đŽSomeone Just Lost $120K in a Costly Mistake With ETH Fees
In the latest development, a trader ended up paying 64 ETH for a single transaction on May 8th. According to an update from the blockchain tracker, âWhale Alert,â the user paid around $119,157 just to send 84 WETH.
It is important to note that transaction fees on Ethereum have climbed much higher levels ranging between $50 to $70 in 2021. But the figures have been low since the market crashed in May 2022.
The excitement surrounding PEPE can be attributed to the revival in gas fees.
As such, the average transaction fee surged to $27.62 on May 5, a level that was last seen almost a year ago. Since the memecoinâs launch on April 18th, average gas fees have increased by a whopping 115%.
