechanisms are not new, but their impact depends on execution. Binance Coin uses quarterly burns based on trading fees until supply hits 100 million. Ethereum has its EIP-1559 model, which automatically burns a portion of every transaction fee. Tron occasionally burns based on community votes or network milestones. In each case, the deflationary element supports scarcity while reinforcing token value through real activity. What stands out with BGB is how tightly the burn is tied to Morph’s usage and how a strategic partnership is being used to drive both adoption and governance.

Nonprofit Treasury Control and Governance Shift

Giving management of the treasury to a nonprofit foundation is also a signal of intent. All of this combines into a repositioning of BGB. It is no longer just a utility token for an exchange. With the token burn, the shrinking total supply, and its new role as a gas and governance token, it has become central to Morph’s ecosystem. The surge in trading volume and the immediate market reaction suggest investors are already treating it differently. If Morph succeeds in driving adoption of its network, demand for BGB could grow while supply keeps shrinking. That mix has usually worked out well for token prices. But it also makes long-term governance matter more, because every holder now plays a direct role in shaping the ecosystem’s future.