This is possibly the largest transaction ever made using Ethereum, a transaction worth $ 175,090,000 that was recently made. Fee charged for this transaction is $ 5.93. Lately there has been an increase in transactions with high volumes. In February, another anonymous user transferred $ 122 million XRP from their Coinbase account to an unknown wallet.
Both XRP and Ether are cryptocurrencies used to conduct daily high volume transactions. As of now, Ether holds the No. 2 spot by market cap, currently worth around $ 1,750 per coin. XRP looks solid in seventh place, with a value of $ 0.4476 per coin.
Unidentified wallet addresses are on the rise
Transferring large amounts of holdings to unknown wallets is growing in popularity. Although trading cryptocurrencies is anonymous, most exchanges (such as Coinbase and Kraken) still need a valid ID to own a digital wallet.
In fact, you can’t even sign up for an account without revealing personal information and deleting that information. Once the process is complete, your account will be active to trade, hold, buy or sell.
The high value of Ethereum is to be blamed
With Ethereum’s boom in value, anonymous transactions like this are likely to become the point of controversy. Many countries are opening meetings on crypto regulation. This is exactly the kind of stumbling block that regulators and legislators can point out. And it won’t be beautiful.
Ethereum’s circulating supply is no longer small. With 115,026,617 ETH in total circulation, 68.6% of its total supply is held in large accounts. Most of these hold more than 10,000 ETH, according to Santiment.
Blockchain and NFT
Ethereum’s blockchain network was soon famous for its ease of creating and running smart contracts on its platform. This network is famous for decentralized applications (Dapps.) Dapps actually integrate ETH to pay the network fees that the platform itself provides.
The tokens are not limited to holding monetary value. They can be tied to a variety of assets, practically anything the developer chooses. These assets can include things like certificates of ownership, stocks, gold, digital artwork, and more. In addition, developers have become very creative in asset encryption and value-building, sometimes with wealth. Furthermore, tokens can be easily exchanged or traded on a peer-to-peer basis.