Bitfinex brought in $21.4 million in revenue in Q1 2020, up 96% from last quarter

advertisement

Bitfinex generated $21.4 million in revenue in the first quarter of 2020, nearly twice as much as it brought in during the final quarter of 2019.

According to new research from The Block, Bitfinex generated $21.4 million during the first quarter of 2020 - a 96% increase from the $10.91 million revenue in the final quarter of last year - and a small decrease from the $26.15 million revenue in 2019's third quarter.

Source: The Block Research, Bitfinex

Bitfinex's trading volume exhibits similar patterns as its revenue, which is an expected outcome since Bitfinex derives most of its revenues from trading fees.

 

Source: The Block Research, Bitfinex

Generally speaking, while Bitfinex is still the most liquid exchange out there, it has clearly lost some steam in recent quarters. Since January 2019, Bitfinex's share of total legitimate volume has dropped from 13.7% to about 5% in April.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Will Sanctions Drive Russia into the Arms of Cryptocurrencies?

From the removal of many Russian banks from SWIFT to a seemingly constant flow of new sanctions, Russia’s invasion of Ukraine has left many to wonder: Is the country likely to lurch towards cryptocurrencies? And if so, what does this mean for businesses that are holding and/or using crypto? Crypto and sanctions evasion Although crypto […]
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC
More