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Author Topic: The popularity of ether is declining due to extra gas fees & poor transactions?  (Read 7627 times)

Offline Dark Knight

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Currently the amount of gas in the etherium platform has increased slightly due to the etherium platform Popularity has waned.
Looking at the cryptocurrency market, it can be seen that the trading volume is much higher.For which the price of etherium coins is rising.
However, the popularity of the platform has increased again as before.

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Offline Bobcrypto

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With the high gas, I think the ethereum popularity will soon start to drop gradually and my be left for big investors only. Also, remember that crypto is driven by the community and without a large numbers of the community, it's popularity, uses, adoptions will dwindle. Ethereum has benefitted immensely from it's large community world wide but if the gas fee continues on the high side, the people will has no options but find their way to other platforms where they will very low gas transaction fees.

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Offline Alcor

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Currently, due to the extra gas fees and weak transactions of the Etherium network, everyone is forced to use the Binance network instead of the Etherium network and most of the crypto projects are also being launched on the Binance network. This is because the gas fee of Binance network is much less than that of Ethereum network and the transaction is completed faster. So I think Binance's popularity is increasing day by day and Etherium's popularity is declining.
Do you agree with me?
If cryptocurrency users are now switching to using the Binance network and at the same time using the Ethereum network less due to high transaction fees, this does not mean that the Ethereum network is losing its popularity. I have also practically stopped using the ethereum network now, partly due to expensive transactions, partly due to the fact that I expect the price of both ethereum and the tokens issued on this platform to rise. At the same time, on the contrary, I try not to reduce my ethereum reserves, since I believe that after the update this coin will significantly increase both in popularity and in price.

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Offline Sumi

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Ethereum's additional transaction fees had a detrimental effect on Ethereum Price. Now the Ethereum transaction fee has come down drastically which is why the Ethereum price has gone up so much. But when the Ethereum transaction fee was high, there was a lot of problem in selling the tokens because the transaction fee was more than the amount of dollars that could be sold. But now all the problems have been solved to reduce the Ethereum transaction fee.
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Offline Lifetime

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Dont see Ethereum popularity decrease. According to coinmarketcap or coingecko its dominance only increases.
Right now an Ethereum transaction cost less than $1.5 which I find everyone could afford. It is silly to expect low transaction fees when the expecting price of Ethereum only to grow
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Ethereum is still a good coin and it will never decrease in value, but the tokens based on the ERC20 network will decrease in value day by day because no one will make a transfer or a trade using Metamask and pay $100+ fees! I'm holding some tokens in Metamsk for months now, I can't sell them because of fees and I already gave up. That's why many new projects are using the BSC network and not ERC20 anymore!

Offline dekafee79

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Maybe there is a decline in ETH popularity but not so significant. I think most crypto users still trust Ethereum. Moreover, we can see that the gas fees decreasing currently. Ethereum is the best altcoin ever, people already feel comfortable using Ethereum. They must realize that Ethereum is hard to overtake bay other altcoins, including Binance coin. So, in my opinion, the popularity of Ethereum is still in a good shape.

That's true, many projects still believe in Ethereum, especially ERC20 platform.
High gas fee is the problem, BSC TRC20 an others are  alternate smart contract platform, but not popular as Ethereum.
Cardano maybe will be more popular,but not for the next few years

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. Now the Ethereum transaction fee has come down drastically which is why the Ethereum price has gone up so much. But when the Ethereum transaction fee was high, there was a lot of problem in selling the tokens because the transaction fee was more than the amount of dollars that could be sold. But now all the problems have been solved to reduce the Ethereum transaction fee.There are several alternate smart contract platform now.
Investors can use alternate smart contract platform for their new project.
Ethereum will be declined by many people.
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Offline IyemRoker

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Lowering the GAS fee for Ethereum is really very difficult because Ethereum is getting more and more expensive and the price continues to rise unstoppably, if you don't believe it, please check the price on Coinamrketcap and Binance Exchange.
If we rely on Ethereum for a single token delivery, it takes around 0.001 only, it still feels very expensive now, especially with a token fee of around 0.01 Ethereum, has the cost of sending Ethereum tokens gone crazy now?
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Offline Zezari

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    Fifth year Anniversary Fourth year Anniversary 10 Posts
The popularity of the ether is decreasing due to high gas charges, but it needs to do something about this problem. If they fix it, on the contrary, its popularity will increase many times more and the price will be even more many times.
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Offline sacrotic

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    10 Posts First Post Second year Anniversary
Most people will agree with you but for me ETH still the best choice for any and many platform to grow up. Already have network, fanatic follower and always release news up date about their technology become powerful weapon to make users stay in their territory. Eth 2.0 will release and become answer about fees and quality network, Binance have powerful marketing strategy, they have follower but not fanatic.

Offline Delgboke

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    Fifth year Anniversary Fourth year Anniversary 10 Posts
It was not like that from the beginning of Etherum Blockchain development the increase in Etherum gas feels is just to tells that in every growth in the Cryptocurrency industry is opportunity for most project gas feels to increase in value because some of those Cryptocurrency company believe that crypto currency business is a big investment I think that's why Etherum gas transactions has also increased.
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Offline collinsjie

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    Third year Anniversary Second year Anniversary 1000 Posts
A lot of projects are still using the Ethereum network as a result of much trust. It will not be easy to FOR Ethereum to be extinct from the market. The still have much trust from other Eth token as a result of trust despite the increase in the gas fees..
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Offline kent47400

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    Fifth year Anniversary Fourth year Anniversary Search
Ethereum is still more popular than others, so even though sometimes I feel disappointed that the price of Ethereum is really very expensive and Ethereum is still ranked number 2 on Coinmarketcap.
I also don't deny that Ethereum has an extraordinary value than the price of USD but I am also sure that Ethereum has a respected value in the Ethereum community with so many ERC20 tokens that have developed and have an expensive value.
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Offline anshor1

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Currently, due to the extra gas fees and weak transactions of the Etherium network, everyone is forced to use the Binance network instead of the Etherium network and most of the crypto projects are also being launched on the Binance network. This is because the gas fee of Binance network is much less than that of Ethereum network and the transaction is completed faster. So I think Binance's popularity is increasing day by day and Etherium's popularity is declining.
Do you agree with me?

Yes, I agree. Binance popularity is increasing and I see many projects already migrate to binance smart chain.
But becareful, There are many scam project at BSC.
We must choose good projects in there.

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