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Competition among exchanges extends to everyday payments, Gate launches a brand new one-stop financial portal Gate Money

According to an official report from Cointelegraph, the competition among cryptocurrency exchanges is undergoing transformation, with the industry's focus gradually shifting from trading data to users' broader daily financial needs. During TOKEN2049, Gate officially launched a one-stop financial service application, Gate Money, to lead this new competitive landscape.Dr. Han, the founder and CEO of Gate, pointed out that Gate Money aims to break down the barriers between traditional investments and daily consumption. It integrates users' named bank accounts, fiat currencies, cryptocurrency assets, and traditional financial holdings such as stocks and gold into the same account system, combined with the Gate Card that supports Apple Pay and Google Pay, as well as a Visa co-branded card, granting assets instant consumption capabilities. It also integrates various fiat currency deposits and withdrawals, on-chain transfers, instant exchanges, and up to 3.6% annualized wealth management, achieving a one-stop experience for asset management, appreciation, and payments.While expanding its business, Gate always places compliance and transparency at its core. Currently, the platform has obtained compliance qualifications in Malta, Dubai, Australia, and the United States; the platform's total reserves amount to $8.688 billion, with a comprehensive reserve ratio of 118.49%. The launch of Gate Money marks Gate's acceleration towards upgrading into a comprehensive financial ecosystem that encompasses daily payments and comprehensive asset management.

The Gate event market has a cumulative trading volume of approximately 909 million USD, ranking second among the channels connected to Polymarket

According to the latest data from Polymarket Builders, the Gate event market has a cumulative trading volume of approximately $909 million, ranking second among all access channels on Polymarket and consistently remaining at the forefront of major trading entrances.The Gate event market has launched a quarterly earnings prediction challenge, setting a total reward of 90,000 USDT around the earnings events of popular companies such as Microsoft, Apple, and Amazon. Activities include new trader transactions, inviting friends, and profit rankings, with the top of the leaderboard eligible for a reward of up to 5,000 USDT.Gate is the first to layout the event market, creating a one-stop trading experience for global hot events. Users can participate in trading directly through the Gate App, placing orders using USDT from their spot accounts without the need for on-chain operations. The platform has launched the Combo prediction feature and introduced a macro market topic page related to the U.S. midterm elections, focusing on displaying market probabilities and trading data for key macro topics such as Federal Reserve interest rate decisions, inflation, employment, and economic growth. At the same time, it continues to improve features such as intelligent monitoring, AI analysis, profit and loss analysis, and quick trading, enriching the trading scenarios and information service capabilities of the event market.

Famous trader: Bitcoin is at a local bottom, with a target still at $94,000

Renowned trader Doctor Profit stated that he has completed long positions in Bitcoin within the range of $80,000 to $81,000, with an average entry price of $80,400, and his target remains at $94,000. He continues to hold Bitcoin spot with an average cost between $60,000 and $64,000, believing that the range of $80,000 to $81,000, extending down to $79,000, represents an accumulation zone and a local bottom.Doctor Profit mentioned that the demand for spot in this area is stronger, and long positions are gradually being established, while most retail sentiment is bearish. Regarding institutional holdings, he stated that the average buy-in cost for Bitcoin reserves is about $80,200, and the average buy-in cost for reserves and U.S. spot ETFs is roughly between $80,000 and $81,500. He also noted that as of October 20, spot buy orders around $80,000 on Binance have been re-accumulated, with the profit-taking speed reduced to about half of the peak in September.He assesses that recent selling pressure mainly comes from retail investors, futures shorts, and some short-term holders, while medium to long-term holders who bought in the range of $60,000 to $70,000 still tend to hold their positions. Technically, he hopes Bitcoin can regain the 50-day exponential moving average and close above it on a daily basis, but he stated that even if this is not achieved temporarily, it does not change his judgment on the local bottom. He also reminded to pay attention to the Federal Reserve's interest rate decision on October 28.
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