Chinese crypto journalist and blogger Colin Wu has taken to X social media platform to share news about the gas fee on the Ethereum chain soaring as high as 30x. According to his post, the fee on the ETH mainnet has gone up from less than 10 to approximately 300. Wu explains this sudden surge in gas price by the high on-chain activity of the Binance 14 hot wallet, which belongs to the leading crypto exchange spearheaded by Changpeng Zhao (CZ).