An Anonymous User Transferred $1.1B Worth of BTC For a Fee of $3.54
An anonymous cryptocurrency whale has made history’s largest fiat value transaction in Bitcoin and paid very little in transaction fees. According to the new report of Twitter bot Whale Alert, an unknown cryptocurrency user has transferred an amount of $1.1 Billion worth of Bitcoin (BTC). Reportedly, the transaction fee for this massive transfer did not exceed above $4.
Over $1 Billion Was Sent in Two Transactions
This gargantuan amount has reportedly been transferred in two separate transactions. Both of the transactions were made from a Bitcoin wallet known as Xapo. In the first transaction, the anonymous user sent an amount of 45,671 Bitcoin (BTC) worth approximately $602 million from a Xapo wallet to an unknown wallet address. The second transfer was also made from the Xapo wallet in which the user moved an amount of 43,185 Bitcoin worth around $570 million.
In total, 88,856 BTC were transferred in these transactions by the user. And for this amount which is worth over $1 billion, the user paid a transaction fee of just $3.54.
People in the cryptocurrency community are surprised as this huge transaction was made from Xapo. Usually, we see large transfers made from this wallet. Recently, 4000 BTC and 5000 BTC were moved from Xapo but this transaction is much bigger than those. Even, since the month of February, over 24000 BTC in total have been transferred from this wallet, according to a Twitter user known as rusu. The Twitter user said:
“It’s a Xapo wallet. Every couple of weeks chunks of 4000-5000 BTC are taken out of the pie and sent to other addresses, where they stay for months or are used for flows. The chain has shed more than 24000 BTC since Feb.”
Back in the year 2019, the institutional business of Xapo was acquired by the leading digital currency exchange Coinbase’s custodian arm Coinbase Custody. So, there is likely a chance that this gargantuan amount might have come from this major cryptocurrency exchange.
The previous largest transaction by fiat value was made by the Hong Kong-based cryptocurrency exchange Bitfinex in the month of April. Reportedly, the crypto exchange moved an amount of 161,500 BTC and paid only $0.68 in transaction fees.
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