- A Bitcoin whale has moved 39,635 Bitcoin (~$369 million) for less than a dollar in network fees.
- Bitcoin fees have recovered significantly following a surge after the halving event.
A Bitcoin whale has moved 39,635 Bitcoin, worth nearly $370 million, triggering crypto whale alerts.
What’s more, is that the sender paid a measly 0.00010080 BTC (~$0.94) in network fees. In other words, the sender was able to move over $369 million for less than a dollar, giving the traditional banking system a run for their money. This is not the only example of cryptocurrencies’ value proposition. Earlier The Crypto Associate reported on a massive $143 million Bitcoin transfer.
Bitcoin Fees Nosedive As Miners Return
Following the Bitcoin halving event, Bitcoin fees surged, surpassing $5 per transaction shortly after. Furthermore, the halving triggered a massive hash rate drop as miners left the network to mine more profitable cryptocurrencies.
However, as reported by The Crypto Associate miners have rejoined the Bitcoin network propelling network hash rate to pre-halving levels. Simultaneously, Bitcoin fees have been on the decline and are currently just under $1 for the next block confirmation.
Disclaimer: Content displayed on thecryptoassociate.com is not investment advice. Investors should do their own research before investing in digital assets or anything displayed on this site. The Crypto Associate does not recommend trading any sort of investment in cryptocurrencies and digital assets. The Crypto Associate is not responsible for any losses incurred due to the buying or selling of cryptocurrencies displayed on this site. All content is for informational purposes only. The Crypto Associate does not endorse, affiliate or represent any third-party links including advertisements. The Crypto Associate participates in affiliate marketing. Read the full disclaimer