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28 November 2021
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Binance Moves 36,306 BTC Worth Staggering $2,214,339,246, Pays Just $3.47 in Transaction Fees

Global crypto exchange Binance just shuffled a 10-figure sum of Bitcoin between wallets as BTC clings to the $60,000 level.

Crypto data tracker BitInfoCharts spotted a massive transaction to the tune of 36,306  BTC – worth over $2.21 billion at the time of writing.

The transaction was first broadcast to the Bitcoin network on October 23rd at 4:41 AM GMT+8. The crypto was sent in a batch that includes a request to send 35,236 BTC ($2.15 billion) and 1,069 BTC ($65 million) along with two other transactions involving less than one BTC.

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Source: Blockhain.com

One wallet received 20,000 BTC, worth more than $1.2 billion, less than nine minutes later at 4:49 AM GMT+8. Around the same time, another wallet collected 16,306 BTC ($993.39 million).

The Binance wallet that sent the 35,236 BTC was the 24th richest Bitcoin wallet in existence prior to the transaction.

All in all, Binance paid just 0.00005694 BTC in fees, worth $3.47.

Crypto exchanges occasionally move large batches of digital assets around for security purposes.

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All of the sending and receiving wallets were identified by BitInfoCharts as the exchange’s cold wallets. Cold wallets are physical hardware wallets that can keep digital assets completely offline. They are generally considered more secure than hot wallets, which are software-based and connected to the internet.

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