Core Viewpoint - Bitfinex has implemented a long-term strategy to eliminate maker and taker trading fees to enhance its market share in the competitive cryptocurrency exchange landscape [1][2]. Group 1: Company Strategy - The zero trading fees will apply to various trading types, including spot trading, margin trading, derivatives trading, securities trading on Bitfinex Securities, and OTC trading [2]. - Bitfinex claims to have multiple revenue streams beyond trading fees, such as withdrawal fees and fees for specific capital market activities [2][3]. - The removal of trading fees is expected to create a competitive advantage, encouraging increased trading from existing customers and attracting new ones, thereby supporting higher volumes and deeper liquidity [3]. Group 2: Market Competition - The cryptocurrency exchange market is experiencing intensified competition, particularly with the rise of decentralized exchanges (DEXs), which are dividing the industry into centralized exchanges (CEXs) and DEXs [4]. - Bitfinex, as a centralized exchange, faces competition from major players like Binance, Coinbase, Kraken, and others [5]. - The emergence of decentralized alternatives has led to significant growth in daily trading volumes, with a peak of $50 billion in January 2025, currently consolidating at $11.63 billion during a bear market [6].

RT vibhu (@vibhu)Something remarkable happened last week that I thought would take another 5 yearsSOL/USDC volume natively on @solana outpaced all centralized exchanges COMBINEDIf you prefer trading onchain, you’re not alone — this is so obviously the future10x lower fees, better pricing, faster execution + you own your keysOnchain everything is inevitable ...

Cryptocurrency Security - Industry advises users to withdraw cryptocurrency from centralized exchanges [1]

Market Trends & Cryptocurrency Dynamics - BNB's price surged to record levels, surpassing approximately $1300 USD and exceeding XRP in market capitalization [1] - Increased activity on BNB Chain is indicated by network metrics [1] - Decentralized exchanges on BNB Chain experienced elevated volume [1] - Total Value Locked (TVL) on BNB Chain has increased [1] Ecosystem & Speculation - Memecoin speculation on BNB Chain intensifies interest in BNB [2] - A reinforcing cycle exists between ecosystem hype and infrastructure demand [2]

Core Insights - A cryptocurrency account linked to the "Coinbase hacker" has been actively trading, resulting in significant losses during a capitulation event in Ethereum trading [1][4] - The May 2025 data breach led to user fund transfers being tricked, with losses estimated between $180 million and $400 million [2] - On-chain analysts, including ZachXBT and Arkham Intelligence, have been tracking the activities of the alleged hacker [3] Trading Activities - The hacker's account purchased 3,976 ETH for $18.9 million at $4,756 per token on September 13, but sold it two days later for $17.98 million at $4,522 per ETH, incurring a loss of approximately $932,000 [4] - The trading is conducted on decentralized exchanges, which are designed to be censorship-resistant, allowing the hacker to operate without sanctions [6] Decentralized Trading Protocols - CoW Protocol, also known as CoW Swap, facilitates trading by allowing users to delegate trade execution to competitive algorithms that optimize exchange rates [7] - The inability to prevent the alleged hacker from trading is linked to the decentralized nature of the systems, which do not impose sanctions unless funds are moved to centralized platforms [8]

API Functionality - CoinGecko's on-chain API enables fetching real-time and historical crypto prices from over 1,600 decentralized exchanges (DEXs) [1] Industry Focus - The tutorial focuses on pulling accurate coin prices directly from decentralized exchanges (DEXs) [1]

Trading Volume - Hyperliquid 24 小时现货交易量创新高，达到 34 亿美元 [1] - Hyperliquid 的 BTC 现货交易量达到 15 亿美元，成为第二大 BTC 现货交易场所（包括中心化和去中心化交易所） [1] Platform Growth - Hyperliquid 的交易量增长主要由 BTC 和 ETH 的存款和现货交易量增长驱动 [1] - Hyperliquid 的交易量增长得益于 @hyperunit 的推动 [1]

Exchange Landscape - Centralized exchanges facilitate mass adoption [1] - Decentralized exchanges prioritize user sovereignty [1] Investment Considerations - The industry advises a careful choice between centralized and decentralized exchanges based on user needs [1]