A Bitcoin Whale Moved $95 Million For Under $0.75 In Fees
Quick Take
- A Bitcoin whaled moved 10,250 Bitcoin, worth $95 million, in a single transaction for just 0.00007902 BTC (~$0.74).
- Bitcoin held on exchanges continues to fall.
A massive Bitcoin transaction yesterday triggered cryptocurrency alerts platform Bitcoin Block Bot, as a Bitcoin whale moved 10,250 Bitcoin, worth approximately $95 million at the time of press.
More importantly, the transaction only the sender cost 0.00007902 BTC in fees, approximately $0.73 in USD at the time of press. A $0.73 fee to move $95 million gives the traditional banking system a run for their money, as they often charge far more to transfer funds.
Bitcoin Exchange Balance Continues To Decline
According to data by Glassnode, while the number of Bitcoin whales has seen growth in recent months, the Bitcoin held on exchanges continues to fall. The analytics firm also noted, “Much of this growth has coincided with a withdrawal of BTC from exchanges, suggesting that whales may be the reason for this exodus.”
The declining balance was reported previously by The Crypto Associate as the number of Bitcoin held on exchanges reached a one-year low.
Cover Image by: Derek Oyen via Unsplash
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