Gate Research released "Key Data on Spot Listings in Gate 2025," based on a sample of 447 new assets newly listed on Gate spot in 2025, analyzing market feedback over multiple time windows from 5 minutes to 30 days after listing. The report points out that in a market environment of high volatility and high supply, for trading platforms, listing new assets is not just about covering more assets, but also tests the platform's comprehensive capabilities in project selection, liquidity organization, transaction handling, and price discovery efficiency. In terms of supply structure, Gate listed 447 new assets in spot in 2025, including 318 initial offerings (including 28 exclusive offerings) and 129 non-initial offerings, with initial offerings accounting for approximately 71%. New supply throughout the year was mainly comprised of initial offerings. Regarding first-day performance, approximately 54.8% of assets closed higher within 24 hours, with the average 24-hour increase for the rising sample being approximately 635%. The breakdown by asset type shows that initial public offerings (IPOs) had higher median returns in the early trading window: the median gain for the entire sample of IPOs within a 24-hour window was 12.56% (excluding extreme cases, 8.03%), significantly higher than the 1.18% for non-IPOs (excluding extreme cases, 0.86%). Exclusive projects showed more concentrated early performance: nearly 80% (22/28) closed higher within the first 30 minutes, with a median gain of approximately 81%, and over one-third of exclusive projects achieved a gain of ≥100% within 30 minutes. Looking at the trajectories of representative projects, Gate's IPO system covers various asset types, including traffic-driven, technology-driven, and community-driven assets, with numerous examples of gains exceeding tenfold, reflecting Gate's efficiency in selecting high-profile assets, its speed in executing IPOs, and its liquidity absorption capacity.