Worth it? Trader spends $120K on gas buying $155K worth of a memecoin
A user spent an additional 76% of their total purchase price in gas fees on a single memecoin trade. 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). According to an update from the popular blockchain tracking service ‘Whale Alert’, the lone trader paid an astonishing $119,157 in Ether (ETH) to complete a Unsiwap trade that swapped 84 Wrapped Ether (WETH) for 13.8 billion FOUR tokens. 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 It appears as though the trader voluntarily increased their gas fee to speed up the transaction time to purchase 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 . High gas fee transaction details. Source: Etherscan. Gas fees on the Ether...