Binance Giant Moved $550 Million In Minutes, BTC Fees Decrease

Binance giant, the mega crypto exchange generated a huge transaction while moving funds and Bitcoin’s benefits over fiat increased as well after the platform’s action. The latest cryptocurrency news today will give you some more information about the recent happenings.

The data from Whale Alerts keep an eye on transactions on cryptocurrency blockchains and was worried about the comments that showcase a series of transactions with a worth over $500 million. The staff clarified:

 “This was an internal Binance transfer. No need to panic.’’

The attention later turned to a whole another aspect of the transactions since the social media users followed the progress through the bitcoin blockchain. For funds that reach $550 million, Binance managed to pay only $5 in fees. When the executives moved the funds, the fee was even less to about $3.70. Both of the transactions took only a few minutes. The fees remained low over the past six months and the cryptocurrency beat the other funds’ transfers on both expense and time.

As reported previously, the end of the Bitcoin bear market from 2018 failed to increase the fees for sending it. Also, in the same time, the network activity increased massively since the price bottom in November which shows a new daily volume record from last week.

In 2018, Bitcoin moved about $3.2 trillion worth of value via layer one transaction only. The statistics also show that the Bitcoin supports who watched the proponents of rival cryptocurrency claimed that the network was extremely slow and expensive. The Bitcoin Cash sponsor Roger Ver stated in an interview with the some of the best cryptocurrency news sites, noted why he thinks Bitcoin will fail as a value transfer proposition. He claims that the users can move huge amounts for small fees because the developers want them to match Bitcoin’s value. He said:

 “By intentional design of the ‘Core Developers’, they want Bitcoin to have high fees and full blocks.’’

Also, The crypto exchange Binance giant confirmed that they will be launching a margin trading service after they posted screenshots of the platform in dark and light modes asking users which one they prefer.