A $396 billion trading volume is just the beginning? Gate’s real ambition may go beyond earning trading fees

What’s the biggest fear for a trading platform? It’s not a lack of market buzz, but users cashing out and leaving after making a round of profits. Gate released its third-quarter 2026 report, showing derivatives trading volume reached $396 billion in September, up 38.2% quarter over quarter, while spot trading volume reached $48.8 billion. The numbers look impressive, but what’s more worth pondering is: what else can the platform rely on to keep growing?
Relying solely on trading inevitably leaves a business exposed to market cycles. In a bull market, users are incredibly active, but when conditions cool, their enthusiasm for trading may fade too. So expanding into comprehensive financial services is not only a way for platforms to find new revenue streams, but also an attempt to reduce their reliance on a single business.
In theory, more asset classes, a richer range of products and services, and a smoother account experience could all help platforms improve user retention. However, the more businesses a platform has, the greater the complexity of operations, risk management, and compliance. Finance isn’t a bubble tea shop—you can’t add pearls today, coconut jelly tomorrow, and declare yourself the industry leader the day after.
What Gate really needs to prove in the future is whether its different businesses can create synergies: whether trading users can naturally become users of other products, and whether new businesses can generate sustainable revenue rather than merely making the product menu thicker.
Market conditions can drive up trading volume, but long-term competitiveness comes from building a business over time. The market provides the excitement; keeping users is a platform’s own skill. $TSLA

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