After last week's big green candle, market sentiment is clearly back. At first, everyone thought *The Bull is Back* was just a movie. Now that BTC is back near $77,000, more and more people are shouting 'The bull is here,' hahaha At the same time, major exchanges are doubling down, continuously expanding their offerings like on-chain stocks, stablecoin investments, and derivatives trading. Everyone's competing for funds, users, and new growth opportunities. But competition between exchanges is no longer just about trading volume. Trading volume can be quickly boosted by market trends, market-making, and promotions. What’s truly worth paying attention to is how much capital is willing to stay on the platform long-term. According to the latest data from DeFiLlama, Gate currently holds about $6.39 billion in user assets, ranking 6th globally and 4th among Chinese-speaking exchanges. This reflects that Gate's user asset retention is entering the top tier. Beyond user assets, reserve capacity is equally important. Gate's latest reserve report shows that as of August 19, 2026, the platform's total reserves reached $8.215 billion, with an overall reserve ratio of 127%. Among these, BTC and ETH both have over 22% in excess reserves, and the comprehensive reserve ratio for stablecoins is 111.63%. When the market recovers, products can drive growth. But in the end, what really retains users, in my opinion, is liquidity, transparency, and asset security