Bitget, one of the fastest growing cryptocurrency exchanges, has announced an exciting new plan for its native token Bitget Token (BGB). The BGB token rose 20% in 24 hours after announcing its new white paper that would liquidate $5 billion token to reduce BGB supply.
Reducing the BGB supply will increase its value and utility across the crypto ecosystem. In its new whitepaper, Bitget announced that it will burn 800 million BGB tokens, representing 40% of the total supply. This will permanently reduce the circulating supply to 1.2 billion tokens. The token burn will begin immediately, with quarterly burns scheduled starting in 2025.
