Renowned Ethereum (ETH) developer Kane Warwick, founder of the Synthetix Network, a decentralized financial protocol (DeFi), announced that we have witnessed the largest Ethereum transaction of yesterday.
At the same time, Warwick shared a tweet from the automated service SNX Whale Watch, which tracks large transactions, about the transfer on January 15, 2021 from the Synthetix Reward escrow account.
Probably the biggest tx of the day on Ethereum… https://t.co/33aiyorUtF
– kain.eth (kaiynne) January 15, 2021
A leading observer on the Ethereum (ETH) Etherscan network revealed the following details: A $ 1,129,145,279 transfer of 74,580,269 SNX was included in the Ethereum 11657482 block at 4:31 am GMT.
It was confirmed within 30 seconds, the commission was 0.0061254 Ether ($ 7.36). The sender set the gas price at 60 Gwei.
The Ethereum (ETH) community is impressed with this transaction, confirmed at 0.00000065% of its value. Compound (COMP) CEO Robert Leschner named this is an epic event.
This is epic
— Leshner (@rleshner) January 15, 2021
Ethereum (ETH) network fees have been growing rapidly over the past months due to severe network congestion. For example, during the busiest days of the DeFi frenzy in August, Ethereum (ETH) fees hit a three-year high of over $ 15 (average).
Ten days ago, when Ethereum (ETH) went up in price over $ 1,000, the blockchain was overloaded again, which caused the usual daily gas price to rise to 569 Gwei.
It is worth noting that in 2020, for the first time in its history, Ethereum (ETH) surpassed Bitcoin (BTC) in aggregate network fees.
By data network analysts at Glassnode, Ethereum (ETH) fees are up 1,700% year over year.
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