A record transaction of more than $ 1 billion was made on the Bitcoin network

on March 16, an unknown crypto wallet transferred bitcoins totaling more than $ 1 billion to another crypto wallet. This was the largest BTC transaction of the year. According to Santiment, the cryptocurrency was sent to the address 3M219KR5vEneNb47ewrPfWyb5jQ2DjxRP6. The commission for the record transaction amounted to only $ 81.6.

Analysts noted: «In October 2022, the anonymous address reached its maximum of 143,310 BTC, in November it was emptied, and now the cryptocurrency account has 40,141 BTC.»

? A $ 1B #Bitcoin transaction has been sent to 3M219KR5vEneNb47ewrPfWyb5jQ2DjxRP6. This is the largest $BTC on-chain transaction of the year. The address held a high of 143,310 $BTC in October, was emptied out in November, and is now back to 40,141 $BTC. https://t.co/l9K3Qu8J2M pic.twitter.com/1yVJpKqjPK

— Santiment (@santimentfeed) March 16, 2023

It should be noted that such large transactions have already been carried out in recent years. However, the last transfer of $ 1 billion in bitcoin took place on April 10, 2020. At that time, 161,500 BTC worth $ 1.1 billion were withdrawn from a cryptocurrency wallet.

At the time of writing, the flagship cryptocurrency is worth $ 26,698, which is 7.33% higher than the previous day. The market capitalization is $ 515.8 billion, and daily trading volumes exceeded $ 13.3 billion.

Since the beginning of 2023, the dynamics of BTC’s market value has been growing. Already in January, bitcoin exceeded the selling price of $ 19,700 and continued to rise. After a relatively stable February, a new bullish momentum took place this month. Currently, the BTC rate has reached a six-month high — since the new year, analysts have recorded a 57% increase in the bitcoin rate.