02-08-2025
Cryptocurrency Live News & Updates : Gate US Launches Amid Crypto Skepticism
02 Aug 2025 | 01:55:11 AM IST
Gate US has commenced operations in a market where most Americans recognize cryptocurrency but few understand it, presenting a significant challenge for the exchange. Gate US has officially launched its spot trading services for U.S. customers, navigating a landscape where 95% of Americans are aware of cryptocurrency, yet only 35% claim to understand it. This skepticism poses a challenge for Gate Group as it aims to attract mainstream users. Meanwhile, DeFi Development Corp. has partnered with Solflare to enhance the adoption of on-chain financial products, leveraging Solflare's user base of over 4 million. In contrast, Pi Network's token has seen a drastic decline, dropping over 86% from its all-time high, primarily due to oversupply and limited exchange listings. Technical indicators suggest a potential short squeeze could occur if Pi is listed on major exchanges. Additionally, several altcoins, including Toncoin and TRON, are showing resilience despite Bitcoin's recent dip, with traders optimistic about upcoming price movements. AAVE, despite its price drop, is experiencing a surge in network activity and fees, indicating a strong underlying performance in the DeFi sector. The current market dynamics highlight both challenges and opportunities as exchanges and projects strive to engage a skeptical audience. Show more
