Wednesday, June 19, 2024
PR Newswire Area

Gate.io Emerges as Dominant Player in Inscription Token Market, Averages 30% of Exchange Token Share

PANAMA CITY, Jan. 31, 2024 /PRNewswire/ — Gate.io, a leading cryptocurrency exchange and Web3 innovator, has established a dominant position in the Inscription token market. Of the 31 popular Inscription assets Gate.io has listed, it’s averaged a 44% share of total daily volume and a 33% share of tokens held on exchanges, peaking at 92%.

Gate.io has also exceeded 10% in exchange token share for 27 Inscription tokens and 30% for 14. Moreover, the exchange held high positions in the CMC exchange volume ranking on 23 of 31 (74%) tokens it has listed. Inscription tokens in which it has secured a #1 rank include MUBI, RATS, MICE, MMSS, TURT, 1CAT, and BTCS.

To meet the increasing demand for support of Inscription tokens, Gate.io has listed several popular and rising ones, with the list gradually growing throughout 2023 and into the new year. The exchange has attributed its newfound Inscription market position to its comprehensive multi-chain and -protocol support for users and project creators in the Inscription ecosystem.

This month, Gate.io announced the launch of its Inscription Launchpad, Navigation, and Market, supporting Inscriptions across multiple protocols and popular blockchains. The Launchpad provides no-code project launch tools, fair launch and distribution mechanisms, and free participation from users. Meanwhile, Navigation serves as an Inscription aggregator, bringing together charts, market pairs, on-chain data, and project information across the entire Inscription landscape. Users can also trade Inscription pairs on-chain through the Inscription Market with no additional platform fees.

The exchange has also included Inscription tokens among the 171 assets covered in its January 2024 Proof of Reserves (PoR), the most assets, both Inscription-based and others, covered by any exchange’s PoR.

Gate.io’s dominance in the Inscription token market and its innovative solutions for users and project creators are set to strengthen its position as a leading cryptocurrency exchange and Web3 innovator.

About Gate.io:

Established in 2013, Gate.io is one of the world’s earliest cryptocurrency exchanges and a leader among compliant and secure digital asset platforms, offering diverse trading services with 100% user-verifiable Proof of Reserves. Further, the platform has consistently ranked as one of the top 10 cryptocurrency exchanges based on liquidity and trading volume on CoinGecko. Besides its primary exchange services, Gate.io has diversified its ecosystem to offer decentralized finance, research and analytics, venture capital investing, wallet services, startup incubation, and more. The platform currently serves more than 13 million active users worldwide.