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Convert & Block Trading
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Alpha
Points
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Futures
Futures
Hundreds of contracts settled in USDT or BTC
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HOT
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Demo Trading
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Launch
CandyDrop
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Launchpool
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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!
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NEW
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Soft Staking
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0 Fees
Pledge one crypto to borrow another
Lending Center
One-stop lending hub
VIP Wealth Hub
Customized wealth management empowers your assets growth
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Customized asset management to grow your digital assets
Quant Fund
Top asset management team helps you profit without hassle
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Stake cryptos to earn in PoS products
BTC Staking
HOT
Stake BTC and earn 10% APR
GUSD Minting
Use USDT/USDC to mint GUSD for treasury-level yields
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Activity Center
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Referral
20 USDT
Earn 40% commission or up to 500 USDT rewards
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Gate Blog
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Proof of Reserves
Gate promises 100% proof of reserves
Will we still see 24,000 BTC in 2025? This story starts with a certain top-tier exchange's USD1 promotion.
Here's how it went: an exchange launched a USD1 deposit campaign with a 20% annualized return, which sounded pretty good, but the cap was only 50,000. Many people started exchanging USD1/USDT, and as a result, USD1 suddenly surged by 0.39%. This increase was huge, and some "smart people" sniffed out an opportunity—they went to activate VIP lending features, directly borrowed USD1 to sell spot to users looking to invest, making a clear arbitrage profit.
But the story didn't end there. One guy saw USD1 rising happily and suddenly thought of a "trick": instead of messing around with USD1/USDT, why not just trade BTC/USD1 directly? Excited, he threw all his BTC into buying USD1, even hitting a market sell.
Guess what happened? BTC was forcibly dumped down. Dropped all the way to 24,000… Yes, that price level that reminds people of a few years ago.
Seeing this scene, some people even thought: maybe we should install a slippage protection software—at such an outrageous price, how long would it take to see it again?