Bitget Token (BGB) on the Rise: Why?

Its been months that I have been discussing about $BGB - the token of Bitget exchage that started low and experienced ATH after ATH during the last months of 2024.

Well now, there are some more news not to be missed (and I would also like your opinion about it)

Today, BGB hit again the $5 mark and right now it is at 5.05$:

https://coinmarketcap.com/currencies/bitget-token-new/

If you are a trader, or a holder, maybe you need to take a look and do your own technican analysis before you decide.

I was wondering what caused this increase, since for the last months it was steadily above 4 but below

And this is what happened

Bitget has announced a partnership with Morph Chain, a next-generation Layer 2 network focused on payments and consumer finance. As part of the deal:

• 440 million BGB tokens were transferred to the Morph Foundation.

• 220 million tokens were burned immediately, reducing circulating supply.

• The other 220 million are locked, with only 2% unlocking monthly, set aside for ecosystem growth and incentives.

This transforms BGB from being just an exchange utility token into the native gas and governance token for Morph Chain.
source

Why is this important?

It gives a scarcity boost: Burning 220M tokens is making BGB more deflationary.

Utility of the token is expended: BGB will now power transactions, governance, and payments on Morph, while still keeping its role in the Bitget exchange (launchpad, discounts, VIP access).

You can read here all the details: https://www.bitget.com/support/articles/12560603836781

About Morph

Morph is a new Layer 2 blockchain designed to make crypto faster, cheaper, and more user-friendly — especially for payments, consumer apps, and everyday use cases.

Here’s what stands out about Morph:

🔹 Layer 2 on Ethereum → Built to scale Ethereum with lower fees and higher speed.

🔹 Consumer-focused → Aims to bring blockchain into daily life: payments, shopping, and real-world finance.

🔹 High-performance settlement layer → Optimized for fast transactions, stable on-chain payments, and integration with DeFi.

🔹 Partnership with Bitget → Morph is now using BGB (Bitget Token) as its native gas and governance token, tying it to both the Bitget exchange ecosystem and Morph’s on-chain economy.

🔹 Governance → Users holding BGB can take part in shaping Morph’s development and upgrades.

https://www.morphl2.io/

What are your thoughts?
I had never heard of this Morph before, I will make a more thorough research but what is a bit worrying for me is the potential increase in gas fees, which may be good for the token nevertheless.

In any case, $BGB remains in Bitget as the token to be used for VIP perks, launchpools etc (another one running tomorrow)

If it increases above one range, I may take some profit, but for the main part - I chose to hodl it.

I would love to know your thoughts about it and please do your own research always, do not trust random people on the internet :P

Posted Using INLEO