Traders on Gate Choose Gold and Silver Over Bitcoin

Crypto exchange Gate is showing a striking shift: trading volume in traditional assets is dominated by precious metals such as gold and silver, accounting for as much as 89.3%. This is according to data from CryptoQuant. Analysts see this as a sign that traders are increasingly opting for safe havens rather than cryptocurrencies like Bitcoin, which is currently at $62.220. up 1.8% in the past 24 hours.

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Precious metals dominate TradFi volume on Gate

The CryptoQuant chart shows that among all traditional financial assets (TradFi) on Gate, equities account for only 5.1% of volume and oil for 5.4%. Precious metals thus take the lion’s share at 89.3%. Gold (XAU) and silver (XAG) are the largest players within that, as can be seen in the second chart breaking down volume per ticker. At peak moments, total metals volume rises to over $1.2 billion.

CryptoQuant analyst Oinonen states that this behaviour is typical of a risk-averse market environment. Traders are deliberately choosing gold and silver, either as an alternative to crypto or as a hedge alongside their existing crypto positions. The pattern visible on Gate suggests that part of the market is not yet fully convinced of a sustained bull run in altcoins and Bitcoin.

What does this say about market sentiment?

The increased use of precious metals as a hedge fits a broader pattern that analysts have observed for some time. Large players are cautious and diversifying risk, while large Bitcoin players are driving the market towards a final stress test. This makes the current market phase especially interesting to follow.

Notably, oil volume on Gate only became visible around the beginning of May and has since increased slightly, which may point to a growing interest in commodities as a broader category. At the same time, recent data showed that Bitcoin whales secretly bought the dip around $60.000, indicating that not everyone is positioning defensively. The market thus shows a split: cautious investors seek protection in precious metals, while opportunistic buyers are taking advantage of Bitcoin dips.