Gate.io, the leading global cryptocurrency exchange, has surpassed 8 million users and is moving towards 10 million users. At this milestone, Gate.io will give 1 BTC to the 10 millionth user who signs up. 2021 has been a very important year for Gate.io in terms of data. The exchange managed $2 billion and $3.3 billion in daily trading volume in the spot trading and derivatives trading market, respectively. However, given the rate at which the crypto market is expanding, it looks like Gate.io will exceed these numbers fairly quickly in 2022.
The growth of the cryptocurrency ecosystem
2021 has been an unforgettable year for the crypto ecosystem. Since the start of 2021, market capitalization has jumped from $776 billion to $2.75 million – which equates to a staggering 255 percent increase! Also, keep in mind that the market cap is on the verge of crossing $3 trillion before it encounters a correction.
2020 was the year of DeFi (decentralized finance), and the momentum has moved strongly into 2021. According to DeFi Pulse, the total value (TVL) locked in DeFi apps increased 320 percent from $26 billion to $109 billion. As many as six protocols (Maker, Curve Finance, Aave, InstaDApp, Compound and Convex Finance) have individual double-digit TVLs.
2021 was also dominated by the rise of non-fungible tokens (NFTs). According to Reuters, the number of NFT sales rose eightfold from the second quarter of 2021 to $19.7 billion in the third quarter of 2021. With projects like CryptoPunks and the Bored Ape Yacht Club (BAYC) getting more mainstream exposure than ever before, that sentiment will only continue to get stronger.
Why is Gate.io so important to this growing ecosystem?
As the crypto ecosystem grows faster than ever before, users need a platform that allows them to buy, sell, trade the world’s best coins and use increasingly mature financial instruments to an ever-growing community. This is where Gate.io fits the market perfectly.
Stable trading system for beginners
Gate.io offers spot trading in over 1,100 coins and has reached a daily trading volume of $2 billion. These coins include DeFi, Metaverse, smart contract platforms, Bitcoin clones, etc. covers various sectors such as Also, to simplify the problems beginners may encounter, Gate.io had partnered with several different payment platforms in early 2021, such as Legend Trading, Mercuryo, BANXA, and Simplex. These partnerships allow users to deposit more than 20 currencies.
Gate.io also understands that the vast majority of beginners may be more interested in NFTs than crypto trading. Gate.io’s NFT Magic Box provides an ideal NFT marketplace for beginners. Popular projects like Bored Ape Yacht Club (BAYC), MetaverseX, iFans have already adopted Magic Box.
Sophisticated tools for experts
The crypto market has become more mature and the average trader now demands more sophisticated financial instruments. Gate.io also meets these demands with the following offers.
Leveraged ETF
ETFs are Exchange Traded Funds expressed as long and short. Gate.io’s leveraged ETF market hit the $100 million milestone in September 2021. Gate.io leveraged ETFs like LTC5L and LTC5S; where the first is a leverage that provides 5 times the long position of Litecoin (LTC), while the second provides a short position of 5 times that of LTC. ETFs have become quite popular as they provide fully automated low leverage contract transactions while avoiding liquidation.
Derivatives
Gate.io also has a very popular derivatives market with a daily trading volume of $3.3 billion. On Gate.io you can find perpetual trading contracts of several popular cryptos (BTC, LTC, ETH, etc.). The exchange offers derivatives trading on 196 perpetual contracts and currently holds $1.86 billion worth of 24-hour open interest.
Grid Trading
Grid Trading is a system that allows traders to buy and sell orders at predetermined price ranges. Gate.io’s AI Grid automatically backtests historical data from the last seven days and calculates the optimum upper limit price, lower limit price, and number of grids. This is a useful tool for traders who want to place bulk orders. Although Gate.io introduced this feature in August 2020, grid trading volume had already surpassed $140 million in February 2021.
Gate.io takes responsibility in extreme market conditions
Another area where Gate.io excels is protecting the interests of its users in extreme market conditions. On May 19, 2021, the crypto market crashed as market conditions became extreme. Transaction volumes soared as the panic spread, causing network congestion on many platforms, causing pauses and outages for some. Several exchanges have decided to liquidate user assets to protect their platforms.
Working against the general rule, Gate.io extended the liquidation period from May 19 to May 20. This gave users with outstanding crypto loans ample time to repay their loans or add additional collateral to avoid liquidations. Gate.io’s quick actions have helped thousands of users recover nearly $60 million in losses.
Actions like this demonstrate that Gate.io is not only properly positioned to address the crypto market as a whole, but also has a proven track record of maintaining user interest.
Conclusion
There’s a reason Gate.io has been around for nearly a decade and has grown to around 10 million users. The combination of the all-in-one crypto trading platform and their ability to empathize with their users in extreme market conditions has served them well and will continue to do so. With the platform approaching 10 million users, Gate.io plans to hold an event to celebrate its loyal users. A total of 1 BTC will be awarded to new and old users who complete a series of fun missions. You can click here to get more details.
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