$431 Millions Sent With $3 Fee Using Bitcoin, Banks are Too Expensive

Ivan Liljeqvist of Ivan on Tech captured the major transmissions, which moved 46,835 BTC worth $431 million at the time introducing. The charge for shifting the conglomeration of BTC was less than $3.00.

The acceptance wallet, which was generated in September of 2019, has a long-standing experience of dispatching and getting big volumes of crypto. The movement indicates it may be oriented by an exchange or a  caretaker keeping a big quantity of BTC on behalf of its customers.

Besides this major transmission, Bitcoin Wale has been keeping silent since the halving, as BTC hovers in the $9,000 range.

Glassnode, a new analytics company updated the information that 7 days running approx of the number of the wales controlling 10,000 or more BTC is at its topmost record since August of 2019.

At the same time, the number of wales retaining 1,000 or more BTC has been on the regular on the upgrade and is now up 24% since October of 2018. Glassnode says the transfer indicates that the total performance of utmost net asset Bitcoin investors as a group is long BTC.

“The number of whales (i.e. entities with at least 1000 BTC) increased leading up to [the March 12th] market crash and accelerated during and after the crash. This suggests that larger market players are accumulating BTC, providing an optimistic sign.

This trend implies that despite an uncertain market environment, whales remain confident that now is a good time to be accumulating BTC, suggesting that they believe there is further room for growth.”

Also Read: Chinese Yuan Is Falling Again, Key Bullish Sign For Bitcoin Bull Run