Here’s how much Binance paid to move $1.26 billion worth of Bitcoin

Cryptocurrency exchange Binance moved a gut-wrenching $1.26 billion worth of Bitcoin BTC today – and it paid just $124.60 in network fees for the service.

The epic transfer was signaled by Binance CEO Changpang Zhao earlier this morning in a tweet.

Sure enough, Twitter-based transaction monitor @whale_alert soon notified its followers that Binance had successfully sent a combined 145,980 BTC to a new, unknown wallet.

Bitcoin blocks #578327 and #578328 contain the flagged movements, broadcast at around 9:00 UTC, May 29.

Blockchain explorer data shows the first was for 77,410.477 BTC ($667 million), with $19.22 in network fees attached.

Here’s how much Binance paid to move $1.26 billion worth of Bitcoin 1

The second shifted 68,569.60 BTC ($594 million) for a slightly higher fee of $105.38.

Unlike traditional finance, the Bitcoin network allows users to decide the amount they would like to contribute to have their digital cash sent peer-to-peer.

It’s up to the miners themselves to figure out whether processing transactions – large or small – is in their best interest. If including them isn’t profitable (say, because the fees attached are too low), they simply won’t.

Here’s how much Binance paid to move $1.26 billion worth of Bitcoin 2

You can be absolutely sure whoever hit the button to initiate these transactions needed to bring a few pairs of underwear to work today.

Earlier this month, an infamous Bitcoin whale moved his stash of cryptocurrency worth $212 million (as he does every so often). When he did it, he paid just $3.93. Not bad, that’s less than it costs when I’m late for my credit card payment.

Maybe, this Satoshi Nakamoto person has a point.

Published May 29, 2019 — 14:04 UTC

Here’s how much Binance paid to move $1.26 billion worth of Bitcoin 3
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bitcoin
Bitcoin (BTC) $ 43,515.00
ethereum
Ethereum (ETH) $ 3,058.87
cardano
Cardano (ADA) $ 2.20
tether
Tether (USDT) $ 0.997511
binance-coin
Binance Coin (BNB) $ 370.92
xrp
XRP (XRP) $ 0.971806
solana
Solana (SOL) $ 143.69
polkadot
Polkadot (DOT) $ 30.65
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.218578
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 43,515.00
ethereumEthereum (ETH)
$ 3,058.87
tetherTether (USDT)
$ 0.997511
bitcoin-cashBitcoin Cash (BCH)
$ 534.73
litecoinLitecoin (LTC)
$ 157.70
bitcoinBitcoin (BTC)
37.106,33
ethereumEthereum (ETH)
2.608,37
tetherTether (USDT)
0,850603
bitcoin-cashBitcoin Cash (BCH)
455,98
litecoinLitecoin (LTC)
134,47
bitcoinBitcoin (BTC)
31,785.53
ethereumEthereum (ETH)
2,234.35
tetherTether (USDT)
0.728632
bitcoin-cashBitcoin Cash (BCH)
390.59
litecoinLitecoin (LTC)
115.19

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin43,659 0.28 % 3.70 % 9.40 %
Ethereum3,065.2 0.58 % 5.71 % 14.76 %
Cardano2.200 0.48 % 4.90 % 11.86 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Binance Coin371.47 0.43 % 3.55 % 13.60 %
XRP0.9768 0.38 % 6.21 % 12.70 %
Solana144.65 0.53 % 12.33 % 8.80 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
USD Coin1.000 0.20 % 0.10 % 0.00 %
Dogecoin0.2199 0.44 % 5.31 % 11.09 %

bitcoin
Bitcoin (BTC) $ 43,515.00
ethereum
Ethereum (ETH) $ 3,058.87
cardano
Cardano (ADA) $ 2.20
tether
Tether (USDT) $ 0.997511
binance-coin
Binance Coin (BNB) $ 370.92
xrp
XRP (XRP) $ 0.971806
solana
Solana (SOL) $ 143.69
polkadot
Polkadot (DOT) $ 30.65
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.218578