Trade
Trading Type
Spot
Trade crypto freely
Pre-Market
Trade new tokens before they are officially listed
Margin
Magnify your profit with leverage
Convert & Block Trading
0 Fees
Trade any size with no fees and no slippage
Alpha
Points
Get promising tokens in streamlined on-chain trading
Leveraged Tokens
Get exposure to leveraged positions simply
Futures
Futures
Hundreds of contracts settled in USDT or BTC
Options
HOT
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Futures Kickoff
Get prepared for your futures trading
Futures Events
Participate in events to win generous rewards
Demo Trading
Use virtual funds to experience risk-free trading
Earn
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Launchpad
Be early to the next big token project
Alpha Points
NEW
Trade on-chain assets and enjoy airdrop rewards!
Futures Points
NEW
Earn futures points and claim airdrop rewards
Investment
Simple Earn
Earn interests with idle tokens
Auto-Invest
Auto-invest on a regular basis
Dual Investment
Buy low and sell high to take profits from price fluctuations
Soft Staking
Earn rewards with flexible staking
Crypto Loan
0 Fees
Pledge one crypto to borrow another
Lending Center
One-stop lending hub
VIP Wealth Hub
Customized wealth management empowers your assets growth
Private Wealth Management
Customized asset management to grow your digital assets
Quant Fund
Top asset management team helps you profit without hassle
Staking
Stake cryptos to earn in PoS products
Smart Leverage
NEW
No forced liquidation before maturity, worry-free leveraged gains
GUSD Minting
Use USDT/USDC to mint GUSD for treasury-level yields
More
Promotions
Activity Center
Join activities and win big cash prizes and exclusive merch
Referral
20 USDT
Earn 40% commission or up to 500 USDT rewards
Announcements
Announcements of new listings, activities, upgrades, etc
Gate Blog
Crypto industry articles
VIP Services
Huge fee discounts
Proof of Reserves
Gate promises 100% proof of reserves
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1. Institutional Dynamics and Market Participants' Performance
A certain exchange achieved strong performance in 2025, with total trading volume reaching $34 trillion, user assets totaling $162.8 billion, and the total number of users surpassing 300 million. Compliance and security measures were improved, and the outlook for 2026 focuses on enterprise-level applications and growth driven by sovereign funds.
MicroStrategy's stock price declined for six consecutive months in 2025. Despite continuously increasing Bitcoin holdings (holding 672,497 BTC as of December 30, worth nearly $59.5 billion), its stock performance lagged the market, facing risks such as index exclusion and high volatility.
2. Bitcoin Market Performance and Cycle Analysis
Bitcoin's performance in Q4 2025 was weak, recording a -23.07% decline, making it the second-worst quarter on record and breaking historical seasonal patterns (the average Q4 return historically is 77.07%).
During the New Year's holiday in 2026, Bitcoin traded sideways with reduced volume, oscillating between $86,000 and $88,500. Technical support and resistance levels are clear, but the short-term trend is weak. Institutional fund outflows led to liquidity shortages.
3. Stablecoins and Reserve Asset Strategies
Tether continued to increase its Bitcoin holdings in 2025, purchasing 8,888 BTC on New Year's Eve, with total holdings exceeding 96,000 BTC, unrealized gains of $3.524 billion. Tether also holds 116 tons of gold, ranking among the top 30 largest gold holders worldwide. Tether's Bitcoin reserve address ranks fifth globally, and second among private enterprise treasuries, purchasing Bitcoin with 15% of quarterly profits to strengthen reserves.