Just finished reading Glassnode's latest weekly report, and the changes at Gate over the past two years are even bigger than I expected. Among the exchanges covered in the report, Gate's BTC spot trading volume ranking has climbed 4 spots in two years, now sitting at third place. Its market share has grown from 2.0% to 9.1%, a 4.55x increase. Both the ranking jump and share growth are the highest on the list. Over the past 24 months, Gate has made it into the top three for 9 months, showing some consistency in performance. What I value more is the market share. When the market recovers, trading volumes across the board may rise, but growing market share from 2% to 9.1% means Gate has captured a significantly larger slice of the market in the competition among exchanges. And this is for BTC spot trading—being able to consistently secure volume in this core market carries more weight than just riding the wave of a trending coin in the short term. My perception of Gate definitely needs an update. Full report: https://research.(glassnode.com)/the-week-onchain-week-38-2026/