Leading digital asset exchange Bitfinex is eliminating all trading fees across its platform, effective immediately. This move positions the exchange as the first major centralized venue to adopt a permanent system. Zero fees Build structure and reshape the competitive environment of cryptocurrency trading.
The new policy will apply to all significant trading products currently listed on the exchange, according to people close to the situation. These products include regular crypto spot profits, margin trading, perpetual derivative contracts, tokenized securities, and over-the-counter (OTC) trading.
Representatives of the crypto exchange said in a statement that fees will be completely abolished for both takers and market makers. With this strategic approach to eliminating transaction costs, Bitfinex emphasized that it aims to establish a new standard for leading trading platforms and promote financial inclusion.
He also expressed his belief that this new strategy will significantly increase liquidity across the market and streamline the trading process, especially for new users who are new to trading.
Multiple analysts gave their opinions on the exchange’s trends new policy. They acknowledged that this decision will play an important role in expanding the company’s services and positioning it as one of the most budget-friendly options available for trading BTC, other cryptocurrencies, and tokenized securities.
Bitfinex’s new policy sparks excitement in the crypto industry
Bitfinex Chief Technology Officer (CTO) Paolo Ardoino said in a press release that the exchange believes Bitfinex is likely to be successful in rewarding current customers and significantly attracting new customers to the platform.
He also revealed that Bitfinex is excited to implement this strategy due to Bitfinex’s long history of generating profits and technology advantages. Meanwhile, Ardoino insisted that he will closely monitor the impact of this new policy on other parts of the industry.
His remarks followed Bitfinex’s recent comments regarding market behavior it has encountered in the past. In this comment, the platform outlined the comparison announced in a public message and declared that the current period of declining trading volumes is similar to previous market cycles.
Regarding this finding, the report highlighted that such sustained declines in spot trading have frequently occurred in the past, immediately preceding large fluctuations in which prices in the market rise or fall.
Meanwhile, total spot trading volume decreased significantly across all major exchanges last month, according to data from CoinMarketCap. The trading volume has fallen from more than $500 billion recorded in early November to about $250 billion this week.
It was also confirmed that daily trading activity faced difficulty maintaining levels above the $300 billion to $350 billion range from late November to early December.
Trading volume at one point fell to $200 billion, the lowest level in months. Analysts sought to explain this continued decline as following a rapid but sharp increase of more than $550 billion that occurred in mid-November. After that, trading volumes declined at a faster pace.
Phantom introduces new features to the market
Meanwhile, Phantom, a popular non-custodial Web3 wallet based on Solana, was introduced. New features It’s called a phantom prediction market. This functionality is provided by Kalshi, a prediction market platform regulated by the Commodity Futures Trading Commission (CFTC).
In particular, Bitfinex and Phantom have a functional relationship. To illustrate this claim, sources pointed out that Phantom’s support website recommends Bitfinex as a well-known exchange that clients can use to fund their Phantom wallets.
Meanwhile, the report acknowledges that Phantom’s integration with Kalshi will allow users to explore trending events, stay up-to-date with live odds, and trade tokenized positions based on real outcomes directly within the Phantom app.
Sources familiar with the matter said the results could include areas such as politics, cryptocurrency prices, sports, culture, and economics.
In a tweet, Phantom said: “Phantom Prediction Markets are not available everywhere and may involve risks, including price fluctuations, limits on available assets, and potential regulatory changes. Trading in Prediction Markets may involve transaction fees and other risks. If your guess is wrong, you could lose all the funds you invested in the event. Mention of third parties is for informational purposes only and does not imply that we support or are associated with them.
