Binance’s official response: It was a routine operation to collect a large number of wallets when gas fees were low.

Odaily Planet Daily News This afternoon, the gas fee of Ethereum soared to 300 gwei for a short time. Analysts said it was related to Binance’s wallet consolidation. In response to this, Binance officially responded that the platform is only doing the aggregation process when gas fees are low, and gave the following explanation: 1. Usually, exchanges will perform wallet aggregation processing, mainly to facilitate users’ withdrawals and ensure the safety of funds; 2. What triggered the discussion this time was the large number of aggregation transactions. The main reason is that the current gas fee is low and aggregation processing is cost-effective. Therefore, the operation team has aggregated more wallets in this adjustment.