High Fees on Ethereum Network Spark Debate Over Scalability

Published 01/06/2024, 07:13
Updated 01/06/2024, 07:45
© Reuters High Fees on Ethereum Network Spark Debate Over Scalability
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Coin Edition -

  • Crypto whale pays $150,000 in fees for a tiny Ethereum transaction.
  • MEV Bots to blame for Ethereum’s soaring gas fees.
  • Ethereum users demand solutions as network congestion cripples transactions.

Whale Alert spotted a bizarre transaction costing 40 ETH ($150,470) in gas fees, on May 31, 2024.

The transaction originated from the wallet of well-known memecoin and NFT enthusiast, jaredfromsubway.eth. The transfer went to the MEV Bot wallet. What makes the fees paid so bizarre is the fact that it was paid to transfer a meager 0.000012 ETH, worth $0.05.

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