A Bitcoin Whale Just Paid $0.48 In Fees To Move $932 Million In Bitcoin
Quick Take
- A Bitcoin whale just moved over 101,857 (~$932 million) Bitcoin for just $0.48 in fees.
- The wallet now holds just 0.001825 Bitcoin (~$17).
A Bitcoin whale has nearly emptied one of the richest Bitcoin addresses in a single transaction totaling over 101,857 Bitcoin, worth over $932 million at the time of press.
The Bitcoin address saw its first inflow on April 1st and its first and only outflow on June 26. More importantly, the transaction only cost the sender 0.00005271 Bitcoin (~$0.48) in network fees.
Bitcoin Fees Normalize As Miners Return
Following the Bitcoin halving event, Bitcoin fees surged, surpassing $5 per transaction shortly after. Simultaneously, Bitcoin miners left the network in droves, resulting in a massive hash rate drop.
However, as reported by The Crypto Associate, miners have rejoined the Bitcoin network propelling network hash rate to near pre-halving levels. Simultaneously, Bitcoin fees have been on the decline and are currently under $1 for the next block confirmation.
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