Exorbitant Gas Fees in Memecoin Transaction Raise Concerns and Fuel Debate Over Ethereum's Viability

Exorbitant Gas Fees in Memecoin Transaction Raise Concerns and Fuel Debate Over Ethereum's Viability



One memecoin trade cost a consumer an additional 76% of their total purchase price in gas.



A single trader just spent a staggering 64 Ether — equivalent to $118,000 — in gas fees purchasing $155,000 worth of a memecoin called Four (FOUR).



A Uniswap trade that exchanged 84 Wrapped Ether (WETH) for 13.8 billion FOUR tokens required the lone trader to pay an astounding $119,157 in Ether, according to an update from the well-known blockchain tracking site Whale Alert.



It seems that the trader consciously increased their gas fee to shorten the time needed to complete the transaction to buy the memecoin. According to pseudonymous Twitter user FlurETH, the trader in question is sitting on 133 ETH ($245,667) in unrealized profit on their investment in the memecoin.



The Ethereum network's gas costs have come under discussion in


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#Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethereum, #Memecoin

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