Brothers, don't just focus on the candlestick recently, the cryptocurrency market is experiencing a huge boost. The exchange @ bitfinex, which is at the level of an "ancient god", has recently made a big move: to permanently cancel all transaction fees for pending orders (Maker) and taking orders (Taker). Note that I am talking about long-term, and it is completely free. No matter if you play spot, contract, leverage, or OTC, there are no transaction fees. No threshold, no hidden tricks, ordinary users can also enjoy it. Why is it said to be a huge positive? I remember the last time in July 2022, Binance waived the handling fee for spot trading for more than half a year, which brought huge trading volume to the market. The price of BTC around 20000 was also the lowest range in the previous round. At present, the market lacks liquidity, and waiving transaction fees is undoubtedly a deep repair for the market, which is a major positive news. This is not a promotion on Singles' Day, it is simply resetting transaction costs to zero. This is definitely a thunderbolt in the cryptocurrency industry. one ️⃣ Who is Bitfinex first? (Moe Xin may not be familiar, even old leeks know) The current newbies may only know about Binance OKX， But Bitfinex is a veteran that emerged in 2012. It has experienced epic disasters such as the collapse of Mentougou, the bull market in 2013, the crazy bull market in 2017, the bear market in 2018, the black swan of the 312 epidemic, and the LUNA collapse, but still lives well. It doesn't engage in fancy "trading mining" or "airdrop recruitment", and its users are mostly institutional investors, professional quantitative teams, and market makers. Simply put, it used to be a playground for aristocrats, disdainful of doing retail business. But now, it has removed the threshold and anyone can come and enjoy the top-notch transaction experience for free. two ️⃣ How enjoyable is' zero transaction fee '? Just calculate the accounts and you'll understand What were we most afraid of when we were trading before? Afraid of wear and tear! For those who engage in short-term trading, as long as the frequency is high, all profits will be paid to the exchange for handling fees, which is like working for the platform. Arbitrage traders, looking at the price difference and calculating the transaction fee, have no profit and can only stare blankly. Currently on Bitfinex: Trial and error cost=0 • Warehouse adjustment cost=0 High frequency strategies are no longer consumed by transaction fees, resulting in marginal revenue Now Bitfinex has directly eliminated these 'friction costs'. If you have a trading volume of 10 million U per year (which is not much in the cryptocurrency industry), according to the external 0.1% rate, you have to pay 10000 U to the exchange. Now, keep this 10000 U directly in your own pocket. Isn't it nice to take it on a trip with your parents? three ️⃣ Why does it dare to play like this? Because my family background is thick Some people may be afraid that this platform is not working, so they dare to play like this. Don't think like that. Dare to be free for life precisely because they have a strong foundation and are not short of this amount of money. Firstly, due to its advanced technology, even in extreme market conditions where other companies are unplugging cables and experiencing downtime, Bitfinex's system remains stable. In addition, by relying on institutional business to make money, they have already earned a lot of money from the largest lending market and institutional business on the entire network. The most important thing is the treatment of the biological son, don't forget, it is part of the same family as USDT (Tether). Everyone understands this liquidity and financial strength. In the current market situation, everyone is at risk. At this moment, I sincerely suggest that other exchanges also learn from it, waive transaction fees, allow arbitrage, band trading, quantification, and more people to enter the market to improve trading depth and liquidity, and make the market active. In fact, everyone is uncomfortable when it is stagnant. At present, @ bitfinex's move belongs to the "dimensionality reduction crackdown", turning transactions into basic services like water and electricity, without charging "tolls". This may be the future trend and normalization. The most important thing is that Bitfinex supports mainland user registration and KYC. Partners can use my link to register (comment section)! If you are in the band and quantization industry, I sincerely recommend that you try opening an account on Bitfinex. As a long-term hoarder, it's a good thing for me to adjust and rebalance my holdings for free. The "zero trading fee" operation of Bitfinex has indeed opened up the market and is expected to bring a wave of upward momentum to the market.