Bitfinex Spruiks Throughput in Bitcoin “Frenzy”
Posted by Colin Lambert. Last updated: February 10, 2021
Digital token trading platform Bitfinex says it successfully managed a high number of trading events per second amid a “frenzy” of speculation on bitcoin earlier this week which saw the cryptocurrency soar to over $48,000 from $37,000.
The firm says it handled approximately 400,000 events, or connections, per second from a customer base between 1pm and 5pm UTC on 8 February. These connections were composed of crypto investors seeking to trade or obtain a price for digital tokens, it adds.
While the demands on trading infrastructure in digital assets remains below peaks in fiat market, the fact that infrastructure can handle spikes in activity, as seen after Tesla CEO Elon Musk’s tweet, indicates advances are being made and that one concern of institutional investors, operational robustness, can be allayed.