The 20 ETH gas fee paid by the anonymous user is currently estimated to be around $33,000. This amount is considered one of the largest gas djs registered on the Ethereum network following the 2021 bull market.
It is worth noting that another transaction from the same wallet was sent with a gas fee of 6 ETH, which suggests that the user may have set such a high fee on purpose.
There is no need to panic, everything is working normally on the Ethereum network
Despite the outstanding transaction, the Ethereum network is running smoothly and no technical issues have been detected. Ethereum’s average transaction fee is still much lower at $0.8214/tx, making the 20 ETH gas fee, which is equivalent to 17848020579.57 gwei (gwei is a smaller unit of ETH, gas fees are usually listed in this), even more unusual and it seems more mystical.
However, the attention-grabbing transaction did not affect Ethereum’s overall performance. The coin’s price has shown a definite upward trend in recent days. The cryptocurrency reached the local resistance level of $1,700, a price level not seen in two months. This is a positive sign for Ethereum, which continues to gain strength in the market.
However, the second-largest cryptocurrency by market capitalization failed to gain a foothold above the aforementioned resistance level. It quickly sank back into the $1,600 price range it had been in for the past 20 days. At the time of writing, Ethereum is trading at $1,639, with a change of -1.68% in the last 24 hours.
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