- Morph Chain adopts BGB as its gas and governance token.
- 860 million BGB have been burned, reducing supply and increasing scarcity.
- Integration of Chainlink PoR strengthens trust and transparency.
The native token of Bitget, BGB, has seen a sharp price rise following a series of major announcements, with investors now eyeing the $6 threshold.
The rally follows a new strategic partnership with Morph Chain, aggressive token burns and fresh transparency measures that have renewed confidence in the exchange and its ecosystem.
Bitget inks a 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 this agreement, the exchange confirmed that 440 million BGB tokens previously held by the team will be transferred to the Morph Foundation.
The deal goes further: Morph will adopt BGB as both the gas token and the governance token, making it a core utility within the network.
This move ensures deeper integration of BGB into the expanding Web3 ecosystem and positions the token at the center of Morph’s settlement layer, which is being promoted as an on-chain home for more than 120 million users globally.
The partnership cements Bitget’s ambition to move the token beyond exchange utility and toward broader DeFi adoption.
Chainlink Proof-of-Reserve integration boosts transparency
Beyond the Morph transaction, Bitget has taken steps to strengthen confidence in its reserves.
On August 20, 2025, the company integrated Chainlink’s Proof-of-Reserve 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 addresses ongoing solvency concerns that have lingered in the industry since the collapse of FTX.
The proof-of-reserve system shows that each BGBTC token is backed one-for-one by Bitcoin, providing institutional-grade assurance to traders and DeFi partners.
Similar transparency upgrades in the past, such as Merkle-style audits, have often paved the way for strong exchange-token rallies. Bitget’s adoption of this approach could attract greater institutional interest in BGB.
Deflationary mechanics fuel bullish sentiment
Alongside these transparency initiatives, BGB’s tokenomics have become increasingly compelling.
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—roughly $138 million—were permanently removed from circulation.
With circulating supply now equal to the total supply at around 1.14 billion tokens, inflationary pressure has been materially 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 a strong price driver for exchange tokens, with BNB being one of the clearest examples.
Technical outlook points toward $6
BGB’s price has risen above the seven-day moving average at $4.59 and cleared the 23.6% Fibonacci level at $4.84, pushing toward $5.20.
Market analysis highlights $5.20 as a key pivot level to hold, with resistance expected at $5.84, $5.96 and then $6.43.
If BGB sustains above $5.20, a move into the $6 area becomes increasingly likely.
However, short-term profit-taking remains a risk, as momentum indicators like the MACD histogram and RSI suggest mild overbought conditions.