- Morph Chain uses the BGB token as both its gas and governance token.
- 860 million BGB have been burned, reducing supply and increasing scarcity.
- Integration of Chainlink Proof-of-Reserve strengthens trust and transparency.
The native Bitget token, BGB, surged in price following several major announcements, prompting investors to eye the $6 mark.
The rally comes amid a strategic partnership with Morph Chain, aggressive token burns, and fresh transparency measures that have renewed confidence in the exchange and its ecosystem.
Bitget inks deal with Morph Chain
Bitget announced a strategic partnership with Morph Chain.
Under the agreement, the exchange confirmed that 440 million BGB tokens that were previously held by the team will be transferred to the Morph Foundation.
Beyond the transfer, Morph will adopt BGB as its gas token and governance token, making BGB a core utility that powers the network.
This move not only deepens BGB’s integration into the expanding Web3 ecosystem but places it at the center of Morph’s settlement layer, which is positioned as an on-chain home for more than 120 million users worldwide.
The partnership reinforces Bitget’s ambition to expand BGB’s use cases beyond exchange utility toward broader DeFi adoption.
Chainlink Proof-of-Reserve integration
Alongside the Morph partnership, Bitget has moved to bolster confidence in its reserves.
On August 20, 2025, the company integrated Chainlink’s Proof-of-Reserve standard, enabling real-time verification of its wrapped Bitcoin reserves.
This addresses long-standing solvency concerns that have lingered in the industry since the FTX collapse.
The Proof-of-Reserve system demonstrates that each BGB-backed BTC token (BGBTC) is collateralized one-for-one with Bitcoin, offering institutional-grade assurances to traders and DeFi partners.
Transparency upgrades like these—similar to prior Merkle audits used by other exchanges—have often preceded strong growth in exchange tokens. Bitget’s adoption of this approach could catalyze additional institutional interest in BGB.
Deflationary dynamics fuel optimism
Alongside transparency efforts, BGB’s tokenomics are becoming increasingly attractive.
Over the past eight months, Bitget has burned 860 million tokens, representing approximately 43% of the total supply.
In Q2 2025 alone, 30 million BGB—roughly $138 million—were permanently removed from circulation.
With circulating supply now roughly equal to the total supply of about 1.14 billion tokens, inflationary risks have been substantially reduced.
On-chain data also shows large holders accumulating BGB in multi-million-dollar tranches, signaling confidence in the token’s long-term potential.
Historically, deflationary mechanisms have been powerful price drivers for exchange tokens, with notable examples demonstrating how burns and reduced supply can support sustained appreciation.
Technical analysis points to $6
BGB has moved above its seven-day moving average at $4.59 and cleared the 23.6% Fibonacci level at $4.84, pushing as high as $5.20.
Market analysis indicates $5.20 as a key flip level to hold, with resistance expected near $5.84, $5.96, and then $6.43.
If BGB maintains price above $5.20, a push into the $6 zone becomes increasingly likely.
However, near-term caution remains warranted as profit-taking could occur: momentum indicators such as the MACD histogram and RSI suggest moderate overbought conditions.