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Bitcoin Whale Moves $95,000,000 In BTC Paying Less than $1 Fee

News
Tue, 07/07/2020 - 11:41
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Yuri Molchan
A major anonymous Bitcoin holder has transferred a staggering $95 mln in the form of BTC and paid less than one dollar for it
Bitcoin Whale Moves $95,000,000 In BTC Paying Less than $1 Fee
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A while ago, an anonymous Bitcoin holder sent part of their riches from one unknown wallet to another. The transaction carried a jaw-dropping $95,000,000 in Bitcoin (10,250 BTC).

The transfer fee the individual paid to send this money totalled slightly over $0.5 – this is one of the reasons crypto enthusiasts love Bitcoin and consider it superior to banks.

BTC
Image via Blockchain.com

Bitcoin whales raise their heads again

Holders with such massive amounts of crypto in their possession are usually referred to as crypto whales and they are often accused of Bitcoin price manipulation, since they can sell gigantic amounts of BTC, thus making the price fall.

As reported by U.Today a week ago, two mammoth-sized Bitcoin transfers also took place then. One carried 101,857 BTC ($900 mln at the BTC/USD rate on that day) and one made later which pushed 21,800 BTC ($200 mln at the BTC/USD rate on that day) from one wallet to another.

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These gargantuan amounts of BTC could be moved to or between exchanges, custodial services or it could be just crypto whales transferring crypto between their wallets.

Number of BTC transactions skyrockets 26.7%

Analytics research firm Glassnode has shared data saying that over the past twenty-four hours, the overall number of Bitcoin transactions (1MA) has soared by 26.7 percent.

BTC
Image via @glassnodealerts
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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.