GateToken breaks through $17.699, user surge and reserve report help GT reach new highs

GateToken (GT), the native token of the cryptocurrency exchange Gate.io, hit a record high in December, briefly exceeding $17.699, with a 24-hour increase of 20.1%, continuing to hit a record high. The achievement of Gate.io’s 20 million user milestone and the recently released December reserve report have had a positive impact on this rally.

GT, as the native token of GateChain, can be used to pay transaction fees, and holders will enjoy VIP benefits, airdrop rewards, PoS income and other preferential rights. At the same time, GT is also the only official platform currency of the Gate.io platform, which is deeply bound to the global development of Gate.io. According to data from Coingecko, GT ranks second in the world among platform coins, second only to BNB, with a 24-hour trading volume of over US$44 million.

The popularity of GT continues to rise, and as scarcity increases, its value in the market continues to reflect. Currently, the annualized return of GT mining has reached 10.89%, the number of participants has exceeded 22,000, and the total pledged amount has exceeded US$261 million. Gate.io steadily implements the GT repurchase and destruction mechanism to create a sustained deflation economic model, and spends 15% of the platform revenue every quarter to repurchase and destroy GT. The total value of GT currently destroyed exceeds 180 million US dollars, 58.06% of the total amount has been destroyed, and the circulation has been less than 100 million, making the stock increasingly precious.

In terms of platform scale and brand influence, Gate.io achieved a number of breakthroughs in 2024, driving the price of GT to rise strongly. In early December 2024, the Gate.io platform released the December reserve report. The report shows that Gate.io’s total reserve value has reached a record high of US$9.566 billion, with a total reserve rate of 123.91%. The reserve rates of multiple currencies have exceeded 120%, leading the industry average. Gate.io’s excess reserves also reached US$1.846 billion, a year-on-year increase of 68.89%, setting a new high for the platform, with an excess reserve rate of 23.91%. These all reflect the platform’s commitment to the security of user assets.

In an official AMA on December 13, 2024, Gate.io Chief Commercial Officer Kevin Lee revealed that the platform’s reserve fund has exceeded US$10 billion and now ranks fourth in the global industry. At the same time, Kevin Lee once again called on industry participants to promote the healthy development of the encryption industry in a win-win manner and jointly build a healthy and sustainable encryption ecosystem.

A few days later, the number of registered users of Gate.io officially exceeded 20 million, reflecting users' trust in the platform. This milestone achievement not only demonstrates Gate.io's excellent competitiveness in the global market, but also further consolidates its leading position in the industry.

Gate.io’s various achievements in 2024 provide strong support for this December rally. In August 2024, Gate.io officially announced that it would become the official armband sponsor of Inter Milan Football Club. The brand logo will appear on the jerseys of the men's team, women's team and U20 team. When the news was officially announced, Gate.io founder and CEO Dr. Han Lin said: "We have always been committed to innovation and community participation, and we look forward to bringing exciting new experiences to Inter Milan fans around the world and exploring the world of football and digital assets. "This cooperation will promote Gate.io and Inter Milan Football Club to jointly produce exclusive content, hold joint marketing activities, co-branded merchandise, etc., and create opportunities for fans to interact on and off the field.

Dr. Han Lin, founder and CEO of Gate.io, said: "Gate.io has always been committed to ensuring the safety of user funds and strengthening its brand influence. These efforts will make the platform an important industry builder and further strengthen its market leadership."

Disclaimer:

This content does not constitute any offer, solicitation, or recommendation. You should always seek independent professional advice before making any investment decision. Please note that Gate.io may restrict or ban all or part of the Services from restricted regions. Please read the User Agreement for more information, link: https://www.gate.io/user-agreement .