Bitfinex Made A $1.1 Billion Transaction With A $0.68 Fee

Transferring 161,500 in Bitcoin (BTC) on April 10 for a fee of only 0.00010019 BTC made us wonder if the transaction volumes are real. However, in the latest crypto news, we can see that Bitfinex made a $1.1 billion transaction paying only $0.68 as a fee.

According to the blockchain transaction details, the user moved approximately $1.1 billion dollars in the cryptocurrency at the time of press. Of this amount, around 15,000 BTC was sent to a wallet while the remainder (146,500) was returned to the original address.

The fact that Bitfinex made a transaction this big with paying less than a dollar is significant and makes the crypto world take a notice. According to the user KRMA_0 who was first to spot the transaction, it did not take long for someone to take credit for this move. In a response reaching his 15,000+ followers on Sunday, the chief technology officer (CTO) of Bitfinex, Paolo Ardoino, said that the crypto exchange was responsible – attributing this move to the exchange refilling its hot wallet.

Yep, we refilled hot wallet with 15k, rest went back to original address

— Paolo Ardoino (@paoloardoino) April 10, 2020

This is a big step in the Bitcoin and altcoin news, especially because it makes the Bitfinex transaction the largest one in history of Bitcoin in terms of the dollar amounts. The last time we saw something like this, it was over a billion dollars in BTC which was moved on September 6, 2019 when the transaction records show 94,504 BTC or $1,018 billion at the time – which was transferred for a $700 fee.

However, neither was actually the biggest amount of the cryptocurrency to ever be moved. The honor goes to a 500,000 BTC transaction which was made on November 16, 2011 – which was worth $1.32 million at the time. This was an amount that could be liquidated for approximately $3.5 billion today.

Anyways, the cryptocurrency news today show that the market has been bleeding overnight. This morning, we can see Bitcoin (BTC) going under $6,800, followed by Ether (ETH) which is now at $153 and Ripple’s XRP token recording a loss and stabilizing at $0.1837.

The biggest loser in the top 10 is Litecoin (LTC) with a 4.43% decrease and a current price of $40.34. The only gainer in the top 10 for now is Binance Coin (BNB), even though it did not gain much and its gains were less than one percent, making the price hold up at $13.92.