Ethereum

2024

Value

Coin

<ul class="news-points">
 <li><strong>Crypto whale pays $150,000 in fees for a tiny Ethereum transaction.</strong></li>
 <li><strong>MEV Bots to blame for Ethereum’s soaring gas fees.</strong></li>
 <li><strong>Ethereum users demand solutions as network congestion cripples transactions.</strong></li>
</ul>
<p>Whale Alert spotted a bizarre transaction costing 40 ETH ($150,470) in gas fees, on May 31, 2024.</p>
<p>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.</p>
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4b8.png" alt="💸" class="wp-smiley" style="height: 1em; max-height: 1em;"> A fee of 40 <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#ETH</a> (150,470 USD) has just been paid for a single transaction!<a href="https://t.co/5TXNvET9ja" target="_blank" rel="noopener noreferrer nofollow">https://t.co/5TXNvET9ja</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1796428627027837176?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 31, 2024</a>
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<p>It is worth noting that automated applications running on cryptocurrency networks like Ethereum are what’s known as Miner Extractable Value bots or MEV bots in short. Within a block, they reorganize, censor, or include particular transactions to seize economic chances. This brings to light the exorbitant gas fees connected to the Ethereum network. Reports and comments on the skyrocketing Ethereum gas fees have been a dime a dozen on social media platforms since 2023…</p>
<p>The post <a href="https://coinedition.com/high-fees-on-ethereum-network-spark-debate-over-scalability/" rel="noopener noreferrer nofollow">High Fees on Ethereum Network Spark Debate Over Scalability</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

High Fees on Ethereum Network Spark Debate Over Scalability

Coin Edition

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