According to Lookonchain monitoring, 220 million BGB (worth $1.09 billion) have been destroyed, and another 220 million BGB (worth $1.09 billion) have been transferred to a new wallet for locking.

Previously, Bitget and Morph announced an exclusive strategic partnership. Morph will adopt BGB as its gas and governance token. The Morph Foundation will update the BGB destruction mechanism, linking it to Morph network activity until the total supply of BGB drops to 100 million.