A transaction worth $ 32,000 was accidentally made on the Ethereum blockchain network

According to Etherscan, the cryptocurrency owner made the transaction on the Ethereum network, paying a huge commission of 20 ETH (about $ 32,000). The cost of the transfer was one of the highest since the bull market of 2021.

The user paid a commission of 20 ETH for the transfer of 33.5 ETH, although the average transaction fee in Ethereum is much lower — 0.0034 ETH ($ 5.58).

According to crypto analysts, while the reason for the large gas fee remains a mystery, it is a reminder of the current scalability issues facing Ethereum. Nevertheless, ETH continues to be one of the leading cryptocurrencies in terms of market capitalization and real-world use cases, outperforming its competitors such as Solana or Cardano.

The situation with the transfer of ETH is not the only case when the fee is too high. For example, in October 2022, a user paid a thousand times more than necessary to transfer 3.8 BTC. The cryptocurrency owner was supposed to pay only 20 cents to transfer $ 63,000 in bitcoin, but it cost him $ 220.

A similar incident, albeit with higher costs, occurred on October 19 on Ethereum. An Ethereum owner paid 125.1 ETH in fees to transfer 57.9 ETH, which meant that the investor spent 183 ETH (about $ 236,537 at the time of the transfer).