Key Highlights
- Bitfinex has announced a zero-fee basis for all trading activities for both market makers and takers
- The company revealed that this change will increase overall market liquidity and lower the barrier to entry for crypto trading
- Phantom has also announced the integration of a prediction market, powered by Kalshi
On December 17, the cryptocurrency exchange, Bitfinex, announced a change in how it charges its customers. The platform has adopted a zero-fee structure for all trading activities, effective immediately.
This change will be applied to every major trading product on the exchange, including standard crypto spot gains, margin trading, perpetual derivatives contracts, tokenised securities, and over-the-counter (OTC) trades.
The policy will remove fees for both market makers and takers across the board.
By eliminating trading costs, Bitfinex is expected to set a new benchmark for major trading platforms and advance financial inclusion. Bitfinex believes that the change will increase overall market liquidity and lower the barrier to entry for crypto trading, potentially attracting new users to the market.
This decision will help Bitfinex to grow its services and make it one of the most cost-effective venues for trading Bitcoin, other digital currencies, and tokenised securities.
“We see a significant opportunity to incentivise our existing customers and attract potential new customers to the platform. Thanks to the long-standing profitability of Bitfinex and the resilience of our technology stack, we are pleased that we can make this strategic change, and recognise the significant impact it has on the rest of the industry,” Paolo Ardoino, Chief Technology Officer, Bitfinex, stated in the press release.
This comes after Bitfinex’s recent remark on historic market behaviour. The cryptocurrency exchange recently pointed out this parallel in a public post. The firm stated that this period of low volume is reminiscent of past market cycles.
Historically, such extended drops in spot trading have often come just before the market begins its next major price movement, either upward or downward.
Bitfinex Reveals Sustained Volume Decline Across Exchanges
According to CoinMarketCap, the total 30-day spot trading volume across all major exchanges has fallen dramatically. It has dropped from a high of over $500 billion in early November to approximately $250 billion this week.
Throughout late November and early December. Daily activity repeatedly failed to sustain levels above the $300 to $350 billion range.
On some days, volume fell as low as $200 billion, which is the lowest point observed in several months. This continuous decline occurred after a brief but sharp spike above $550 billion in mid-November, from which volumes rapidly retreated.
Phantom Rolls Out Kaleshi-Powered Prediction Markets to Users
Popular Solana-based crypto wallet Phantom has announced the launch of its new Phantom Prediction Markets feature, powered by Kalshi, which is a CFTC-regulated prediction market platform.
The integration will allow users to see trending events, track live odds, and trade tokenised positions on real-world outcomes directly within the Phantom app.
This could span politics, crypto prices, sports, culture, and economics.
Phantom stated in a tweet, “Prediction markets in Phantom are not available in all jurisdictions. They may involve risks, including but not limited to volatile pricing, limited liquidity, and potential regulatory changes. Trading prediction markets may incur transaction fees and other costs. If your prediction is incorrect, you may lose the entire amount you allocate to an event. References to third parties are informational only and do not imply endorsement or affiliation.”
Also Read: Coinbase Integrates Solana DEX, Opening Access to 100M Users
