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Bitfinex sees volume, user growth after removing trading fees

Created at 2 Jun · 9:48 AM1 source↑ Market-relevant
IN SHORT

Bitfinex reported increased trading volume and customer acquisition after eliminating trading fees. The exchange also noted a peer-to-peer lending market valued in the billions of dollars. Paolo Ardoino discussed these results on the CRYPTO101 Podcast.

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Who's Involved

Bitfinex
cryptocurrency exchange that removed trading fees
Paolo Ardoino
discussed outcomes on CRYPTO101 Podcast

↳ Why This Matters

The decision by Bitfinex to eliminate trading fees is a significant move in the competitive cryptocurrency exchange landscape. This strategy aims to attract and retain users by reducing the cost of trading, potentially leading to increased market share and activity on the platform.

Key facts

  • Bitfinex removed trading fees.
  • The exchange experienced increased trading volume.
  • Bitfinex saw growth in its customer base.
  • The platform's peer-to-peer lending market is valued in the billions of dollars.

The decision by Bitfinex to eliminate trading fees is a significant move in the competitive cryptocurrency exchange landscape. This strategy aims to attract and retain users by reducing the cost of trading, potentially leading to increased market share and activity on the platform.

Frequently asked questions

Bitfinex removed its trading fees entirely.

The exchange observed an increase in trading volume and its customer base, along with a multi-billion dollar peer-to-peer lending market.

Paolo Ardoino discussed these results on the CRYPTO101 Podcast.

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Cadence

How It Developed

2 Jun · 9:35 AM
Bitfinex saw increased volume and customer base after removing trading fees, with its P2P lending market reaching billions.
@bitfinex via PiQSuite

Sources

T1
What happens when an exchange removes trading fees entirely? For Bitfinex: volume up, customer base up, peer-to-peer lending market in the billions of dollars. @paoloardoino breaks it down on @CRYPTO101Pod. https://t.co/8C06O1m1T3@bitfinex via PiQSuite

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