Binance internal transfer sees $1 billion in BTC moved for $5.72 in fees

11 Jul, 2019
Exchange
Binance internal transfer sees $1 billion in BTC moved for $5.72 in fees

Binance are no strangers to moving large sums of cryptocurrencies between cold storage wallets in an attempt to keep customer assets as well as their own safe. 

Following a recent announcement by the Binance CEO Changpeng Zhao, who often tweets about large transactions occurring on Binance to prevent Fear, Uncertainty, and Doubt (FUD), Binance moved a whopping 90,530 Bitcoin in a single transaction

The transaction totalled $1.174 billion being moved across the blockchain for a fee of just $5.72, once again showing the power of remittance in the crypto space.

The transaction caused quite a stir on Twitter as traders began to believe a whale was preparing for alt season, however Binance quickly reminded everyone that the transaction was an internal transaction from Binance. 

Binance is one of a few exchanges that actively communicates on social media platforms when performing large transactions on the blockchain. As CZ would always say, funds are #SAFU

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