Gate’s November 2025 Transparency Report details a $163bn one-month spot trading volume alongside rapid ecosystem adoption, positioning the exchange’s “All in Web3” push as a scale play. The report underscores liquidity, reserve health and product milestones as core signals for investors, product teams and compliance officers evaluating a centralized exchange acting as a Web3 integrator.
Trading volume, reserves and incentive programs
The report cites $163bn in spot trading volume for November 2025, representing a 6.04% market share for that month. It also discloses $10.865bn in reserve assets and a 128.57% reserve ratio as of May 2025, defining that ratio as the share of customer liabilities covered by verifiable reserve assets. Gate additionally reports $3.3m distributed through its Launchpool rewards program, describing it as a mechanism to incentivize participation in project launches and token distributions within the platform’s ecosystem.
Gate’s reported user base surpassed 41 million by Q3 2025, and the Gate Layer reached 100 million wallet addresses within two weeks of launch, indicating rapid on-chain uptake of its foundational infrastructure. The company pairs these figures with the deployment of Gate Perp DEX for decentralized perpetual trading and Gate Fun for entertainment-oriented experiences, presenting them as components of a unified stack meant to reduce user fragmentation across wallets and platforms. The strategy is framed as driving user stickiness and cross-product engagement through tighter integration.
Gate places this third-party label alongside its quantitative disclosures to reinforce a narrative of operational standing, institutional strength and ecosystem momentum.
Gate’s disclosures are positioned as evidence of a hybrid model in which a centralized operator serves as an on-ramp and integrator for Web3 services. The report argues that combining centralized liquidity and operational controls with decentralized primitives can lower onboarding friction for mainstream users while reinforcing the exchange’s role in coordinating cross-ecosystem activity.
For compliance and institutional stakeholders, the salient elements are the transparency of reserves and the publicly stated user and usage figures. For product teams, rapid Gate Layer adoption is highlighted as a signal of demand for interoperable tooling and lower-latency integrations aligned with a full-stack approach to Web3 participation.
Gate’s November 2025 Transparency Report provides a quantified snapshot of trading volume, reserves and product uptake. Supporters present these disclosures as validation of its full-stack Web3 strategy and as a baseline for tracking whether high monthly volume, reserve coverage and Gate Layer address growth are sustained in future reports.