- Morph Chain adopts the BGB token as its gas and governance token.
- 860 million BGB were burned, reducing supply and increasing scarcity.
- Chainlink PoR integration strengthens trust and transparency.
The price of Bitget’s native token, BGB, has surged sharply following several major announcements, with investors now eyeing the $6 level.
The rally follows a strategic partnership with Morph Chain, aggressive token burns, and new transparency measures that have renewed confidence in the exchange and its ecosystem.
Bitget inks strategic deal with Morph Chain
Bitget announced a strategic partnership with Morph Chain.
#Bitget has announced a strategic partnership with Morph Chain @MorphLayer.
Through this exclusive collaboration, all #BGB tokens held by the team (440M BGB) will be transferred to the Morph Foundation. The Morph Chain will adopt BGB as its gas and governance token, powering… pic.twitter.com/jPrRSDQTRN
— Bitget (@bitgetglobal) September 2, 2025
Under the agreement, the exchange confirmed that 440 million BGB tokens previously held by the team will be transferred to the Morph Foundation.
The partnership goes further: Morph Chain will adopt BGB as both its gas token and governance token, making it essential to the network’s operation.
This transfer not only secures deeper BGB integration into an expanding Web3 ecosystem, it also places the token at the core of Morph’s settlement layer—promoted as a new on-chain home for over 120 million users worldwide.
The deal reinforces Bitget’s goal of expanding the token’s utility beyond exchange functions into broader DeFi adoption.
Chainlink Proof-of-Reserve integration
Alongside the Morph agreement, Bitget moved to strengthen trust in its reserves.
On August 20, 2025, the company integrated Chainlink’s Proof-of-Reserve (PoR) system, enabling real-time verification of its wrapped Bitcoin reserves.
We’re excited to announce that we’ve adopted the @chainlink data standard on @ethereum. 🙌
Chainlink Proof of Reserve brings enhanced transparency to BGBTC collateralization and enables @BitVaultFinance, which uses BGBTC in its DeFi yield strategies and as a collateral asset… https://t.co/AcjoNlwye2
— Bitget (@bitgetglobal) August 20, 2025
This move addresses lingering solvency concerns that have haunted the industry since the collapse of FTX.
The PoR system proves that each BGBTC token is backed one-to-one by Bitcoin, offering institution-grade assurance for traders and DeFi partners.
Similar transparency upgrades—such as Binance’s past Merkle audits—have historically paved the way for strong rallies in exchange tokens, and Bitget’s adoption of this approach could attract greater institutional interest in BGB.
Deflationary mechanics fuel optimism
Along with these transparency measures, BGB’s tokenomics have become increasingly attractive.
Over the past eight months, Bitget has burned 860 million tokens, equivalent to 43% of the total supply.
In Q2 2025 alone, 30 million BGB—worth roughly $138 million—were permanently removed from circulation.
With circulating supply now roughly 1.14 billion tokens, inflationary pressure has been materially reduced.
On-chain data also shows large holders accumulating BGB in multi-million-dollar increments, signaling confidence in the token’s long-term potential.
Historically, deflationary mechanisms have been a strong price driver for exchange tokens, with BNB being one of the most prominent examples.
Technical outlook points toward $6
BGB has broken above its seven-day moving average at $4.59, cleared the 23.6% Fibonacci level at $4.84, and pushed toward $5.20.
Market analysis highlights $5.20 as an important pivot level, with resistance expected at $5.84, $5.96, and then $6.43.
If BGB sustains above $5.20, a move toward the $6 zone becomes increasingly likely.
Short-term profit-taking risks remain, however, and momentum indicators such as the MACD histogram and RSI point to mildly overbought conditions.