Litecoin have reported that their network has processed one of the largest transactions to this day for a laughable amount.
An unknown litecoin owner has transferred a mind-boggling $62 million worth of crypto from a multi-signature address, which suggests the movement of funds for the improvement of security. The transaction cost the unknown person half a dollar.
WHY IS IT IMPORTANT?
- Considering that moving such a ‘heavy’ sum of money with the use of a traditional bank would cost the mover a nonsensical amount of money, the same can be said about crypto but in a good way. A fee of $0.5 to move $62 million really shows the magic of crypto.
- This is not a litecoin privilege only. Both the top cryptocurrencies have also recorder movement of major sums of money for a comical fee of under a dollar.
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