Crypto trading platform Coinbase Pro is pushing its clients to start trading with bigger bags of money. Investors who do trades of $10.000 or less will see a fee increase of 233%. On the other hand the more money is involved in a trade, the lower these fees will become. For example. up from 50 million dollars the maker fees will completely disappear, while the taker fee is only 0.15%.
Coinbase is implementing the new fee structure 'to increase the depth and liquidity of [their] markets'. The update introduces three new tiers below $100.000. Coinbase Pro does this in response to crypto trading client needs.
For the lower tier trades both maker and taker fees are being increased. Maker fees within this low tier will go up from 0.15% to 0.50%, while taker fees double from 0.25% to 0.5%. It's the second time this calendar year that Coinbase is increasing its fees.
In March 2019 the cryptocurrency company increased its fees as well. Since then accounts trading less then $100.000 on Coinbase had to pay a 0.15% maker fee and a 0.25% taker fee. The new fees will go into effect on Monday October 7th 2019.
Traders who are active with $10.000 worth of bitcoin will not see their activity reflected in the bitcoin price. Whales who trade in millions or billions of dollars in bitcoin are far more likely to influence bitcoin pricing.
Early September a whale moved over 1 billion dollars worth of bitcoin. This move caused a 2 percent drop in the price of the popular cryptocurrency. Moves from this size are rare, and will always have some effect. On the other hand there are smaller bitcoin whales moving coins every day.
In the past 24 hours there have been 7 major bitcoin transactions:
Follow Whale_Alert on Twitter if you're interested about these movements. There's still money floating around from the Mt. Gox hack. In September 2018 the value of bitcoin dropped big time when the trustee of the bankrupt exchange sold off big amounts of bitcoin. Bitcoin has been in decline in 2018, while hitting a yearly low just above the 3K mark. Since 2019 the price of bitcoin has slightly increased to well above $12.000, before dropping back to ~$8200.
