Bitfinex On The Rise Amid Surge in New Customer Accounts
Bitfinex, a state-of-the-art digital token trading platform, has had a 300 per cent increase in new accounts in the first month of 2021 as the exchange charts a course towards becoming the preeminent crypto trading hub.
Bitfinex’s impressive customer growth has been further underlined by a jump in activity by customers using the exchange’s mobile app, with downloads to the app increasing by 164 percent in January. Furthermore, the exchange’s Honey Framework, which enables users to create custom order types or event-driven automated trading strategies, has seen visitors to the framework more than triple.
Bitfinex has already established itself as a leading institutional hub in crypto, offering high-speed, state-of-the-art trading infrastructure. In collaboration with Market Synergy, a specialist low latency connectivity provider, Bitfinex is able to offer proximity hosting services to an increasing number of major market makers from the incumbent financial markets.
The exchange is also resurgent in the retail space as buoyant markets catapult bitcoin towards greater mainstream adoption. Branded searches for Bitfinex increased by 67 percent in January, continuing a trend of sustained month-on-month growth. Bitfinex also appeared 15.4 million times in Google’s search results in January, almost double the previous month, further illustrating Bitfinex’s prominence in the growing crypto community.
Paolo Ardoino, CTO at Bitfinex, said:
“Bitfinex is leading the charge in the crypto bull run. The surge in new customer acquisitions and uptake of new services on the platform is underlying the exchange’s place as a first-mover in innovation. It is no surprise that more and more investors are taking note of what we have to offer and starting to trade on the platform. We expect this impressive growth to continue as we enter a new chapter in the exchange’s history.”
Traders on Bitfinex are using algorithmic trading programs to deploy High-Frequency Trading (HFT) strategies such as statistical arbitrage and volatility arbitrage. Furthermore, traders are deploying algorithms on the exchange’s Honey Framework to exploit rapid price fluctuations in bitcoin, Ethereum, and other leading cryptocurrencies. The framework, which integrates natively into the Bitfinex trading platform, also enables traders to backtest market data in order to better inform algorithmic trading strategies.
Furthermore, as holders of digital tokens seek new opportunities to make their crypto work for them, Bitfinex has also seen strong growth in Bitfinex Borrow. The peer-to-peer (P2P) digital token loan portal has recorded a 55 percent increase in new users visiting its landing page in January over December.
In recent months, Bitfinex has launched a variety of services to serve the growing cryptocurrency space. These include the Ethereum (ETH) 2.0 staking service, historical order book data on real-time market data feed Bitfinex Terminal, as well as personal loans on Bitfinex Borrow.
Furthermore, Bitfinex is leveraging its position as a one-stop-shop for digital token trading, offering a variety of services, including peer-to-peer financed trading with up to 5x leverage.
Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for digital token traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market, and financed trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.
Media Contact for Bitfinex
Senior Public Relations Manager