{"id":44167,"date":"2024-12-27T16:02:10","date_gmt":"2024-12-27T16:02:10","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitget-fuels-bgb-price-rally-with-40-token-burn-plan\/"},"modified":"2024-12-27T16:02:10","modified_gmt":"2024-12-27T16:02:10","slug":"bitget-fuels-bgb-price-rally-with-40-token-burn-plan","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitget-fuels-bgb-price-rally-with-40-token-burn-plan\/","title":{"rendered":"Bitget fuels BGB price rally with 40% token burn plan"},"content":{"rendered":"

(Originally posted on : Invezz )<\/b>
\n<\/p>\n

<\/div>\n

Bitget\u2019s native token continues to dominate trends with remarkable developments and price actions amid broad market indecisiveness.<\/p>\n

BGB soared over 20% on Friday, extending its recent gains, which have left it up over 110% within the past seven days.<\/p>\n

Meanwhile, today\u2019s uptrend came as the cryptocurrency exchange announced a strategic token burn initiative.<\/p>\n

The trading firm revealed plans to incinerate 800 million BGB tokens to enhance the altcoin\u2019s tokenomics. <\/p>\n

The announcement<\/a> indicated:<\/p>\n

\n

To strengthen the BGB ecosystem, Bitget will burn 800 million tokens held by the core team, representing 40% of the total supply. This burn will be completed soon, with on-chain records made publicly available.<\/p>\n<\/blockquote>\n

BGB\u2019s new white paper magnifies optimism<\/h2>\n

The token burn model comes as Bitget introduces an updated version of BGB\u2019s white paper<\/a>, which has attracted the crypto community\u2019s attention.<\/p>\n

\n
\n
\n
<\/p>\n
\"Crypto<\/div>\n
\n
<\/div>\n<\/div>\n

<\/a><\/p>\n

<\/p>\n
Crypto Rey\ud83c\udf0e<\/span><\/div>\n

<\/a><\/p>\n

@inyass_<\/span><\/a><\/p>\n
\u00b7<\/span>Follow<\/a><\/div>\n<\/div>\n<\/div>\n

<\/a><\/div>\n

On December 27, the Bitget team released a new version of the BGB white paper, announcing the introduction of a buyback and burn mechanism. In the first burn, they will destroy 800 million BGB held by the core team at once, accounting for 40% of the total supply.<\/span><\/p>\n

1:22 PM \u00b7 Dec 27, 2024<\/a><\/a><\/div>\n
<\/p>\n
<\/div>\n

0<\/span><\/a><\/p>\n

<\/div>\n

Reply<\/span><\/a>