Ethereum network Gas fee exceeded 300 Gwei

[wilkine]

According to Etherscan data, the current Ethereum network Gas fee exceeded 300 Gwei for a short time

[Doovla]

Right now gas fee is nearly as it lowest cost from 8 gwei to 10 gwei which is good at the moment because of steady circle supply ,there is no lack of price so down for keep the Ethereum survive to set gas fee so high.Expect to see even 4 gwei but patience is key because of big bear market ahead.

[sampoerna]

According to Etherscan data, the current Ethereum network Gas fee exceeded 300 Gwei for a short time

It's been a while since I regularly checked Ethereum gas fees. I think in a bearish era it will never go that high. but 300gwei in a market situation that is still like this is really surprising.

But it seems like that has changed quite a bit and is down now. I just checked the gas tracker and it's still under 20gwei. However, for a long time, Ethereum transaction fees have tended to be high and uncertain compared to other networks.

[damsix]

According to Etherscan data, the current Ethereum network Gas fee exceeded 300 Gwei for a short time

But it seems like that has changed quite a bit and is down now. I just checked the gas tracker and it's still under 20gwei.

That was several months ago, perhaps when there was a surge in Ethereum coin transactions and various ERC20 tokens.
I also saw that GAS transactions currently on January 14 2024 are around 16 Gwei and this is very reasonable in my opinion for Ethereum coin transactions.
But the increase in GAS transactions will definitely happen again one day if the Ethereum network is widely used by the community to send ETH coins and various ERC20 tokens. There is no solution for something like that unless we force ourselves to spend more money to pay fees.

https://prnt.sc/Bxb4T3sdVdCV
Please check link above for proof transactions Gwei of Ethereum.

[Doovla]

By now data,gas price is 6 times lower than you let us know. So by that logistic,when price of Ethereum start go up then it is reverse,then gas price go down which is quite interesting. Some time there is no rule for that, it just gather information about how much transactions are per previous day and current day and they do the math about gas price.

[Vx1]

According to Etherscan data, the current Ethereum network Gas fee exceeded 300 Gwei for a short time

Just checked, for gwei Eth has now dropped to Low at 44 gwei, and High at 52 gwei. 
Actually, we should not rush to make a transaction if we feel that the Gwei price is too high, we will wait until the price goes down. Because Gwei Eth inj also experiences high fluctuations, sometimes going up, sometimes going down.
We have to be smart at seeing the movement of eth gas costs.

[vegasus]

Gass fees on the ERC 20 platform or Ethereum platform will definitely and normally change continuously. Even within a few minutes, changes can occur in the gas fee because it depends on the condition of the network. But I was quite surprised by the high level of love even though it wasn't yet a bullish era. whereas now it seems like it has dropped very far because currently I checked the ethereum gas, it is only around 20-23. and this will definitely keep changing when someone else checks it again. So, before we transfer Ethereum or ERC20 tokens, it would be better if we first check the gas fee conditions for the transaction.

[bitmover]

Gass fees on the ERC 20 platform or Ethereum platform will definitely and normally change continuously. Even within a few minutes, changes can occur in the gas fee because it depends on the condition of the network. But I was quite surprised by the high level of love even though it wasn't yet a bullish era. whereas now it seems like it has dropped very far because currently I checked the ethereum gas, it is only around 20-23. and this will definitely keep changing when someone else checks it again. So, before we transfer Ethereum or ERC20 tokens, it would be better if we first check the gas fee conditions for the transaction.

Even though it looks cheap, this is still about 1 USD to transfer ethereum and near 3 USD to transfer USDT. This is still more than the current BTC on chain transaction with 30 sat/vbyte.
Source: https://etherscan.io/gastracker#costTxAction

Sadly, ethereum became a very expensive blockchain... It used to be much cheaper a few years ago.

[MrSpasybo]

Even though it looks cheap, this is still about 1 USD to transfer ethereum and near 3 USD to transfer USDT. This is still more than the current BTC on chain transaction with 30 sat/vbyte.
Source: https://etherscan.io/gastracker#costTxAction

Sadly, ethereum became a very expensive blockchain... It used to be much cheaper a few years ago.

Layer-2 solutions as OP and ARB are developing very quickly and will help reduce the direct transaction volume on Ethereum. The upcoming DenCun update will make these Layer-2 protocols more efficient with lower fees, attracting users and indirectly helping to reduce transactions number and fees on Ethereum.

However, I still think that when we enter the bullrun, investors will still prefer to use Ethereum mainnet and will push transaction fees up to hundreds of dollars. That's part of this market and we have to get used to it 

[bitmover]

However, I still think that when we enter the bullrun, investors will still prefer to use Ethereum mainnet and will push transaction fees up to hundreds of dollars. That's part of this market and we have to get used to it 

This can happen if people use a lot of swap services such as Uniswap (which has a high gas cost). Also, a lot of token transfer costs a lot of gas... this can indeed increase a lot of the fees in a bull market.

[aiviaa485]

However, I still think that when we enter the bullrun, investors will still prefer to use Ethereum mainnet and will push transaction fees up to hundreds of dollars. That's part of this market and we have to get used to it 

Wow, it is clear that Ethereum Layer 1 is everyone's choice because I am also suspicious of the L2 project now seems to target beginners and ready for projects to become fraud.
This is just my guess, if I am wrong, please forgive because the Ethereum layer 2 project must have Ethereum Layer 1 to be used as a bridge capital and the key is in this bridge capital.
If only the L2 project deactivated the bridge wallet which was full of Ethereum L1, then surely we could not make transactions and ended with a scam, right?

[IvugeoEvolutionCoin]

However, I still think that when we enter the bullrun, investors will still prefer to use Ethereum mainnet and will push transaction fees up to hundreds of dollars. That's part of this market and we have to get used to it 

Wow, it is clear that Ethereum Layer 1 is everyone's choice because I am also suspicious of the L2 project now seems to target beginners and ready for projects to become fraud.
This is just my guess, if I am wrong, please forgive because the Ethereum layer 2 project must have Ethereum Layer 1 to be used as a bridge capital and the key is in this bridge capital.
If only the L2 project deactivated the bridge wallet which was full of Ethereum L1, then surely we could not make transactions and ended with a scam, right?

No one knows how L2 will develop. It is important that, when making transactions using a wallet connected to a website, you remain vigilant. Because there is a possibility of it being stolen, but that is all part of the risk that will occur if you are not careful when using a cryptocurrency wallet that stores all your assets. At least the existence of L2 shows that cryptocurrency will always develop.

[EthereumDev_]

This can happen if people use a lot of swap services such as Uniswap (which has a high gas cost). Also, a lot of token transfer costs a lot of gas... this can indeed increase a lot of the fees in a bull market.

In my opinion, swap services still have weaknesses. As you mentioned, very high trading costs may be an important consideration for people because, so far, people prefer exchange places that have cheaper exchange fees. The higher the cryptocurrency exchange price, the more expensive the fees. transactions that must be paid.

[Litzki1990]

One of the biggest problems with the Ethereum platform is that the transaction fees on this platform are always high. Even if you have to do normal transactions, it still costs 20 to 30 dollars of Ethereum to do normal transactions from this platform. If this is the case with normal transaction fees, then imagine the amount of transaction fees you have to pay to transact Ethereum when the transaction fees increase slightly. If we need to transfer $50 to $100 of Ethereum, we will have to pay $30 to $40 transfer fee due to which we will receive $40 to $50 in our wallet. Users think about how much transaction fee they have to pay before making a transaction.

[UNIVERSE]

According to Etherscan data, the current Ethereum network Gas fee exceeded 300 Gwei for a short time

Wow, this really is a fantastic gas fee. But why haven't I met him yet? I thought throughout this bearishera, the gas fee would still be below 100 gwei, but it turns out it was this high?
https://etherscan.io/gastracker

Luckily for now, the gas fee is still only 60gwei even though the price of ETH has risen quite a bit. But who knows what will happen if it jumps again. But what is certain is that the gas fee from ETH is always a big enough problem for those who transfer ETH or tokens to the ERC20 network.