- Bitcoin continues to rally, reaching a new all-time high.
- Meanwhile, Bitcoin whales continue to move hundreds of millions in Bitcoin.
With Bitcoin’s price in a frenzy, the popular cryptocurrency has seen a recent influx in transactions. This week, the Bitcoin Block Bot spotted a massive Bitcoin transaction totaling 6,427 Bitcoin, worth just over $200 million at the time of transfer.
More importantly, this massive transaction only 0.00006520 BTC (~$2.14) in network fees. Considering the total value transacted, a $2 fee is more than reasonable. These fees are paid to Bitcoin miners who process and validate transactions on the Bitcoin blockchain.
Bitcoin Futures Sees ATH Open Interest
As Bitcoin moves higher, futures open interest sets an all-time high, according to crypto analytics platform Skew.
Open interest may be used to quantify overall interest in a particular asset. The recent surge in Bitcoin futures open interest is hardly surprising given Bitcoin’s rapidly increasing price which draws in additional interest from both institutions and retail investors.
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