Gate's Reserve Coverage Surpasses 127%, Reaching $8.215 Billion
Gate has released its latest reserve report, showing that as of August 19th, 2023, the platform's total reserves have reached $8.215 billion, exceeding a 127% coverage ratio.
The core assets on the platform saw significant growth, with Bitcoin (BTC) user asset sizes increasing to 22,436 units from 21,557 in the previous period, resulting in an excess reserve rate of 22.79%. Ethereum (ETH) user assets also grew by 1,081 units, reaching a total of 375,429 units and an excess reserve rate of 22.05%.
Stablecoins saw a notable increase in user asset totals, with USDT, USDC, USD1, and GUSD combined reserves growing to $17.61 billion from $15.9 billion in the previous period, representing a comprehensive reserve ratio of 111.63%. The excess reserve proportion for stablecoins is now at 11.63%.
Gate's reserve report also highlighted the platform's coverage ratios for other major assets, with GT and XRP reaching levels of 131.15% and 116.09%, respectively.