Anyone concerned that Gemini seems to have raised their trading fees 4x in the past day on top of about a 2x increase from last year. Seems to add up to about 10x increase in their fees. Here is a thread that was started about the issue.
https://bitcointalk.org/index.php?topic=3248495.msg33826905#msg33826905I am kind of wondering what Gemini's goal is? It would seem that if they wanted to create more liquidity, then they would keep the fees lower, but perhaps they are attempting to become the Cadillac of exchanges, and I wonder if other exchanges will follow to raise their trading fees? or if Gemini will attempt to serve more of a niche clientelle who are willing to pay higher trading fees?
I would pay higher fees than on other exchanges if there is higher return. Whatever that might be... .
High return could be considered to be more security and more volatility, but I don't think that purposefully creating higher volatility by removing liquidity is a way to increase user confidence in a platform.
I have no real idea of their motivation at this point, except that they are attempting to go down the path of prestigious pricing, and that does not seem to be a good move based on their current market position based on current trade volume (but hey what do I know? Administrators/owners there would know their trade numbers better than my looking at what I believe to be their relatively mediocre trade volume).
Maybe it is just because of the low volume... . In that case, they might be followed by the others.
I am not sure about whether you are misreading my post. Gemini has lower trade volume relative to other exchanges; however, their increasing their fees is likely to decrease their trade volume - however, those kinds of measurements would be for them to make about whether their trading volume decreases significantly in order to cause the increase in fees to be imprudent, from a business perspective.
They are an exchange, so I am not sure about why they would take measures that might decrease their trading volume, unless they are gambling on the fact that more and more BIGGER investors are coming into the space (such as institutional investors), and they are trying to cater their platform towards the institutional investors rather than the regular Joe.. but even institutional investors like to see high volume which is likely going to come, in part, from regular Joes.
Regarding overall assessments of low trading volume, currently, I think that those kinds of assertions of low overall trade volume are a mythical, and I believe that we have not left BTC price battling, and this supposed consolidation game (in the below $10k arena) is not over yet... so even if there might be some recent drops in trade volume, I doubt that those recent drops are anything more than temporary - in the current bitcoin (and crypto) price dynamic climate.
There is a bit of a contradiction in the service that Gemini offers, because they are increasing their trading fees, but their fees for getting in and out seem to be lower than the average
(see these Gemini transfer fees)Sometimes I misread, indeed. But isn 't the low (appears zero)transfer fees, confirming the lack of voume motive for increasing trade fees?