Bitget Joins Platform Token Burn War: BNB, OKB and BGB 2025 Strategies
Crypto exchange Bitget has upgraded its platform token BGB to Morph chain status and burned 2.2 billion tokens, entering the 2025 token burn competition following OKX’s one-off destruction of 65.25 million OKB. The article revisits the 2021 platform-token burn war—highlighting BNB, HT, OKB and FTT’s large-scale buybacks and burns that fueled tenfold rallies—and contrasts it with today’s stricter regulatory environment and mature exchange ecosystems. In 2025, Binance’s BNB rose from $250 to over $800, driven by its Alpha launch, BNB Chain ecosystem growth and Maxwell upgrade. OKX strengthened global licenses, expanded its Web3 wallet, and executed its 29th and final OKB burn, locking supply at 21 million ahead of a rumored US IPO. Bitget’s BGB burn and Morph upgrade add another competitive catalyst. Traders should watch supply cuts, ecosystem milestones and regulatory moves for potential price breakouts.
Bullish
Major token burns historically reduce circulating supply and trigger sharp price rallies. In 2021, BNB and OKB burns drove tenfold gains amid a bull market. Bitget’s BGB burn, along with OKX’s and Binance’s high-profile supply cuts and ecosystem upgrades, signals strong bullish sentiment. Short-term traders can expect volatility spikes and quick price runs following burn announcements. Over the long term, sustained growth depends on ecosystem development—BNB Chain’s rapid DEX volume growth and OKX’s licensing and wallet expansion suggest robust demand. BGB’s Morph upgrade adds another layer of utility. Overall, coordinated burns and product catalysts favor a bullish outlook for platform tokens.