A crypto wallet belonging to trading platform Binance has spent 530 Ether (ETH), worth around $843,797, in gas fees in just 24 hours, according to blockchain data explorer Etherscan.
On Sept. 21, gas fees on the Ethereum network went from a minimum of 6 gwei (around $0.17) to a maximum of 332 gwei (around $11.20) per transaction. The spike in gas prices was attributed to the Binance wallet, called “Binance 14.”