• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Cryptos

Investor moves $1 billion for $7 fee on Ethereum Blockchain

Olumide Adesina by Olumide Adesina
January 16, 2021
in Cryptos
Ethereum, Crypto
Share on FacebookShare on TwitterShare on Linkedin

A large entity paid a transaction fee of $7.5 fee to just move $1 billion worth of SNX assets on the Ethereum network at a time the utility crypto, Ether itself traded around $1,200.

According to data retrieved from Etherscan data, money was transferred from a contract called “Synthetix: Reward Escrow” to an Ethereum wallet that contains the $1 billion in SNX tokens and appears to be a second version of the Synthetix Rewards escrow contract.

READ: Fear of U.S Financial regulators cripple XRP, tumbles by 61%

RelatedStories

Inflation, a major factor driving DeFi adoption in Nigeria – Polytope Labs Co-Founder 

Inflation, a major factor driving DeFi adoption in Nigeria – Polytope Labs Co-Founder 

September 4, 2025
Ethereum gains 3.8% as SEC drops its investigation on status of asset 

Standard Chartered: Ethereum’s treasury adoption sparks investment optimism

August 7, 2025

At press time, Synthetix traded at $15.75 with a daily trading volume of $314.3 million. Synthetix is up 8.90% for the day.

It is presently the 23rd most valuable crypto by market value worth about $1.8 billion. It has a circulating supply of 114,841,533 SNX coins and a max. supply of 212,424,133 SNX coins.

READ: Ripple plans to bring XRP ledger to central banks

What you should know: Synthetix is a type of Crypto liquidity protocol asset on the Ethereum network that facilitates the issuance and trading of synthetic assets.

  • Each synthetic asset (or Synth) is an ERC20 token that tracks the price of an external asset; for example, each dollar token tracks the price of the US dollar (and unlike the other synthetic assets, is fixed at 1).
  • A wide variety of Synths exists within Synthetix, including commodities, fiat currencies, cryptocurrencies, and inverse indexes.
  • In principle, the system can support any asset with a clear price and provide on-chain exposure to an unlimited range of real-world assets. The protocol will enable a variety of trading features including binary options, futures, and more.

Follow us for Breaking News and Market Intelligence.
Tags: BloockchaincryptoEthereumEtherscanSynthetix
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

Related Posts

Inflation, a major factor driving DeFi adoption in Nigeria – Polytope Labs Co-Founder 
Cryptos

Inflation, a major factor driving DeFi adoption in Nigeria – Polytope Labs Co-Founder 

September 4, 2025
Ethereum gains 3.8% as SEC drops its investigation on status of asset 
Cryptos

Standard Chartered: Ethereum’s treasury adoption sparks investment optimism

August 7, 2025
Bitcoin, Ethereum crash as Crypto liquidation hits $708 million 
Cryptos

Bitcoin, Ethereum crash as Crypto liquidation hits $708 million 

August 2, 2025
PayPal to let businesses accept over 100 cryptocurrencies at checkout 
Financial Services

PayPal to let businesses accept over 100 cryptocurrencies at checkout 

July 28, 2025
Ethereum, Crypto
Cryptos

Ethereum’s momentum builds, price eyes $4K milestone   

July 28, 2025
Gold
Cryptos

Boost N2.77 trillion gold reserves and explore crypto as asset diversification strategy, experts urge CBN  

July 23, 2025
Next Post
Nigeria needs to produce, export more oil and gas to sustain fiscal needs -Economist

Oil prices suffer worst trading loss in a month

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

otd
arco
Palmpay
access bank
nairametrics
first bank








DUNS

Recent News

  • Meet 15 Nigerian actors making waves in Hollywoods’s $49 billion film industry 
  • PETROAN asks FG to partner with foreign company in management of Port Harcourt refinery
  • Nexamont acquires 21.4% stake in Royal Exchange Plc valued at N3.6 billion 

Follow us on social media:

Recent News

Actors and Actresses images

Meet 15 Nigerian actors making waves in Hollywoods’s $49 billion film industry 

September 21, 2025
Port Harcourt Refinery

PETROAN asks FG to partner with foreign company in management of Port Harcourt refinery

September 21, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics