• The sender paid an unusually high fee for the transaction.
  • The transaction may be related to the upcoming Bakkt launch.

On Friday night, September 6 an unusually large transaction was recorded on the Bitcoin network in the amount of 94,504 BTC (worth over $1 billion at the current exchange rate). The sender paid an unusually high fee in the amount of $700. 

A Twitter account Whale Alert reports that the transaction was performed from unknown wallets that did not belong to any exchange. One of them transferred 56% of the amount, the remaining funds came from three other addresses. An hour later, the same sender translated 124,178 BCH and 124,178 BSV.

The transaction might have been related to the upcoming start of accepting deposits on the platform for institutional investors Bakkt. Earlier, the company announced that it may start accepting deposits today.

Max Kaiser, head of the Heisenberg Capital venture capital fund, agrees with the opinion that institutional investors may be involved in such a large transaction. According to Kaiser, they are getting ready for the actions on the market.

Whoever was the sender of a massive transaction, they paid an extremely high commission - about $700. Moreover, currently, only 21 satoshis per byte are enough to include a transaction in the next block.

An unknown sender overpaid about 20 times, as the transaction might have cost them $ 35.

At the time of writing, BTC/USD is changing hands at $10,750.


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