Bitget to Burn $138 Million Worth of Its BGB Token in Q2 Burn Event

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 the crypto token’s total supply from circulation, which is worth approximately $138 million based on the average price over the considered period.

The token burn exercise will bring the total ratio of BGB removed from circulation in the first half of 2025 to 5% of the total supply. Bitget reports that the process aligns with its strategy for growing BGB, the crypto platform’s native token.

BGB’s Growing Utility and Market Strength

It is worth noting that BGB’s fundamental metrics support its emergence as one of the top-performing cryptocurrencies in 2025. For instance, it has maintained a relatively high trading volume and market capitalization while experiencing several strategic upgrades. According to a Bitget report, the cryptocurrency is rapidly evolving into a core asset within the crypto platform’s ecosystem.

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In the meantime, BGB has become a highly demanded digital asset for utility across several Bitget platform features, fueling the growth and popularity of the crypto asset. Some areas where BGB has found implementation include staking, fee discounts, launchpad access, and exclusive campaign eligibility.

Bitget’s latest assessment of its ecosystem reveals it has over 120 million users within its ecosystem, forming the backbone of the BGB adoption. The cryptocurrency remains the pillar of support for Bitget users by running its infrastructure and enhancing incentivization and liquidity across various products.

A Pre-Planned Deflationary Mechanism

For context, the upcoming BGB burn exercise is part of a pre-planned program that Bitget executes every quarter. It removes a portion of circulating tokens based on revenue performance and the cryptocurrency’s usage on the platform.

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Bitget’s CEO, Gracy Chen, considers BGB the “best-performing CEX token” and notes that its growing utility and deflationary design are key indicators of the digital asset’s long-term potential.