Investor pays an unbelievably low fee to transfer $329 million in Bitcoin

May 30, 2022 - Around 2 mins mins to read

Over $329 million in Bitcoin was transferred last Sunday (May 29). The transaction was reported by Whale Alert and the cryptocurrency was sent between unknown wallets.

An investor pays $0.12 to transfer $329 million in Bitcoin — Transactions with huge amounts of money recorded on May 29

According to the Whale Alert crypto market transaction monitoring record, 11,258 Bitcoin was transferred between wallets. Thus, considering the price of the crypto asset on the day, the total value of the operation comes in at $329,220,439 million.

???? ???? ???? ???? ???? ???? ???? ???? ???? ???? 11,258 #BTC (329,220,439 USD) transferred from unknown wallet to unknown wallethttps://t.co/am0viK88lj
— Whale Alert (@whale_alert) May 29, 2022

While the fate of the cryptocurrency remains unknown, what is striking is the amount paid for the Bitcoin transaction. As the Watcher.Guru profile on Twitter says, users only pay $0.12 to transfer Bitcoins.

That is, at the current exchange rate of the dollar, over $329 million in cryptocurrencies were transferred at a cost of $0.12. Only 0.000000003644% of total transactions. This can be said to be a transaction fee that cannot be found in the traditional financial market.

Someone transferred $329,220,000 in #Bitcoin and paid a fee of $0.12

That’s a transaction fee of 0.0000000003644%

No government bank or third party had to verify the transaction, nor could they have STOPPED IT, if they wanted to.
— Watcher.Guru (@WatcherGuru) May 29, 2022

The transaction of more than 11,000 Bitcoins on May 29 took place after the devaluation of Bitcoin. Through the BTC/USDT pair, the cryptocurrency attempts to recover the $30,000 resistance level. Currently, the BTC price is trading above this level, up 4.53% from the previous session, according to CoinCu data.

Over the past 30 days, the Bitcoin price has dropped from $39,700 to $27,000. The cryptocurrency’s downtrend was reinforced by the appreciation of the USD during the same period. Currently, the May candle is about to close with a strong position in favor of the bears.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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