Bitget Burns $120M in BGB Tokens: Could This Be a Sign for Other Projects?

To boost demand and strengthen its market position, cryptocurrency exchange Bitget is burning $120 million worth of its BGB tokens. This new utility-driven burn mechanism aims to reduce supply and potentially increase demand for the token. However, this move raises the question: Could other decentralized projects follow suit? As a prominent player in the space, Bitget’s bold strategy may influence how others approach token burns.