A Binance-connected wallet, tagged Binance 14, recorded a stream of transactions according to Etherscan data. Also Read: US Judge denies SEC request t
Reportedly, the transfers were part of the Binance ecosystem’s “routine consolidation” of ETH to one of its wallets. According to the largest exchange by trading volume, it normally aggregates wallets during low gas fee times to safeguard user funds. Despite this assertion, Binance said that the heightened gas fees was an “unintentional but quickly resolved” outcome.Nevertheless, traders, who were caught off guard, were not quelled by the explanation.
Notably, the event positioned Binance 14 in the leading position for top 50 gas guzzlers in today’s list of contracts or accounts that consume a lot of gas.what makes this slightly fishy is that they are massively overpaying to do this. But large organizations are messy and inefficiencies will always arise so most likely it is just that.
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