- Morph Chain adopts the BGB token as both its gas token and governance token.
- 860 million BGB have been burned, reducing supply and increasing scarcity.
- Chainlink Proof-of-Reserve integration enhances trust and transparency.
Bitget’s native token, BGB, has experienced a notable price surge following several major announcements, with investors now eyeing the $6 level.
The rally follows a strategic partnership with Morph Chain, large-scale token burns, and new transparency measures that have restored confidence in the exchange and its ecosystem.
Bitget inked a deal with Morph Chain
Bitget announced a strategic partnership with Morph Chain that significantly expands BGB’s role beyond exchange utility.
#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, Bitget confirmed that 440 million BGB tokens previously held by the team will be transferred to the Morph Foundation.
Morph Chain will adopt BGB as its native gas and governance token, making it integral to the network’s operations.
This move not only deepens BGB’s integration into the growing Web3 ecosystem but also places the token at the core of Morph’s settlement layer, which serves as an on-chain home for millions of users worldwide.
The partnership underscores Bitget’s ambition to expand BGB’s utility beyond the exchange and into broader DeFi adoption.
Chainlink Proof-of-Reserve integration
Beyond the Morph partnership, Bitget has taken steps to strengthen confidence in its reserves.
On August 20, 2025, the exchange integrated Chainlink’s Proof-of-Reserve system, enabling real-time verification of 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 integration addresses lingering solvency concerns that have affected the industry since the FTX collapse.
Chainlink’s Proof-of-Reserve demonstrates that each BGBTC token is backed one-to-one with Bitcoin, offering institutional-grade assurance to traders and DeFi partners.
Transparency upgrades like this—and similar initiatives such as previous Merkle audits—have historically supported strong rallies in exchange tokens. Bitget’s adoption of an independent verification standard could attract greater institutional interest in BGB.
Deflationary mechanics feed optimism
Alongside these transparency measures, BGB’s tokenomics have grown increasingly attractive.
Over the past eight months, Bitget has burned 860 million BGB tokens, representing approximately 43% of the total supply.
During Q2 2025 alone, 30 million BGB—worth roughly $138 million at the time—were permanently removed from circulation.
With the circulating supply now equal to the total supply at about 1.14 billion tokens, inflationary pressure has effectively been neutralized.
On-chain data also shows that large holders have been accumulating BGB in multi-million-dollar tranches, signaling confidence in the token’s long-term potential.
Historically, deflationary mechanisms have been a powerful price catalyst for exchange tokens, with BNB being one of the most prominent examples.
Technical outlook points toward $6
Technically, BGB recently moved above its seven-day moving average of $4.59 and cleared the 23.6% Fibonacci resistance at $4.84, then tested the $5.20 area.
Market analysis identifies $5.20 as a key pivot to hold, with additional resistance expected near $5.84, $5.96, and then $6.43.
If BGB sustains its position above $5.20, pressure toward the $6 zone becomes increasingly plausible.
That said, short-term profit-taking remains a risk: momentum indicators such as the MACD histogram and RSI suggest modest overbought conditions, so traders should manage exposure accordingly.