An unknown user spent 64 ETH (~$120,000) on gas to buy the meme-cryptocurrency Four (FOUR) worth 84 ETH (~$156,000).
💸 A fee of 64 #ETH (119,121 USD) has just been paid for a single transaction!https://t.co/3w4UD0AZbw
— Whale Alert (@whale_alert) May 8, 2023
According to on-chain data, the transaction was made using the Uniswap decentralized exchange. The trader converted 84 wrapped ETH (WETH) into 3.8 billion FOUR.
Twitter user FlurETH reported that the user has already locked in a profit of 133 ETH ($240,000).
fam i’ll explain what happened in your screenshot so nft influencers aren’t made fun of later like bitboy is now
a sniper paid 64 eth in tx fees to speed up his transaction and be the second buy on $four
13.7 billion $four is now worth 281e
281 – (64 +84) = 133 eth profit 💰 pic.twitter.com/9hbp8JTQYd
— Flur (@FlurETH) May 8, 2023
According to DEXTools, the new meme token was launched on the Ethereum network on the morning of May 8th. At the time of writing, the coin has a daily trading volume of $68.3 million and a market cap of $33.6 million.
Probably, the name of the token refers to the “fourth rule” of the head of Binance, Changpeng Zhao – do not pay attention to FUD.
According to Etherscanfees for simply transferring coins on the Ethereum network currently range from $4.77 to $4.88.
Recall that an analyst at Scimitar Capital under the nickname Alex reported that holders of the Pepe (PEPE) meme-token realized $160 million in profit. The main amount is accounted for by users who purchased the asset in the first week after launch.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!