April 21, 2021

Bitfinex Exchange Revenues Rise to $ 21 Million in Q1 2020

Bitfinex cryptocurrency exchange recorded revenue growth of 96% in the first quarter of 2020 relative to indicator for the previous three months to $ 21.4 million. This is reported by The Block.

These numbers are still below the $ 26.15 million that were generated from the more successful July-September 2019 period for Bitfinex.

Bitfinex Exchange Revenues Rise to $ 21 Million in Q1 2020

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The publication associates the growth of income with increased trading volumes, since the majority of the income the exchange receives from trading commissions.

Bitfinex Exchange Revenues Rise to $ 21 Million in Q1 2020

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The Block reminded that amid the gainBitfinex gradually lost its leading position - since January 2019, the share of the Bitcoin exchange in the adjusted trading volume among trustworthy participants has decreased from 13.7% to the current 5.0%.

Recall that in April Bitfinex launched a socialA platform focused on bitcoin traders. The exchange also announced plans to add the pBTC token to the listing to form gateways between bitcoin blockchains and DeFi ecosystems based on EOS and Ethereum.