BG Token Soars 15%, Plans to Burn 40% of Its Total Supply🔥🔥🔥

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BG's BGB Token is Bullish

BG's native utility token BGB continues to show bullish momentum today after the team released an updated whitepaper about the asset burn mechanism.

BGB Price Surges

BG Token (BGB) surged over 20% today, reaching an all-time high of $8,500, with weekly and monthly gains of 102% and 421%, respectively, contrary to the overall market trend.

Burn Mechanism Supports

BG announces an update to the whitepaper, particularly regarding the asset burn section. The team has introduced a mechanism that allows for continuous large-scale burning of BGB tokens, bringing bullish momentum to the ecosystem token.

BG will burn 40% of the total supply, or 800 million BGB (valued at $2.64 billion at current market prices), and has introduced a quarterly mechanism using 20% of earnings to regularly purchase and burn BGB. After the burn, the total supply of BGB will be reduced to 1.2 billion, enhancing asset scarcity.

BGB Becomes Unified Utility Token

BG announces the merger of BGB with the BG Wallet Token (BWB), making BGB the ultimate token for its exchange and self-custody wallet.

BGB Ranks Rise

BGB's strong momentum has propelled it to the 16th position in cryptocurrency rankings, with a market capitalization of $11.6 billion, surpassing well-known assets like Polkadot (DOT), Stellar (XLM), Litecoin (LTC), and Pepe (PEPE). At the time of writing, BGB is trading at $8.33, slightly below its all-time high.

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