The native token of cryptocurrency exchange Gate.io, GateToken (GT), hit a record high in December, breaking through $17.699 in a short period of time, and the 24-hour increase was as high as 20.1%, setting a new record high. The achievement of the 20 million user milestone of Gate.io and the recently released December reserve report have brought positive influences to this rally.
As the native token of GateChain, GT can be used to pay transaction fees. Holders will enjoy VIP benefits, airdrop rewards, PoS benefits and other preferential rights. At the same time, GT is also the only official platform currency of Gate.io platform, deeply bound to the global development of Gate.io. According to Coingecko data, GT ranks second in the world among platform currencies, second only to BNB, with a 24-hour trading volume of over 44 million US dollars.
The popularity of GT continues to rise, and with the increase in scarcity, the value of GT in the market continues to be reflected. 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 261 million US dollars. Gate.io has steadily implemented the GT repurchase and destruction mechanism to create a continuous deflationary economic model, taking out 15% of the platform revenue every quarter to repurchase and destroy GT. The cumulative destruction value of GT currently exceeds 180 million US dollars, and 58.06% of the total amount has been destroyed. The circulation volume is less than 100 million, and the stock is becoming more and more precious.
In terms of platform scale and brand influence, Gate.io achieved a number of breakthroughs in 2024, driving a strong rise in the price of GT. In early December 2024, the Gate.io platform released its December reserve report. The report shows that the total value of Gate.io's reserves reached a record high of US$9.566 billion, with a total reserve rate of 123.91%. The reserve rates of multiple currencies 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 platform high, and the excess reserve rate was 23.91%, all of which reflect the platform's commitment to the security of user assets.
In an official AMA on December 13, 2024, Kevin Lee, Chief Business Officer of Gate.io, revealed that the platform's reserve fund has exceeded $10 billion, now ranking 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 with a win-win attitude and jointly build a healthy and sustainable encryption ecosystem.
A few days later, the number of Gate.io registered users officially exceeded 20 million, reflecting the trust of users in the platform. This milestone achievement not only demonstrates Gate.io's outstanding competitiveness in the global market, but also further consolidates its leading position in the industry.
Gate.io's achievements in 2024 have provided strong support for this December rally. In August 2024, Gate.io officially announced that it had become the official sleeve sponsor of Inter Milan Football Club, and the brand logo appeared on the jerseys of the men's team, women's team and U20 team. When the news was officially announced, Dr. Han Lin, founder and CEO of Gate.io, said: "We have always been committed to innovation and community engagement, and we look forward to bringing exciting new experiences to Inter Milan fans around the world and exploring more possibilities between football and the world of digital assets." This cooperation will promote Gate.io and Inter Milan Football Club to jointly produce exclusive content, hold joint marketing activities, co-branded peripheral products, 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 prohibit all or part of its services from restricted regions. Please read the User Agreement for more information at https://www.gate.io/user-agreement .
