Specific BTC user paid only $7 in fees to move a mountain of $1 billion over the weekend
CryptoNewsTerminal Staff20 May, 2024
Specific BTC user paid only $7 in fees to move a mountain of $1 billion over the weekend
A whale moved $1 billion worth of Bitcoin (BTC) over the weekend, and the transaction fee was a mere 435 satoshis, valued at around $2.50. According to Bitcoin Magazine, the transaction took place on Sunday, and the sender paid a fee of 10,935 satoshis, which was worth about $7 at the time. This is not the first time that a large Bitcoin transaction has been processed with a low fee. In 2018, a user moved $100 million worth of BTC with a fee of just 1 satoshi. These transactions show that the Bitcoin network can be used to send large amounts of money quickly and cheaply. This is one of the many reasons why Bitcoin is becoming increasingly popular as a payment method.
