The revenue of the popular crypto trading platform Bitfinex has doubled during the first quarter of the year.
According to research conducted by The Block, the exchange made a revenue of about $21.4M in Q1 2020, an increase of 96% compared to the last quarter of last year, when the revenue stood at $10.91M.
However, in spite of the clear increase in revenue compared to 2020, in fact, there has been a slight decrease compared to Q3 2019 figures, when the exchange's revenue soared to $26.15M.
It must be noted the number of operations carried out on the platform has also significantly grown, something that should not surprise anyone if we consider that most of the exchange's revenue is generated from trading fees, so a higher revenue always comes with high trading volumes.
iHodl has recently reported about several news related to Bitfinex. For instance, in April it was known the exchange had transferred $1.1B in BTC for a fee of $0.68, while in March it announced it was removing 85 trading pairs.
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