In this bull run period for the crypto market, Bitfinex is increasing the number of members on its exchange perhaps also thanks to the WallStreetBets group.
The press release issued today by Bitfinex reads:
“As the exploits of the Wallstreetbets Reddit group demonstrates, we are in an era where technology is enabling those outside the inner circle of Wall Street to do battle with financial titans. In the case of Wallstreetbets it was retail investors banding together to put a short squeeze on hedge funds”.
Bitfinex’s user growth during the first month of 2021 was an impressive 164%, especially in terms of mobile app downloads.
Bitfinex is one of the most popular and highest-volume exchanges in the world, so it’s no surprise that in this time of crypto market frenzy an increasing number of people prefer this platform that provides numerous tools for traders and professionals alike.
For example, on Bitfinex there are algorithms for High-Frequency Trading (HFT) such as arbitrage statistics and arbitrage to exploit market volatility to one’s advantage.
In addition, traders can exchange ideas and strategies using Bitfinex Pulse, the social network for professional traders.
Furthermore, just last night Bitfinex launched the Bitfinex Terminal, a real-time market data aggregator that will now also provide historical data.
This will give Bitfinex customers access to metrics such as the Flash Return Rate (FRR) and other market data.
Bitfinex and the crypto bull run
Paolo Ardoino, CTO of Bitfinex, explained:
“We’re pleased to provide this advanced tool enabling a more granular analysis of historical funding data for our growing number of algorithmic traders. We anticipate great interest in this offering and look forward to expanding the range of tools available even further to empower our users’ trading strategies.”
For all these reasons, searches for Bitfinex in January on Google increased by 67% in one month, appearing in 15.4 million searches. Paolo Ardoino, CTO of Bitfinex, explained:
“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.”