Bitcoin Whale Pays a $3 Million Fee for a Transaction

Today, we have seen an interesting occurrence in the Bitcoin (BTC) market. A Bitcoin whale paid an exceptionally high fee for a routine transaction.

Blockchain data revealed that, around 13:00 in Turkey time, a ‘Bitcoin mega-investor‘ paid a full 83.65 Bitcoin (equivalent to approximately $3.14 million) fee for a transaction worth 139.42 BTC (approximately $5.2 million).

Actually, we can see that this rate is much higher and represents a value far beyond the usual. Normally, the transaction fee necessary for adding a transaction to the blockchain block is an average of around 141 sat/vB, whereas in this case, the commission rate that the investor paid ascended to 16,917,200 sat/vB.

The address where the related transaction was completed is coded as ‘bc1qn3d7vyks0k3fx38xkxazpep8830ttmydwekrnl‘. Also, as a result of this transaction, a total of 55.76 Bitcoin was transferred to the opposite party.

Moreover, at the same time, with 818087 blocks numbered in a block, a total transaction fee of 86,216 BTC was observed to be paid. It was revealed that nearly all of this total paid fee, 97%, was paid by this aforementioned Bitcoin whale.

Bitcoin transactions for this block were mined by Antpool. This situation is also proof of the importance of Bitcoin transaction prices and, therefore, mining activities.