Gate.io Completes 64 Million USD GT Burn in Q4/2024

Gate.io Burns 64 Million USD GT in Q4/2024

According to the official announcement, the GT Token Burn for Q4/2024 has been completed. A total of 2,904,885.4321514 GT has been burned, worth over 63.9 Million USD.

To date, a total of 177 Million GT has been burned, accounting for around 60% of the initial total supply, making GT one of the leading projects in terms of coin burn scale.

The GT Burn mechanism of Gate.io is not fixed but dynamically adjusted based on market conditions and platform development.

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

When the total supply drops below 100 million, Gate.io will still commit to implementing a deflationary strategy by setting new total supply reduction targets and executing them strictly. 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 had a significant impact on 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 pumped over 300%, surpassing the 17.7 USD level in December (with a 20.1% increase in 24 hours). The ATH was recorded at 25.96 USD in January 2025. As of March, GT is trading in the range of 21.3 - 22.5 USD, up 11.44% in the 60-day frame.

GT Price Movement since Listing, Screenshot from CoinGecko at 02:00 PM on 11/03/2025

The market capitalization and ranking of GT have also grown significantly in both 2024 and 2025. At the beginning of 2024, GT's market capitalization was below 1 billion USD. By March 2025, this figure has surpassed 2.6 billion USD, placing GT among the top 50 largest cryptocurrencies in the market.

Currently, GT's market capitalization is 2.38 billion USD, holding the 48th position. This significant increase in market value and ranking reflects the growing recognition of the Gate.io token, and is a testament to the success of the coin burn strategy.

The Gate.io Ecosystem is Expanding

Gate.io has been actively driving technology and expanding its ecosystem. The Gate Web3 ecosystem has expanded to 199 public blockchains, with over 54 million new wallet addresses created.

Meanwhile, MemeBox has introduced an AI-driven smart recommendation feature, utilizing 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 investments, enhancing the competitiveness of the entire ecosystem and providing more sophisticated on-chain financial services to global users.

Additionally, the completion of the mainnet v1.1.6 upgrade in August 2024 has laid a solid foundation for the stable operation of GateChain 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 continue to 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 important role in empowering the Gate ecosystem.

About Gate.io

Established in 2013, Gate.io is one of the earliest cryptocurrency exchanges and a leading compliant and secure trading platform. The exchange supports a wide range of trading services with 100% asset-backed proof. Gate.io consistently ranks among the top exchanges on CoinGecko in terms of liquidity and trading volume. In addition to trading, the Gate.io ecosystem includes DeFi, research and reports, an investment fund, wallet services, and a project incubator.

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