Research: Bitfinex’s operating income in Q1 in 2020 is USD 21.43 million

According to The Block research, Bitfinex’s operating income in the first quarter of 2020 was US $ 21.43 million, a year-on-year increase of 96% from the fourth quarter of last year (US $ 10.91 million) and a slight decrease from the third quarter of last year (US $ 26.15 million) . Bitfinex’s trading volume and revenue show a similar pattern, which is the expected result, because most of Bitfinex’s revenue comes from transaction fees. Bitfinex’s revenue has decreased significantly compared to previous years, or it may be due to the decline in Bitfinex’s market share. Since January 2019, Bitfinex’s share of legal total transaction volume has fallen from 13.7% to about 5% in April. Since the LEO destruction began in June 2019, a total of approximately 17.34 million LEOs (approximately US $ 18.5 million) have been destroyed on the chain.