Crypto exchange Bitrex has just made two huge Bitcoin (BTC) transactions – moving coins from the main trading platform to another wallet, before sending them back to the original wallet. And what is surprising is the extremely low fees.
Earlier this day, the exchange transferred 48,952 BTC – worth $ 491 million at the time, as noted by the blockchain, and was also shared by Twitter account that tracks major cryptocurrency transactions Whale Alert. .
. 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 48,952 #BTC (490,595,680 USD) transferred from unknown wallet to unknown wallet
– Whale Alert (@whale_alert) February 16, 2020
Although the two transactions contain huge amounts of Bitcoin, the transaction fee is surprising. The Liechtenstein-based exchange only had to pay $ 0.67 for the first trade and $ 0.84 for the second transfer, for a total of two transactions costing only $ 1.51.
The move is most likely a reconfiguration of Bittrex's cold wallet, where the exchange stores most of its Bitcoin offline.
This is not the first time Bittrex has made such large transactions. In December last year, $ 9 billion of Bitcoin was moved in an hour, most of which was made by Bitrrex.
In addition, in September, a large amount of Bitcoin was transferred to a wallet address. A collection of large-scale Bitcoin holders – called whales – has transferred 94,504 BTC (worth over $ 1 billion), to an unknown wallet. This amount of BTC is equivalent to 0.5% of the total circulating supply of the king coin. The move occurred on the same day that futures trading platform Bakkt launched a depository service, but they did not comment on the deal.
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