Transactions fees are an important part of cryptocurrency. But the beaking news today we are going to share will shock you.
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Fees of 656 ETH paid for Single Transaction
Yes, you read that true. In a single transaction, a fee of 656 ETH was paid by someone. That sounds shocking, we all don’t own this much amount of ETH and here a fee was paid of 656 ETH.
The incident happened on 13th March 2020 at 08:34:52. The transaction was between the address 0x167A9333BF582556f35Bd4d16A7E80E191aa6476 and 0x8454190C164e52664Af2c9C24ab58c4e14D6bbE4
You can check the transaction here
Possible reasons
After this strange incident, all started giving explanation about the reason for the incident.
Many are claiming that it was the result of an error with an ETH-related client. Some fingers have been pointed at CoinOne since the transaction was possibly linked to it.
However, some are provocatively claiming that maybe it wasn’t an accident after all. Ethereum plummeted yesterday and shed some 50% of its value in just 24-hours.
Given these circumstances, we don’t know the stakes that were at play when this decision was made, as one user explains. But it is still a mystery.
Ethereum Price Dipped
Recently, Bitcoin and all the altcoins dipped due to the coronavirus. The price of Ethereum dipped from almost $250 to around $120. It is still hovering around $120-$130.
In the upcoming 2-3 months, it is expected that it did not move further down. It can reach around $180-$190 after 2 months. This is the right time to invest in Ethereum and other altcoins.
But as we know that it is nearly impossible to predict what will happen to crypto due to Whales and News that affect cryptos.
So what do you think? What is the possible reason for the fees of 656 ETH? Is it an error or something else?
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