Crypto exchange Bitfinex rolls out social network for its users

Cryptocurrency exchange Bitfinex has launched a social networking platform called "Pulse" for its users.

Pulse allows Bitfinex's "verified customers" to share information and interact with each other, according to a statement shared with The Block on Monday.

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"The concept of a social network for traders is not new, of course. What distinguishes Bitfinex Pulse is the quality of the content available," Bitfinex CTO Paolo Ardoino told The Block, adding that Pulse will have an emphasis on "niche, real-time and high-quality information sources tailored towards our active community of traders."

It remains unclear how many verified customers Bitfinex has. Ardoino told The Block: "We have seen a large increase year-to-date (YTD) in active user engagement, reaching over 20%, along with a growth in new user acquisition and trade volumes. On average, our users' YTD time spent on the platform is up 21.55%." 

Bitfinex is the most liquid spot exchange based on order book depth, according to research conducted by The Block earlier this month.