Recently, Gate.io, a leading global digital asset trading platform, released its October 2024 Proof of Reserves Report. The data shows that Gate.io’s total reserves reached $6.499 billion, with a total reserve ratio of 120.22% and excess reserves of $1.093 billion, representing a 26.6% increase since May.
Growth in Mainstream Digital Asset Reserves
The reserve data for mainstream cryptocurrencies has become a crucial metric for assessing a trading platform’s stability amid market fluctuations. Adequate reserves help the platform withstand market volatility and reflect the stability of its fund management capabilities.
The report indicates that Gate.io’s reserves cover as many as 209 different digital assets, with notable performance in reserves for major cryptocurrencies like BTC and ETH. Specifically, BTC reserves amount to 20,070 units, a 9% increase since May, with a reserve ratio of 119.54%. ETH reserves stand at 275,530 units, with a reserve ratio of 125.84%, reflecting a 16.7% increase since May.