GateToken burns nearly 2 million GT in Q3 2026, cumulative total reaches 191.93 million

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.