Ethereum

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Chinese crypto journalist and blogger Colin Wu has taken to X social media platform to share news about the gas fee on the <a href="https://u.today/crypto-wallet-provider-issues-alert-to-eth-polygon-holders" rel="noopener noreferrer nofollow">Ethereum chain</a> soaring as high as 30x. 
According to his post, the fee on the ETH mainnet has gone up from less than 10 to approximately 300. 
Wu explains this sudden surge in gas price by the high on-chain activity of the Binance 14 hot wallet, which belongs to the leading crypto exchange spearheaded by Changpeng Zhao (CZ). 
Wu added that the amount of gas consumed by transactions made via this wallet today has surged to 362 ETH, with the overall number of transactions reaching 94,000. This is a lot higher than usual, the blogger concluded. 
<blockquote> 
 The GAS of the Ethereum mainnet has soared from less than 10 to about 300. The main reason may be the sudden increase in a large number of transfers on Binance 14. The GAS consumption of this address today reached 362 ETH, and the number of transfers reached 94,000, which is far…— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1704811113890938903?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 21, 2023</a> 
</blockquote> 
The tracker currently shows that the overall deposit transaction count on <a href="https://u.today/shib-xrp-holders-should-pay-attention-to-this-binance-announcement" rel="noopener noreferrer nofollow">Binance</a> 14 wallet today has reached 145,204. The number of depositing wallets stands at 144,947. By now, 530 ETH has been used on fees. 
<h2 lang="en-GB" xml:lang="en-GB" id="whale-keeps-withdrawing-eth-from-binance-dormant-eth-whale-stirs">Whale keeps withdrawing ETH from Binance, dormant ETH whale stirs</h2> 
"Smart Money" tracking platform <a href="https://twitter.com/lookonchain/status/1704781676055069001" rel="noopener noreferrer nofollow">@lookonchain has reported</a> that not so long ago, an anonymous crypto investor operating large sums of funds (they are often known as whales within the community) moved 5,040 ETH from Binance. This sum in Ethereum is worth roughly $8.17 million. 
The same investor transferred 24,548 ETH in total from this crypto trading venue since Sept. 5, buying this ETH at an average price of $1,631. 
Over the last two days, since Tuesday, the second largest cryptocurrency Ethereum has lost 3.89%, dropping from $1,657 to the $1,592 level. 
As reported by popular crypto tracker Whale Alert, on Wednesday, a <a href="https://u.today/long-dormant-ethereum-genesis-wallet-awakens-to-transfer-eth-to-coinbase" rel="noopener noreferrer nofollow">premine Ethereum whale awakened</a> after spending 8.1 years in dormancy. The wallet immediately transferred a large amount of 200 ETH worth $325,858, presumably with the purpose of selling this crypto lump. 
<blockquote> 
 💤 A dormant pre-mine address containing 200 <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ETH</a> (325,858 USD) has just been activated after 8.1 years!<a href="https://t.co/8DQjyChQ2X" rel="noopener noreferrer nofollow">https://t.co/8DQjyChQ2X</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1704529488015495528?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 20, 2023</a> 
</blockquote> 
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ETH Gas Fee Suddenly Soars to 300, Here's Likely Explanation

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