According to the official announcement, the Gate token burn for Q4/2024 has been completed. A total of 2,904,885.4321514 GT were burned, valued at over $63.9 million.

To date, a total of 177 million GT have been burned, accounting for approximately 60% of the initial total supply, making GT one of the leading projects in the industry in terms of coin burn scale.

Gate.io’s GT burn mechanism is not fixed but is dynamically adjusted based on market conditions and platform development.

The core logic of this strategy is to reduce circulating supply, thereby enhancing scarcity and increasing the value of GT. The initial goal was to reduce the total GT supply from around 133 million to below 100 million GT.

Once the total supply drops below 100 million, Gate.io will remain committed to its deflationary strategy by setting new supply reduction targets and strictly implementing them. This deflationary approach is a long-term and continuous process, not a temporary measure to achieve short-term goals.

Positive Impact of the GT Burn Strategy

The GT burn mechanism has significantly impacted the market performance of the token price. Since the launch of GateChain in 2019, GT has been continuously burned, reducing the total supply by around 60% from the initial 300 million tokens.

Over the past year, the GT price has surged by over 300%, reaching $17.7 in December (with a 20.1% increase in 24 hours). The all-time high (ATH) was recorded at $25.96 in January 2025. By March, GT has been trading in the range of $21.3 – $22.5, up 11.44% over the past 60 days.

GT price movement since listing, screenshot from CoinGecko at 02:00 PM on 03/11/2025

The market capitalization and ranking of GT have also seen significant growth throughout 2024 and 2025. At the beginning of 2024, GT’s market cap was below $1 billion. By March 2025, this figure surpassed $2.6 billion, placing GT in the top 50 largest cryptocurrencies.

Currently, GT’s market cap is $2.38 billion, ranking 48th. This notable increase in market value and ranking reflects the growing recognition of Gate.io’s token and serves as a testament to the success of the coin burn strategy.

Gate.io’s Growing Ecosystem

Gate.io has actively promoted technology and expanded its ecosystem. The Gate Web3 ecosystem has now integrated with 199 public blockchains, with over 54 million new wallet addresses created.

Meanwhile, MemeBox has introduced AI-powered smart recommendation features using advanced algorithms to optimize Web3 asset allocation efficiency.

These technological innovations have further strengthened Gate Web3’s leading position in multi-chain interactions and smart investing, enhancing the competitiveness of the entire ecosystem and providing global users with more advanced on-chain financial services.

Additionally, the completion of the mainnet v1.1.6 upgrade in August 2024 laid a solid foundation for GateChain’s stable operations in Q4.

Looking ahead, GateChain will continue to upgrade its core functionalities, including DA (Data Availability), to ensure high efficiency and security. The Web3 ecosystem will further expand across wallets, trading, financial services, NFTs, and memecoin projects, enhancing the overall user experience.

As more applications and public blockchains integrate, GT will play an increasingly significant role in empowering the Gate ecosystem.

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