Cryptocurrency analysts record one of the most expensive bitcoin transactions in history

The owner of bitcoin BTC $90,364.02 Mezo Wrapped BTC 4.29% Market capitalization $43.09 million VOL. 24 hours $2.28 billion accidentally paid more than $ 105,000 in fees for transferring cryptocurrency worth only $ 10. The transaction was recorded on Monday and became one of the most expensive in the history of the Bitcoin network. According to the blockchain, 0.10 036 BTC was transferred to the Kraken exchange’s deposit wallet, and the processing fee was received by the MARA Pool mining pool. At the time, the average transaction fee was $ 0.91.

Luxor Mining Pool CEO Nick Jensen called this case a «non-standard way of conducting a transaction.» Experts explain that such errors occur when users manually change the commission settings in wallets without using automatic calculators. If the field for the recipient or «change» is filled in incorrectly, extra funds can go to the miner who confirms the transaction.

The incident occurred against the backdrop of active movements in the Bitcoin network. In July, a $ 1 billion transaction was carried out, which led to massive liquidations of positions. In January, a user transferred almost $ 200 million in BTC, paying only $ 1.89 in fees — an example of the maximum efficiency of blockchain technology.

The event coincided with a period of increased volatility in the crypto market. Bitcoin is currently trading at around $ 105,000 after the US Senate published a draft law on the structure of the crypto market. The document provides for the possibility for ETF funds to receive remuneration from staking digital assets.

Despite the fluctuations, ARK Invest CEO Katie Wood confirmed her long-term forecast for the price of bitcoin at $ 1 million. She drew attention to the growth of the stablecoin market, whose total capitalization has exceeded $ 300 billion.