Assessing the ‘why’ behind ETH’s gas price spike due to Binance

📆 12/12/2022 1:35 AM
📰 CryptoAmb

⏱ Reading Time:
29 sec. here
2 min. at publisher
📊 Quality Score:
News: 15%
Publisher: 68%

Coin Coin Headlines News

Coin Coin Latest News,Coin Coin Headlines

Ethereum’s gas fees spiked due to Binance’s Proof-of-Reserves endeavors Activity on the network increased, however, sentiment against Ethereum declined Over the last few days, there was a massive spike in Ethereum’s [ETH] gas fees and gas spent. This massive spike was caused by Binance moving large amounts of Ethereum for their Proof-of-Reserves endeavors. Read Ethereum’s […]

Ethereum propels ahead

As can be seen from the image below, Ethereum’s gas fees reached new highs, soaring to 222 gwei. According to Wu Blockchain, this occurred because: “Binance consolidated funds from countless deposit addresses to the Binance14 hot wallet in preparation for the next stage of POR check.”in a bid to validate its PThe Ethereum Gas fee once soared to 222 Gwei, as binance consolidated funds from countless deposit addresses to the Binance14 hot wallet in preparation for the next stage of POR check. Binance has completed its BTC reserve and is starting an ETH check.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Binance Coin buyers can look for a retest of this 12-hour breaker to buy BNBDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion The market structure saw a bullish break in late November Since reaching $313, BNB has bled slowly and could post further losses Bitcoin traded within a range from $17.7k to $15.6k since 9 November. […]
Source: CryptoAmb - 🏆 22. / 68 Read more »