Categories: Market Watch

BRC-20 Tokens Exceed $110M 24hr Trading Volume on Gate.io

Panama City, Panama, December 6, 2023  

The latest market data from Gate.io, a leading crypto exchange and Web3 innovator, shows that daily BRC-20 trading volume peaked at $116 million, with assets such as $ORDI and $PIZABRC increasing 17% and 245%, respectively. In addition, the exchange announced that BRC-20 tokens will now be included in its Proof of Reserves (PoR) reporting, which already has among the most extensive coverage of any exchange.

Following recent upgrades to its PoR process to implement zero-knowledge tech and increase reporting frequency and coverage, Gate.io’s PoR will include BRC-20 tokens starting December 5, 2023. The exchange strictly stands by its 100% reserves guarantee, with current excess reserves valued at $400M USDT.

This past May, Gate.io became the first exchange to list a BRC-20 token when $ORDI, the original and largest token based on this standard, began trading on its spot market. Since then, Gate.io has expanded support for twenty BRC-20 tokens, including $TRAC, $SATS, $RATS, $PEPEBRC, and others.

From early on, the exchange has supported the development of the BRC20 ecosystem through market, distribution, trading, and infrastructure support, including both on its main exchange and Gate Web3, its decentralized Web3 ecosystem, which includes adding BRC-20 as a supported protocol on the Gate Web3 Wallet, its non-custodial wallet.

Aligning with its stance of elevating builders and innovators, BRC-20 developers can access free distribution tools on Gate.io, ensuring they are connected with early adopters. Gate.io provides wide-ranging BRC-20 infrastructure solutions that benefit users and ecosystem growth, ranging from wallet support to trading and distribution. Users have access to highly-liquid markets at a low cost with no network fees and easy 24/7 deposits, withdrawals, and transfers both on- and off-chain. 

Just as Gate.io was the first to adopt now-standard PoR processes, the exchange was an early pioneer in BRC-20 trading. Despite being uncharted territory, it was identified that supporting Bitcoin-based protocols, like Ordinals and BRC-20, would promote ecosystem growth and provide users with a secure and convenient way to participate in the latest decentralized innovations.

Information contained on this page is provided by an independent third-party content provider. eTrendystock make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please email at contact@etrendystock.com

BTW

Recent Posts

Sony Electronics Singapore Now Accepts USDC Payments via Crypto.com

Sony Electronics Singapore is now accepting payments in USD Coin (USDC) on its online store,…

9 hours ago

<div>Delta Exchange: Pioneering INR-Settled Crypto F&O Trading in India</div>

In the last three months of the year, trading volumes for cryptocurrencies like Bitcoin and…

2 days ago

Pi Network’s Token Sheds 75% in Three Months as Skepticism Grows

The Pi Network (PI) has plummeted over 75% in the past three months, collapsing from…

2 days ago

Chummy Tees Review Rising Trends in the Funny T-Shirt Industry

Sonora, California, 30th March 2025, ZEX PR WIRE, As humor continues to shape popular culture,…

3 days ago

UBX Powers UBC’s 15x Surge: AI and DePIN Innovation Reshaping Crypto Investments

Singapore, 30th March 2025, ZEX PR WIRE, Recently, the native token UBC issued by the…

3 days ago

Tether Eyes U.S. Stablecoin Launch Amid Regulatory Tailwinds

Tether is weighing a crucial entry into the U.S. domestic stablecoin market as CEO Paolo…

5 days ago