A Bitcoin Whale Moves a Significant Amount of BTC at Cheaper Fees

News / 27.02.2020

Recently, a whale moved a significant amount of Bitcoin on the Bitcoin Network. These bitcoins withdrawn from Bittrex amounted to 47 452 BTC, equivalent to 414 million, and the transfer fee was only $0.68. 

The Whale Alert recorded the movement of this massive amount of Bitcoin earlier today. The address that received the Bitcoins quickly moved the funds to another address. 

BTC Transaction Fees are Decreasing Over the Years

It looks like Segwit is trying to bring down fees since currently, a minimum of 50% of all transactions are carried out through Segwit’s help, thereby declining remarkably. Bitcoin fee is now about $0.50, while in December 2017, Bitcoin’s average fee was $20.

Some Bitcoin critics are not happy about the cheapness of Bitcoin’s fees. One of the critics by the name Roger Ver said that Bitcoin is unfairly cheap, which will disincentivize the mining network. He, however, previously said it was too expensive; it looks like Naysayers are never satisfied.

Dacosta Osei-Tutu, a first degree holder in Nursing, who couples his Nursing career with blockchain blogging, has a great passion for the blockchain technology and aims to play a vital role in applying this revolutionary technology to disrupt the healthcare system in Africa.