Why did the price of BGB go up?

Bitget Token (BGB) increased by 0.66% to $4.67 in the last 24 hours, outperforming the overall crypto market’s 1.17% rise. This growth is driven by strategic token burns, expanded uses for BGB, and stronger trust in the platform.

1. Token Burns & Lockups – 220 million BGB tokens were burned and another 220 million locked through a partnership with Morph, reducing the available supply.
2. Expanded Use Cases – BGB is now used to pay transaction fees and participate in governance on the Morph Chain, plus it’s integrated into Bitget Wallet’s new cross-chain feature (EIP-7702).
3. Stronger Reserves – Bitget’s updated Proof of Reserves shows a 187% reserve ratio, boosting investor confidence.
4. Technical Support – The price remains stable above important Fibonacci retracement levels, indicating support.

In-Depth Analysis

1. Supply Reduction Through Morph Partnership (Positive for Price)

On September 3, Bitget sent 440 million BGB tokens to the Morph Foundation. Half of these (220 million) were immediately burned, permanently removing them from circulation. The other half (220 million) were locked, with only 2% released each month. This action cuts about 24% of BGB’s total supply, lowering the number of tokens available to trade.

Why it matters: Burning tokens reduces selling pressure, while locking tokens encourages long-term holding. The circulating supply dropped from 919 million to 696 million tokens, making BGB scarcer. Morph also introduced a new burn mechanism tied to on-chain activity, which could keep reducing supply over time.

What to watch: Keep an eye on Morph Chain’s adoption metrics like total value locked (TVL) and transaction volume to see how quickly tokens are burned.

2. BGB’s Growing Role as a Gas Token (Mixed Effects)

Since September 3, BGB has been used as the gas (transaction fee) and governance token on Morph Chain. On October 21, Bitget Wallet added support for paying gas fees with BGB through the EIP-7702 update, which simplifies cross-chain transactions.

Why it matters: Morph Chain focuses on consumer finance applications like payments and decentralized finance (DeFi), which could increase demand for BGB. However, Morph’s current TVL is relatively low at $18 million (as of September), so the immediate impact is limited. The new wallet feature could encourage more on-chain use of BGB.

What to watch: Monitor Morph’s progress on its Q4 roadmap and growth in Bitget Wallet users.

3. Proof of Reserves Update Builds Trust (Positive for Market Sentiment)

On October 22, Bitget released an updated Proof of Reserves report showing a reserve ratio of 187%, backed by a $300 million Protection Fund. This means Bitget holds nearly double the assets needed to cover user funds.

Why it matters: In a market currently showing “Fear” (Crypto Fear & Greed Index at 34), this transparency helps reassure investors. BGB’s 24-hour trading volume relative to market cap is about 2%, indicating moderate liquidity and investor interest.

Conclusion

BGB’s recent price increase reflects a combination of reduced token supply, expanded utility, and improved transparency from Bitget. Technical analysis shows resistance near $4.90, but the reduced supply and Morph’s potential growth suggest room for further gains in the medium term.

Key indicators to watch: Morph Chain’s TVL growth and BGB’s Relative Strength Index (RSI) moving above 50 (currently at 43).

What could affect the price of BGB?

Bitget Token (BGB) balances its role as a key exchange token with new opportunities from Morph’s Web3 platform.

1. Morph Integration – 440 million BGB tokens moved to Morph, with 220 million burned to reduce supply.
2. Burn Mechanism – Token burns now depend on Morph’s activity, aiming to lower total supply to 100 million.
3. Exchange Growth – Bitget’s strong trading volumes support BGB’s usefulness on the platform.

In-Depth Look

1. Morph Chain Adoption (Positive Outlook)

What happened: In September 2025, BGB became the main token for Morph’s Layer 2 blockchain, used for transaction fees and governance. Bitget transferred 440 million BGB tokens to Morph, burning half (220 million) and locking the rest. Morph focuses on consumer finance and payment solutions, with backing from investors like Dragonfly and Pantera.
Why it matters: Burning 220 million tokens reduces the number of BGB tokens available, which can increase value. Plus, using BGB for fees and apps on Morph adds new ways to use the token. Morph currently holds $150 million in total value locked (TVL), showing growing interest that could boost demand for BGB as the main token on this platform. Learn more

2. Burn Mechanism Changes (Mixed Impact)

What happened: After partnering with Morph, BGB token burns are now linked to how much the Morph blockchain is used, instead of happening on a fixed schedule. In the second quarter of 2025, 30 million BGB were burned, worth about $138 million. Future burns depend on how popular Morph becomes.
Why it matters: If Morph’s usage grows, more tokens will be burned, helping reduce supply and support the token’s value. But if adoption is slow, the expected reduction in tokens might not happen, which could limit price gains. See Q2 Burn Report

3. Exchange Competition (Potential Challenges)

What happened: Bitget is the 4th largest crypto exchange globally, with $2.08 trillion in trading volume in Q1 2025. However, it faces strong competition from exchanges like Binance (BNB) and OKX (OKB). Recently, BGB’s price rose 0.57% in 24 hours, while OKB surged 15% after positive ETF news in October 2025.
Why it matters: For BGB to keep its value and benefits like fee discounts and Launchpool rewards, Bitget needs to keep growing its user base beyond 20 million. Losing market share to bigger exchanges could reduce demand for BGB tokens. Exchange Rankings

Conclusion

The future of Bitget Token (BGB) depends on how well Morph’s Web3 platform grows and Bitget’s ability to keep traders engaged despite Bitcoin’s dominance. The 220 million BGB tokens locked with a 2% monthly unlock schedule could put downward pressure on prices if Morph adoption slows. The big question is whether Morph’s planned mainnet upgrades in late 2025 will help BGB evolve from just an exchange token to a key Layer 2 blockchain asset.

What are people saying about BGB?

The Bitget Token (BGB) community is divided between excitement over aggressive token burns and concerns about large holders controlling the market. Here’s what’s trending:

1. Token burns – 30 million BGB tokens (worth about $138 million) were burned in the second quarter of 2025, creating scarcity and potentially boosting value 🔥
2. Morph partnership – BGB is now used as a gas and governance token, but 220 million tokens are locked for 50 months, limiting immediate supply 🔒
3. Passive income – Holders can earn up to 329% annual percentage yield (APY) by staking BGB through Launchpool programs 📈
4. Price targets – Analysts are split, with some predicting $6 by 2025 and others forecasting $100 by 2030 🎯

Deep Dive

1. @BitgetGlobal: Q2 2025 Burn Mechanics

"30 million BGB burned (2.56% of total supply) plus 220 million locked for Morph incentives. Burns are now linked to on-chain gas usage."
– @BitgetGlobal (4.2M followers · 12.1K impressions · July 10, 2025)
View original post
What this means: The token burns are positive for BGB’s scarcity, with 5% of the supply removed in the first half of 2025. However, the gradual unlocking of Morph tokens (about 2% per month) could increase supply and offset these gains if demand doesn’t keep up.

2. @MrCryptoceek: Passive Income Frenzy

"Stake 10,000 BGB to earn 329% APY on ZKF! July’s Launchpool rewards outperformed Binance by 53%."
– @MrCryptoceek (89K followers · 3.4K impressions · August 30, 2025)
View original post
What this means: The high yields are attracting more holders to stake their tokens. However, the long-term sustainability depends on Bitget maintaining strong Launchpool programs as the total value locked (TVL) grows.

3. @CCN: $13 Price Target Post-Morph

"BGB broke out of a symmetrical triangle resistance. Next price targets are $6.80 (Fibonacci 0.786 level), then $13.45 if Bitcoin holds $108,000."
– CCN (3.1M readers · September 3, 2025)
View original analysis
What this means: Technical analysis shows bullish momentum, but 72% of BGB’s supply is held by the top 10 wallets (AMBCrypto), which could cause price swings if large holders decide to sell.

Conclusion

The overall outlook on BGB is cautiously optimistic. The deflationary token burns and Morph’s integration into Web3 add value, but risks remain due to token concentration among whales and broader economic uncertainties. Keep an eye on the $4.30–$5.20 price range — a sustained move above $5.20 could confirm the $6 price target, while failure to break out might lead to retesting July’s lows.

To see how Morph’s mainnet upgrades in Q4 2025 affect BGB’s utility, monitor on-chain gas usage at Morphscan.

What is the latest news about BGB?

Bitget Token (BGB) is growing its ecosystem while strengthening security. Here are the key updates:

1. Universal Exchange Launch (October 24, 2025) – Bitget’s new Universal Exchange (UEX) brings together multiple types of assets, making BGB more useful.
2. Proof of Reserves Update (October 22, 2025) – Bitget’s reserves are now 187% of user assets, boosting confidence in asset safety.
3. EIP-7702 Wallet Integration (October 21, 2025) – BGB can now be used to pay transaction fees on 8+ blockchains, making it easier to use.

Deep Dive

1. Universal Exchange Launch (October 24, 2025)

What happened:
Bitget introduced its Universal Exchange (UEX) in the third quarter of 2025. This platform combines spot trading, futures, and real-world assets all in one place. BGB acts as the “gas” token for Morph Chain (Bitget’s Layer 2 partner) and unlocks benefits like lower fees and rewards through Launchpool.

Why it matters:
This update makes BGB more than just a token for Bitget’s exchange—it now supports trading across different blockchains and offers features suitable for professional traders. More activity on the platform could also lead to more BGB tokens being permanently removed from circulation (30 million BGB were burned in Q2 2025). (Bitcoin.com)

2. Proof of Reserves Update (October 22, 2025)

What happened:
Bitget’s latest Proof of Reserves report shows it holds 187% of the assets needed to cover all user funds, backed by $735 million in its Protection Fund. This is verified using open-source tools called MerkleValidator.

Why it matters:
Having more reserves than user assets reduces the risk of the exchange running out of funds, which is especially important after recent exchange failures in the industry. Despite this, BGB’s price has dropped 12% over the past month, indicating some investors remain cautious. (Bitget)

3. EIP-7702 Wallet Integration (October 21, 2025)

What happened:
Bitget Wallet now supports Ethereum’s EIP-7702 standard, allowing users to pay transaction fees using BGB, USDT, or USDC on Ethereum, Solana, and six other blockchains. This means users don’t have to hold the native blockchain tokens to complete transactions.

Why it matters:
This makes BGB more versatile as it can be used to pay fees across multiple networks, potentially increasing demand. However, similar features from competitors like MetaMask and OKX might limit how much this helps BGB grow. (The Block)

Conclusion

Bitget Token’s roadmap focuses on increasing its usefulness (through UEX and easier fee payments) and building trust (with strong reserve audits). Still, challenges like overall market conditions and many competing exchange tokens have caused BGB’s price to drop 12% in the last month. The big question is whether wider use of Morph Chain and growing UEX trading volume will help BGB bounce back.

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What is expected in the development of BGB?

Bitget Token (BGB) is focusing on increasing its usefulness and reducing the total number of tokens available by forming key partnerships and growing its ecosystem.

1. Morph Chain Integration (September 2025) – BGB will become the main token for paying fees and voting on decisions in the Morph blockchain. 220 million BGB tokens were burned, and another 220 million are locked.
2. Dynamic Burn Mechanism (Ongoing) – Tokens will continue to be burned based on activity on the Morph network until only 100 million remain.
3. PayFi Real-World Expansion (Q4 2025) – BGB will be accepted for payments in travel, dining, and shopping through partnerships with global payment providers.

Deep Dive

1. Morph Chain Integration (September 2025)

What happened: Bitget teamed up with Morph, a Layer 2 blockchain designed for everyday users, to make BGB the token used for transaction fees and governance (voting on network decisions). In September 2025, the Morph Foundation burned 220 million BGB tokens (about 20% of all tokens) and locked another 220 million, releasing a small portion monthly to support the ecosystem.

Why it matters:

• Positive: This gives BGB more real-world use, encouraging developers and users to join Morph’s network.
• Risk: The success depends on how well Morph competes with other Layer 2 blockchains like Arbitrum.

2. Dynamic Burn Mechanism (Ongoing)

What happened: The burning of BGB tokens is now linked to how much the Morph network is used—more transactions and fees mean more tokens are burned. The goal is to reduce the total supply from about 1.1 billion tokens down to 100 million. For example, in the second quarter of 2025, 30 million BGB tokens worth $138 million were burned.

Why it matters:

• Positive: Reducing the supply faster can make each remaining token more valuable if demand stays strong.
• Risk: If Morph doesn’t grow as expected, fewer tokens will be burned, slowing down supply reduction.

3. PayFi Real-World Expansion (Q4 2025)

What’s planned: Bitget will add BGB to its PayFi payment system, allowing people to use the token for everyday purchases like travel, dining, and shopping through partnerships with global payment companies.

Why it matters:

• Positive: Real-world uses can attract more everyday users and create steady demand for BGB.
• Risk: Working with traditional financial systems means dealing with regulations that could delay this rollout.

Conclusion

Bitget Token’s roadmap aims to increase its usefulness through governance and payments while reducing the total supply to create scarcity. This strategy could increase BGB’s value over time. However, challenges remain, especially around how well Morph is adopted and navigating regulatory requirements. The big question is: Can BGB’s real-world payment integration grow faster than competitors like BNB?

What updates are there in the BGB code base?

Bitget Token’s (BGB) technology is evolving with smart updates that improve how the token works and how transparent the system is.

1. Burn Mechanism Upgrade (April 2025) – Token burns are now linked to actual network usage, making the token supply adjust dynamically.
2. Chainlink PoR Integration (August 2025) – Real-time verification of token reserves boosts trust and transparency.

Deep Dive

1. Burn Mechanism Upgrade (April 2025)

What happened: Bitget changed how BGB tokens are burned (permanently removed from circulation). Instead of burning a fixed amount regularly, the burn amount now depends on how much the network is used, specifically the gas fees paid through Bitget Wallet’s GetGas accounts.

This means the burn amount is calculated using a formula that includes gas fees, the average price of BGB, and a set multiplier. For example, in the second quarter of 2025, 1,058 BGB tokens used for gas fees led to burning 30 million tokens (Source).

Why it matters: This approach ties token scarcity directly to network activity. When more people use the network, more tokens are burned, which can increase the token’s value by reducing supply. It creates a natural balance between usage and token availability.

2. Chainlink PoR Integration (August 2025)

What happened: Bitget added Chainlink’s Proof of Reserve (PoR) system to automatically verify that the tokens backing BGB are actually held in reserve. This system uses on-chain data to check reserves in real time, updating every hour.

It monitors BGB tokens held on Ethereum and Morph blockchains. In September 2025, Bitget reported a reserve ratio of 186%, meaning they hold almost twice as many assets as tokens in circulation (Source).

Why it matters: While this doesn’t directly affect the token’s price, it builds trust by showing that Bitget has enough assets to back the tokens. This transparency can encourage more people to use and hold BGB.

Conclusion

Bitget Token’s recent updates focus on making the system more transparent and responsive to real-world usage. The burn mechanism now adjusts based on network activity, and the Chainlink integration ensures reserves are verified regularly. These improvements strengthen BGB’s foundation for the future.

Looking ahead, it will be interesting to see how Morph’s governance features might influence BGB’s development after 2025.