An unknown user spent 64 ETH (~$120,000) on gas to buy meme-cryptocurrency Four (FOUR) worth 84 ETH (~$156,000).
According to the onchain data, the transaction was made using the decentralized exchange Uniswap. The trader converted 84 “wrapped” ETH (WETH) into 3.8 billion FOUR.
Twitter user FlurETH reported that the user had already recorded a profit of 133 ETH ($240,000).
According to DEXTools, a new meme token was launched on the Ethereum network on the morning of May 8. As of this writing, the coin’s daily trading volume is $68.3 million and its market capitalization has reached $33.6 million.
The token’s name probably refers to Binance CEO Changpeng Zhao’s “fourth rule” of disregarding FUD.
According to Etherscan, fees for simple coin transfers on the Ethereum network currently range from $4.77 to $4.88.