[Taklimakan Blog] The Excitement around Ethereum Cost the Binance Exchange Almost $10 Million

Over the past week, the Binance crypto exchange had to pay almost $10 million in fees for making transactions with Ethereum.

The ETH rate, following bitcoin, continues to move historical highs, confidently heading for the psychological barrier of $2,000. Against this background, a record increase in the cost of transactions is noted in the Ethereum network.

The gas attack continues

The current situation in the Ethereum ecosystem is primarily related to the ongoing boom in the decentralized finance (DeFi) industry, which is home to this particular blockchain.

Users’ interest in various types of financial activities without the participation of banks or any other intermediaries is growing. Following it, the price of gas also grows.