Bitstamp Volume Surges As It Abandons Inactivity Fees

• Bitstamp canceled an inactivity fee of €10.
• The exchange trading volume dropped below $55 million.

Today, Europa’s biggest cryptocurrency exchange by trading volume Bitstamp dropped the proposal to impose an inactivity fee of €10 ($10.20) following the feedback received from the platform users.

On Friday, the exchange found a new source for revenue that they plan to impose an inactivity fee of €10 ($10.20) per month for accounts with a total balance of less than €200 that hasn’t been traded, deposited, or withdrawn or staked assets for a year. 

In response to user concerns, the cryptocurrency exchange Bitstamp scrapped its proposal to charge non-US users an inactivity fee of €10 ($10.20). And the chief executive officer of Bitstamp JB Graftieaux said;

Thank you for your precious feedback, you have been heard and we are not implementing the monthly inactivity fee. The voice of the customers is FIRST.

Bitstamp Tumbles

According to Coingecko data, after the announcement of the inactivity fee the exchange’s trading volume dropped below $55 million and lost 66% of its volume. Following the fee cancelation, Bitstamp’s trading volume has recovered to $172 million in the past 24 hours at the time of writing.

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