Unstoppable: Gate.io becomes the second largest crypto exchange in the world
Real-time price tracker Coingecko has released the latest transaction volume data from crypto exchange platforms and Gate.io has climbed the ranks.
Gate.io is one of the oldest crypto exchanges and has shown a significant increase in their financial activity during the last couple of years.
The innovative modalities and upgrades of the exchange have had a lot to do with its growth. The Gate.io platform allows its users to access investments such as:
- Startup: A tool that allows Gate.io users to invest in projects from their very first steps.
- NFT Magic Box: A marketplace that allows the creation and commercialization of NFTs within the platform, accessible to all users.
- GateChain: A native blockchain ecosystem inside the very exchange.
- Gate Ventures: A venture capital investment division.
Its wide range of products and services increased the popularity of the platform, surpassing 10 million users by early 2022. This made it the second largest crypto exchange in the world by daily trading volume according to data from CoinGecko.
Binance speaks up against privacy concerns: News about the exchange giving users’ information are “categorically false”
The Reuters news agency issued a report in which Binance allegedly provided user data to the Russian government during a meeting between Gleb Kostarev (Head of Binance for Europe and Asia) and officials from Rosfinmonitoring, a financial monitoring service linked to the Federal Service (FSB) in April 2021. Binance recently spoke about it and claimed the accusation was “categorically false”.
The exchange also explained that the false narrative was trying to avoid legal complaints from the agency. Binance denied having shared any user data with Russian organizations and said it had stopped working in Russia after the Ukraine invasion.
The market trembles: Bitcoin’s fight to stay above $39.000
- The bulls fight for dominance above $39,000 in their race to the yearly opening price.
- After a correction in the cryptocurrency market during the first half of April, Bitcoin has begun to show signs of a possible change in trend, pointing to $47,000 as a target price.
- The bullish signal that the buyers need is to hit the $42,000 level and consolidate around that area. However, the sell-offs pushed Bitcoin price back towards $35,500 as it headed into the weekend.
- Buyers are regaining dominance over the market and defending key supports, although they will have to maintain a consolidation above the $41,700 level to generate significant bullish waves.
At the time of writing, Bitcoin’s price is $39,800 and expects volume heading into the markets open on Monday.