Finance

Bitget Token Surges 14% as 39% Supply Moves to Morph Foundation

6 hours ago
Bitcoin Ethereum News

The Bitget token (BGB) jumped sharply today after Bitget announced a sweeping supply handover to the Morph Foundation. The move shifts BGB into a bigger role within Morph’s blockchain ecosystem while tightening its tokenomics.

BGB, according to CoinMarketCap, surged from $4.8 at 10 AM to $5.5 by 11:15 AM UTC, marking a 14.6% rally and hitting its highest price in four months.

440 Million BGB Tokens Transferred, 220 Million Burned

In its official statement, Bitget confirmed the transfer of 440 million BGB tokens—nearly 39% of total supply—to the Morph Foundation.

Out of this total:

  • 220 million tokens were destroyed immediately, cutting down circulating supply.
  • The remaining 220 million tokens are locked and will unlock 2% monthly for liquidity incentives, education, and ecosystem growth.

The foundation said this structure ensures BGB continues to play a central role while limiting any sudden market oversupply.

BGB Upgrades to Morph’s Main Gas and Governance Token

Bitget also revealed that BGB will power the Morph network as both the gas and governance token. This means BGB will be used for:

  • Transaction fees across the Morph chain
  • Voting on ecosystem proposals
  • Payments within decentralized applications

At the same time, BGB will retain its exchange perks like Launchpool access, trading fee discounts, and wallet integrations.

This dual role cements BGB as the core token for both Bitget’s centralized ecosystem and Morph’s decentralized future.

New Burn Mechanism Targets 100 Million Supply

The Morph Foundation confirmed that it will link BGB burns directly to on-chain activity. Higher chain usage will trigger more burns, shrinking total supply further over time.

The long-term target?

100 million tokens in total circulation.

This is part of a bigger trend for Bitget. From the original 2 billion supply, 40% has already been burned, reducing inflationary pressure and supporting long-term price stability.

Market Reaction: Big Rally, Quick Correction

BGB’s price spiked on the news.

  • $4.8 at 10 AM UTC
  • $5.5 by 11:15 AM UTC (+14.6%)
  • Pulled back 6.55% as traders booked profits
  • Now holding above $5 at $5.08 per CoinMarketCap

Despite the brief correction, BGB still posts a 9% daily gain, ranking among the top three gainers across the market today.

This performance stands out as most crypto assets faced broad market corrections over the same 24-hour window.

Bitget and Morph CEOs See “New Chapter” for BGB

Bitget CEO Gracy Chen described the transfer as the “start of a new chapter” for BGB, one that could make it a driver for consumer finance on a global scale.

Morph CEO Colin Goltra echoed this sentiment, calling the partnership a gateway for decentralized payments and a scalable Layer 2 ecosystem built for real-world use cases.

120 Million Users Gain Access to Morph Ecosystem

Bitget plans to leverage its 120 million user base to push adoption of Morph-based decentralized applications.

With BGB as the native gas token, these users can:

  • Interact with decentralized finance protocols
  • Access lower fees on Layer 2 transactions
  • Benefit from ongoing token burns tied to network growth

This integration gives Bitget Wallet and Exchange users seamless access to the Morph ecosystem.

Morph Network Upgrades Underway

Alongside the token transfer, Morph announced upgrades to its Layer 2 chain.

These improvements include:

  • Lower transaction fees
  • Higher throughput for large-scale adoption
  • Better developer support for building consumer-facing dApps

The Morph Foundation will oversee BGB’s long-term roadmap, ensuring token utility grows with the network.

What Comes Next for BGB Holders

With the locked tokens unlocking at 2% monthly and burns tied to usage, BGB’s supply will keep tightening.

If Morph’s ecosystem gains traction, demand could climb while supply shrinks—a dynamic that often supports price growth in token economies.

For now, traders watch whether BGB can hold above $5 and test fresh highs in the coming weeks.

Social Media Reactions

The news sparked heavy discussions across crypto Twitter.

Community sentiment remains largely bullish, with many calling this a turning point for BGB and Morph adoption.

Bitget’s decision to hand over 39% of BGB supply to the Morph Foundation signals a serious long-term strategy.

With real-world use cases, an aggressive burn plan, and Layer 2 expansion, BGB is positioned as more than just an exchange token—it now sits at the center of a growing decentralized finance network.

If Morph’s network upgrades deliver and user adoption grows, this move could mark the beginning of BGB’s next major growth phase.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Source: https://nulltx.com/bitget-token-surges-14-as-39-supply-moves-to-morph-foundation/