Bitget is ramping up its deflationary strategy for the BGB token by initiating large-scale token burns.
In today’s fiercely competitive centralized exchange market, could token burning become a key tool to enhance the intrinsic value of exchange-native tokens?
Bitget’s Token Burn Strategy
According to Bitget’s latest announcement, the exchange burned 30 million BGB tokens in Q1 2025. The BGB circulating supply decreased from 1.2 billion to approximately 1.17 billion tokens, a 2.5% drop.
On December 30, 2024, Bitget completed a massive burn of 800 million BGB, representing 40% of the token’s original total supply. This move reduced the BGB supply from 2 billion to 1.2 billion tokens.
Looking ahead, Bitget has outlined a long-term tokenomics roadmap beginning in 2025. The exchange will allocate 20% of profits from both the Bitget Exchange and Bitget Wallet to buy back and burn BGB every quarter—a strategic shift aimed at boosting the long-term value of BGB.
One of the most successful examples of token burns is Binance. According to BNB Burn Info, Binance has burned over 59 million BNB to date. This deflationary model has helped BNB surge from under $1 in 2017 to over $600 in 2024.
The ongoing reduction in BNB’s supply, paired with the strong ecosystem of Binance Smart Chain (BSC), has positioned BNB as one of the world’s most valuable exchange tokens. Bitget appears to be following in these footsteps—but the key question remains: Can BGB replicate BNB’s success story?
Is Burning BGB Enough to Boost Price Like BNB?
According to CoinGecko, BGB reached its all-time high (ATH) of $8.45 earlier in 2025. The burn of 800 million tokens at the end of 2024 created immediate scarcity, helping drive this price surge.
However, this figure still pales in comparison to BNB’s performance. To sustain and increase value, Bitget must go beyond reducing supply and significantly expand BGB’s real-world utility.
Starting in January 2025, BGB has become the primary token for multi-chain gas payments via Bitget Wallet’s GetGas feature. This allows users to pay gas fees on major blockchains like Ethereum, Solana, and BNB Chain using BGB, USDT, or USDC—eliminating the need for chain-specific gas tokens.
Additionally, Bitget integrates BGB into real-world payment scenarios through PayFi and the Bitget Card. The PayFi initiative aims to make BGB a practical payment method for daily expenses like dining, travel, and shopping.
This effort expands BGB’s utility beyond the blockchain and positions it as a bridge between decentralized finance (DeFi) and everyday life—echoing Binance’s ambitions for BNB.
While Bitget is on the right track, achieving BNB-level growth still poses significant challenges. First, Bitget’s ecosystem is smaller and less developed than Binance’s. Second, the actual adoption rate of new features like multi-chain gas payments and PayFi will directly influence BGB’s real-world demand.
Finally, while Binance has spent years building brand trust and a loyal user base, Bitget is still establishing its position in the market. To sustain long-term growth, Bitget must balance reducing supply and boosting demand through practical, real-world applications.
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