U.Today - In what has sparked curiosity and concern in the crypto community, a Bitcoin user recently paid a staggering 1.0 BTC, worth $120,381 in transaction fees, according to blockchain tracker Whale Alert.

The unusually high fee was tied to a single Bitcoin transaction, sparking interest in the crypto community.

While transaction fees are typically just a few dollars or less, even during network congestion, a 1 BTC fee stands out as a major anomaly. Some speculate it could be an error in manually setting the fee, a calculated whale move to make a statement or even testing the network, but the real explanation is unknown as of press time.

A closer look at the transaction on the Whale Alert platform suggests it could be an error, given the quantity of BTC moved by the wallet — less than 1 BTC. Regardless of the reason, the transaction underscores the importance of double-checking fee settings before taking action.

This is not the first time such occurrences have happened. In December, a Bitcoin user paid an exorbitant 8.18 Bitcoin (worth $808,564 at the time) for a single transaction, while only moving 0.142 Bitcoin.

Bitcoin hits new record highs

Despite a slump in U.S. stock markets on Wednesday, the price of the world’s largest cryptocurrency is rising. Bitcoin has historically correlated with equities markets, particularly the technology-heavy Nasdaq.

JPMorgan CEO Jamie Dimon, a noted Bitcoin skeptic, announced that the bank will allow customers to purchase the digital currency, adding to the positive news for crypto.

This article was originally published on U.Today