Recently, cryptocurrency exchange Gate.io completed burning 10,237,375 GateToken (GT), worth roughly 40 million U.S. Dollars, accounting for 7.5% of GT’s current circulation, according to the platform’s press release. Gate.io’s historical data suggests the fiat value burned this quarter is the largest thus far. 

GateToken Price Soar

The reduction of the supply brings layers of benefits to Gate.io and GT. In particular, the price of GT has seen a significant jump. According to CoinGecko, the asset is currently trading around $4, having jumped 12% in the past 24 hours. Looking at a longer time horizon, GT token’s price has risen almost 70% in just 7 days and over 860% in the past 12 months while the market capitalization has seen a similar rate of growth, hitting over 688k USD. Note: Data recorded on April 15, 12 pm PST.

While token burning definitely contributed to the short-term price jump, GT token’s growth in and innovation. 

Globally recognized security system

Gate.io’s exchange is recognized by CER as one of the safest cryptocurrency exchanges in the world. CER is an independent certification firm that uses the newest methodology with over 18 indicators and dozens of complex security assessments to review an exchange’s cybersecurity system. Gate.io is currently ranked alongside large and established exchanges such as Coinbase, Binance, and Crypto.com. 

Commitment to Transparency and Ethics since Day 1

Unfortunately, one of the most common news in the crypto market is fraud. In a shocking report, Bitwise found that 95% of Bitcoin trade volume is fake while another report by Alameda Research reported that over 70% of all cryptocurrency volume reported on CoinMarketCap is fake. The reason for this fraud is often because exchanges want to attract users to their platform and/or ensure the continuous large volume standing. 

Unlike the majority of both small and large exchanges, Gate.io has rejected incentives to “cheat” the system but instead chosen to grow steadily, holding onto transparency and ethics in its core since establishment. In CoinGecko’s Trust Score 2.0 consisting of over 400 exchanges, Gate.io ranked among the top five in the world with a perfect trust score of 10. This reputation and trust built by Gate.io over time is a powerful foundation for the stability and growth of GT. 

Astonishing ROI from Startups backed by Gate.io

Since the formation of Gate.io Startup, a platform to assist selected teams to launch their startup, the firm has seen astonishing growth in these projects. Key highlights include TotemFi, Cook, and Yield which has recorded an ROI of 45900%, 3947.5%, and 3688% respectively. The success isn’t just from these spotlight firms but is seen across the platform’s portfolio, which has an average ROI of 971.53%. According to statistics from CryptoRank, the platform’s project yield rate ranks third in the world. This could not have been possible without Gate.io’s diligence in selecting the best quality projects and its commitment to assist them. 

The exceptional performance of Gate.io Startup-backed projects no doubt has a powerful positive impact on GT’s price as Gate.io proves its innovative abilities and begins to become a unique highlight in the market.