GateToken (GT) completed its on-chain burn for the third quarter of 2026, according to an official announcement cited by Odaily. A total of 1,987,321.2431520 GT was sent to a burn address in the latest round, with the value of the destroyed tokens exceeding $22.35 million. The update brings GT’s cumulative burned supply to 191,934,541 tokens, with total burned value surpassing $1.504 billion based on average quarterly prices.
GT serves as Gate’s core platform token and the native asset of Gate Chain. It is used as a utility token on the network and as a gas fee payment token supporting basic on-chain functions such as transfers. Since the launch of the Gate Chain mainnet in 2019, GT has continued to follow its burn mechanism, reducing total supply by about 63.98% from the original 300 million tokens.
The announcement also noted recent market performance. GT has risen 32.49% over the past 30 days and 63.63% over the past 90 days. Gate said it will continue advancing the GT burn mechanism to reduce market supply over time, optimize token supply structure, and strengthen GT’s scarcity and long-term value foundation.
GateToken (GT) has completed its on-chain burn for the third quarter of 2026, according to an official announcement cited by Odaily. In this round, 1,987,321.2431520 GT was transferred to a burn address, with the value of the destroyed tokens exceeding $22.35 million.
As of now, GT’s cumulative burned amount has reached 191,934,541 tokens. The cumulative value of those burns has exceeded $1.504 billion, calculated on the basis of average quarterly prices.
GT is Gate’s core platform token and the native asset of Gate Chain. It functions as a utility token on Gate Chain and can also be used to pay gas fees, supporting basic network functions including on-chain transfers.
Since the Gate Chain mainnet went live in 2019, GT has continued to operate under its burn mechanism. Its total token supply has fallen by about 63.98% from the original 300 million tokens.
On market performance, GT has gained 32.49% over the past 30 days and 63.63% over the past 90 days. Gate said it will continue to push forward the GT burn mechanism, aiming to reduce market supply over the long term, optimize the token supply structure, and reinforce GT’s scarcity and long-term value basis.
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