First BGB quarterly Burn.

[BullTrader]

First ever BGB quarterly burn is here, with 30m BGB to be destroyed as announced here👇

https://x.com/GracyBitget/status/1909811340778385827?t=H2OU2gYqSxbIPJID7HPxcA&s=19

So, I just came across the news about the BGB burn, which reduced the supply from 2B to 1.2B. Here's what that means for the token.

[Charles-Tim]

Burning is one of the means many altcoins are using to deceive people. Are more coins not going to be mined? See Binance coin that we have seen in the past that are burned, it did not increase than bitcoin that is not burned in this bull season.

More people know Bitget more since last 2 years and they bought their tokens last year which makes it increased significantly and not about burning or whatever.

[yhiaali3]

Good news for BGB holders, The burn increases the coin's scarcity and increases demand, which will lead to a price increase. The token's price is now $4.22, having risen more than 5% since yesterday, perhaps as a result of this news or perhaps due to today's general market recovery.

In any case, BGB is a token with a promising future, as it is the token of the BitGet exchange and also because it is used in the exchange's launchpool. With the scheduled burn, it will grow significantly in the future.

[Faisal2202]

Burning is one of the means many altcoins are using to deceive people. Are more coins not going to be mined? See Binance coin that we have seen in the past that are burned, it did not increase than bitcoin that is not burned in this bull season.

More people know Bitget more since last 2 years and they bought their tokens last year which makes it increased significantly and not about burning or whatever.

Burning can be a bullish news, but you said it is also a way to deceive people, I wonder how that is? If you can shed some more light, although from what I know, I can tell, they deceive people by showing the burning news, so people could buy the news, and then they increase the supply either by mining, although BGB is not mineable, plus it was burned at December 2024 and at that time its supply was 2 billion and 800 million tokens were burnt, now the total supply is around 1.2 billion.

This burning, increased the price drastically at that point, I mean if I am not wrong it made new ATH near to $8. People really bought the news, it was really bullish. And the recent 30 million burning is still a bullish news for the token.

[Bobcrypto]

Burning is one of the means many altcoins are using to deceive people. Are more coins not going to be mined? See Binance coin that we have seen in the past that are burned, it did not increase than bitcoin that is not burned in this bull season.

More people know Bitget more since last 2 years and they bought their tokens last year which makes it increased significantly and not about burning or whatever.

Coin burning is not a mechanism to deceive people for investments purposes, rather coins burning help many  crypto projects tokens to increase in value overtimes. It is a project team's strategy to reduce token supply and create scarcity.
In addition, it is very clear that once these numbers of token are burnt, the are gone and can not be recovered.
As you may know, any projects token burning process does not signify that such coin will increase more than Bitcoin now or in near future. Bitcoin is on a separate blockchain network and has maintained constant demand more than altcoins, one the reasons it have been experiencing dominance over altcoins on the market.