A crypto whale Bitfinex moved over $1.1 billion worth leading cryptocurrency on January 14 and paid only $83 fee for the transaction. This has become the network’s second-largest address.
This move was initially spotted on social media, and users have immediately found out that the transaction came from the exchange’s cold storage wallet. Bitfinex moved 123946.6 BTC, which is equal to 0.7% of the circulating supply of the currency.
124,946 bitcoin were just moved in a transaction.
— Rhythm (@Rhythmtrader) January 14, 2020
That's ~$1,100,000,000 transfered for an $80 fee.
No government, bank or third party had to verify the transaction, nor could they have stopped it if they wanted to.
The true power of bitcoin. 🔥
The fee for the transaction was 0.0096 BTC, which is $83. This isn't the first of this kind of transaction. In May 2019, an unknown whale moved about $230 million worth BTC for just $0.57. But this one became the largest crypto transaction ever in USD terms. It is the second-largest Bitcoin address, it only conceded to Huobi’s cold storage wallet with 255500 BTC.