A shocking fees of 656 ETH paid for Single Transaction

Transactions fees are an important part of cryptocurrency. But the beaking news today we are going to share will shock you.

Fees of 656 ETH paid for Single Transaction

Fees of 656 ETH paid for Single Transaction
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

Ethereum Price Dipped
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?

About the author


I am Vijay Dangi, a Cryptocurrency, and Blockchain enthusiastic from India. I became interested in Cryptocurrency and Blockchain Technology in 2017 when I came across the powerful security of blockchain while browsing Youtube. I was very inspired and keen to invest in Bitcoin at the same time. But rules and regulations in India didn't allow me to do that. So I started a blog to follow my passion for Cryptocurrency and Blockchain Technology.

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