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Bitcoin address becomes richest non-exchange wallet after 1 billion-dollar Bitcoin transaction

Trump 16

A mysterious cryptocurrency address receives over ninety-four thousand (94,504) Bitcoins (BTC) to become the first richest non-exchange. The Bitcoin sum is worth more than one billion dollars ($1.031B). According to sources, this address has become the wealthiest Bitcoin address that has not linked itself with any cryptocurrency exchange or business.

Another unnatural thing is the ridiculously high transaction fee that the user paid for this trade. The user paid around seven hundred dollars for this transaction. The normal transaction fee for such a trade should have been thirty-five dollars with the trade being settled in ten minutes.

According to various analysts, a majority of these Bitcoin came from the Huobi exchange. One London-based analyst claimed that at least thirty percent of the users were from the Huobi exchange.

Meanwhile, another analyst claims that more than seventy thousand BTC came from the address. Twitter user Crypto Herpes Cat stated that two of the involved Bitcoin wallets were based on the Huobi exchange.

The transaction was tracked by Twitter user Whale Alert. However, Whale Alert reported that the transaction did not involve any exchange wallet. Furthermore, it claimed that these addresses did not involve any cryptocurrency business either.

Whale Alert is a platform that tracks large-scale transactions across various blockchains and posts about them on Twitter.

Huobi is one of the largest cryptocurrency exchanges by daily trade volume. Moreover, the exchange was reported to see the largest number of withdrawals from the cryptocurrency PlusToken.

Another rumor that spread about the transaction was the involvement of Bakkt. Bakkt is a bitcoin futures exchange that was founded in 2018 by the Intercontinental Exchange. The exchange was going to start accepting client deposits today.

Ahmad Asghar

Ahmad Asghar

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.

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