The Largest Cryptocurrency Transaction in the Crypto-Transaction History Just Took Place as Someone Moved Bitcoin (BTC) Worth More Than $1 Billion
Whether it is volatility, capitalization, price, or worldwide recognition, Bitcoin (BTC) is by far the most popular cryptocurrency. Ever since its launch as the first-ever cryptocurrency, Bitcoin (BTC) has managed to remain the top cryptocurrency. Not only this, but Bitcoin (BTC) has remained the most controversial as well as surprising cryptocurrency in the crypto-world.
Just recently, it has again shocked the entire cryptocurrency community with a huge transaction. According to Whale Alert, which is an on-chain analyzing firm for crypto-data has observed an unusual transaction.
As per Whale Alert, it has picked up a Bitcoin (BTC) transaction that was worth more than $1 billion. The firm confirmed that the transaction carried out was around 88,857 Bitcoin (BTC) into fiat money. The firm stated that it was an anonymous person who has made the transaction breaking all previous highest crypto-transaction amount records.
The firm confirmed that around 88,857 Bitcoin (BTC) transferred makeup to be more than $1.5 billion. Another very shocking detail about this huge transaction was that transaction fees charged for the transfer were recorded to be $3.58.
The on-chain firm also confirmed that the transaction had originated from one of the most popular crypto-wallets’ account, Xapo. As per the data, the largest Bitcoin (BTC) to fiat transaction took place in two rounds.
Xapo Wallet is very popular among the Bitcoin (BTC) community for its high-end security features. This is the reason that many Bitcoin (BTC) holders prefer keeping their BTC assets in the Xapo wallet accounts over any other.
Following Xapo Wallet’s popularity among the Bitcoin (BTC) community, it is usual for Bitcoin (BTC) transactions to be transacted through this platform. On top of that, Xapo is also known for observing large Bitcoin (BTC) transactions on a daily basis.
However, this huge transaction turned out to be an unusual transaction even for the Xapo management.
This huge transfer has caused frenzy all across the crypto-community. Many analysts have speculated that the Bitcoin (BTC) might have been moved to a cold wallet for safekeeping purposes. While there are some commentators who stated that the person might use those funds to buy Ripple (XRP) or Ethereum (ETH) tokens.