43,654 BTC Moved From Bittrex
The gigantic amount of over 43,654 BTC, which currently costs just over $ 310 million, was transferred from one of the largest crypto exchanges, Bittrex, to an unknown wallet, raising questions about a possible situation with a dump or HODLing. A transaction, as seen on Blockchain.info, shows that the transaction was registered on block 606 587 with a minimum commission of 0.00013920 BTC, approximately 1 US dollar was paid.
Despite the fact that the fee paid is negligible compared to the commission in traditional systems, the most significant point here is the movement of value without any control from the government, bank or authority. Bitcoin is gaining an increasing reputation as a safe, anonymous and cheap way to make large transactions across the border. The benefits of Bitcoin transactions, as evidenced by this Bittrex transaction, provide good reasons for using cryptocurrencies.
Since only 591 bytes are required to record a transaction, and about 7 confirmations are required to complete it, the scalability problem in large transactions is minimized.
In November, the whale moved to 44K BTC in a transaction that cost them less than a dollar. In September, HardFork reported a case where a whale approached $ 1 billion. US at BTC for only $ 700 in fees.