Gate Exchange experienced a dramatic rise in futures trading last month. Futures volume stood at $740 billion, which was a gain of 46.5% compared to June, when it posted $505 billion. The exchange now ranks among the fastest-growing centralized exchanges (CEXs) in the world.
Gate’s Volume Growth Outpaces Competitors
Gate is one of the top 10 crypto exchanges with over 3500 assets and 34 million traders worldwide. It also offers hot and cold wallet storage options for users, along with main trading options like spot, futures, airdrops, and staking features.
The volume of futures went up by about 50%, which means that the exchange was able to draw in both individual and institutional investors who were interested in trading with leverage.
With volatility returning to broader crypto markets, the depth and scalability of the Gate Exchange trading platform were well tested, as large-volume orders were completed with minimal levels of slippage.
In July, Gate Exchange captured 8% of the global futures market. This brings the exchange nearer to leaders in the futures space.
Implications
Other crypto exchanges could be forced to reconsider their services and pricing schedules by the increase in the futures volume, since the traders are more likely to prefer the platform that combines better liquidity with various features and incentives for future trading.
To sustain itself, Gate Exchange will have to keep investing in infrastructure, users, and regulatory compliance.
Assuming that the exchange will sustain the growth momentum, it may form one of the main ecosystems when it comes to leverage trading, broadening the crypto derivatives market. Its performance in July can be considered a wake-up call to other competing exchanges.
