- Weiss Ratings points out to a small transaction fee. Ripple fans say XRP can offer better terms.
Binance, the world’s leading cryptocurrency exchange by trading volumes, moved Bitcoins worth of $1.26 billion and paid as little as $124.6 for the transaction, according to the rating agency Weiss Ratings.
“Binance just moved a mind-blowing $1.26 billion worth of #Bitcoin – and it paid just $124.60 in network fees for the service. Tell us again why we need banks and huge fees,” Weiss team wrote in its Twitter account.
Sure enough, this small amount for a large transaction compares favorably with large bank’s fees; however, Ripple supporters noted that XRP-based payment solutions allow transferring XRP coins worth of $200 billion for just $9 in a matter of seconds.Meanwhile, in January, Weiss Ratings analysts said that Ripple’s XRP has a potential to surpass Bitcoin by market value in observable future as Ripple as a payment network has more value to the society.
Apart from that, Juan Villaverde recently said that Bitcoin correction was the best time for buying Bitcoins. He also mentioned that low fees were among the fundamental factors that would drive Bitcoin higher.
Meanwhile, in the middle of May Bitcoin transaction fees hit the highest level in recent 14 hours. At the time of writing, it costs $4.00 to add a transaction to the next block.
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