GateToken (GT) Burns Nearly 2 Million Tokens in 2026 Q3, Cumulative Burn Total Reaches 192 Million

Odaily News — According to an official announcement, the on-chain burn of GateToken (GT) for the third quarter of 2026 has been completed. A total of 1,987,321.2431520 GT was transferred to the burn address, with a burn value exceeding $22.35 million. As of now, the cumulative burn total of GT has reached 191,934,541 tokens, with a cumulative burn value exceeding $1.504 billion (calculated at the quarterly average price).

GT is the core platform token of Gate and the native asset of Gate Chain. It serves as a utility token and gas fee payment token on Gate Chain, supporting basic functions such as on-chain transfers within the network. Since the launch of Gate Chain's mainnet in 2019, GT has continuously implemented its burn mechanism, reducing the total token supply by approximately 63.98% from the initial 300 million. In terms of market performance, GT has shown notable upward momentum recently, rising 32.49% over the past 30 days and 63.63% over the past 90 days. Going forward, Gate will continue to advance the GT burn mechanism, strengthening GT's scarcity and long-term value foundation through sustained reduction of market supply and optimization of the token supply structure.