Gate completed an on-chain burn of 1,987,321 GT tokens in Q3, reducing the total supply of its native token, GT, by nearly 2 million. This burn was valued at over $22.35 million, contributing to a cumulative burn of 191.9 million GT tokens worth more than $1.5 billion since the Gate Chain mainnet launch in 2019. The total GT supply has dropped by 63.98% from its original 300 million tokens, which helps increase scarcity and potentially the token's value. Gate plans to continue this token burn mechanism to manage supply and support the ecosystem.
Gate's GT token burn news is presented with Pluang's market data for context. As of Oct 05, 2026 13:02 WIB, 32 of 50 major cryptocurrencies rose and 17 fell on Pluang. Notable price moves include SXP down 46.27% at Rp37, ADA up 11.63% at Rp4.875 with 62% buy orders, and BAL up 11.14% at Rp16.297.
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