According to Etherscan data, the current Ethereum network Gas fee exceeded 300 Gwei for a short time
That was several months ago, perhaps when there was a surge in Ethereum coin transactions and various ERC20 tokens.According to Etherscan data, the current Ethereum network Gas fee exceeded 300 Gwei for a short timeBut 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.
According to Etherscan data, the current Ethereum network Gas fee exceeded 300 Gwei for a short timeJust checked, for gwei Eth has now dropped to Low at 44 gwei, and High at 52 gwei.
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.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.
Source: https://etherscan.io/gastracker#costTxAction
Sadly, ethereum became a very expensive blockchain... It used to be much cheaper a few years ago.
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 8)
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 8)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.
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.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 8)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?
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.
According to Etherscan data, the current Ethereum network Gas fee exceeded 300 Gwei for a short timeWow, 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?
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 $50 in our wallet. Users think about how much transaction fee they have to pay before making a transaction.The problem of very expensive transaction fees may be considered by developers as a classic and normal problem because when the exchange value of Ethereum increases, the value of Ethereum transaction fees also increases. Of course, the condition of transaction crowds is also a consideration because sometimes when prices rise, transactions on the Ethereum network are also crowded, making transactions take longer and transaction fees are quite expensive.
According to Etherscan data, the current Ethereum network Gas fee exceeded 300 Gwei for a short timeThis is when the time that I almost lose my confidence and trust in ethereum because I normally experience huge withdrawal fee in bitcoin for some time but in Ethereum? i am going to withdraw 60$ and the gas fee is almost the same as the withdrawal amount.
well congestion is what we always blame for this and not the miners :DOne 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.The problem of very expensive transaction fees may be considered by developers as a classic and normal problem because when the exchange value of Ethereum increases, the value of Ethereum transaction fees also increases. Of course, the condition of transaction crowds is also a consideration because sometimes when prices rise, transactions on the Ethereum network are also crowded, making transactions take longer and transaction fees are quite expensive.(https://i.imgur.com/WGaUItX.jpeg)
The problem of very expensive transaction fees may be considered by developers as a classic and normal problem because when the exchange value of Ethereum increases, the value of Ethereum transaction fees also increases. Of course, the condition of transaction crowds is also a consideration because sometimes when prices rise, transactions on the Ethereum network are also crowded, making transactions take longer and transaction fees are quite expensive.
I made a big mistake of not transferring my small amounts of ETHs in at least 7 accounts right when the gas was cheaper. Right now, based on the gas tracker (https://etherscan.io/gastracker)the average is 62 gwei priced at $4.58. I understand this is not what cryptocurrency should be and that is why I joined the many who think that Ethereum has a black eye on this side of the equation. I think that a transaction should not costing us more than $.25. I am really wondering if there will come a time when transaction cost in Ethereum can go lower than $1 because that would be lovely and be embraced by many ETH supporters.Well, I agree with what you say, the problem that occurs with Ethereum is no longer pleasant because transaction fees are very expensive, which means there is the potential to lose Ethereum users. At least Ethereum developers must immediately address this problem and I'm sure many people have complained about this.
I made a big mistake of not transferring my small amounts of ETHs in at least 7 accounts right when the gas was cheaper. Right now, based on the gas tracker (https://etherscan.io/gastracker)the average is 62 gwei priced at $4.58. I understand this is not what cryptocurrency should be and that is why I joined the many who think that Ethereum has a black eye on this side of the equation. I think that a transaction should not costing us more than $.25. I am really wondering if there will come a time when transaction cost in Ethereum can go lower than $1 because that would be lovely and be embraced by many ETH supporters.Well, I agree with what you say, the problem that occurs with Ethereum is no longer pleasant because transaction fees are very expensive, which means there is the potential to lose Ethereum users. At least Ethereum developers must immediately address this problem and I'm sure many people have complained about this.
The problem of very expensive transaction fees may be considered by developers as a classic and normal problem because when the exchange value of Ethereum increases, the value of Ethereum transaction fees also increases. Of course, the condition of transaction crowds is also a consideration because sometimes when prices rise, transactions on the Ethereum network are also crowded, making transactions take longer and transaction fees are quite expensive.
I made a big mistake of not transferring my small amounts of ETHs in at least 7 accounts right when the gas was cheaper. Right now, based on the gas tracker (https://etherscan.io/gastracker)the average is 62 gwei priced at $4.58. I understand this is not what cryptocurrency should be and that is why I joined the many who think that Ethereum has a black eye on this side of the equation. I think that a transaction should not costing us more than $.25. I am really wondering if there will come a time when transaction cost in Ethereum can go lower than $1 because that would be lovely and be embraced by many ETH supporters.
ETH was abandoned because the transaction fees were very high, so I agree with you, I'm sure everyone will be happy if the transaction fees are lower than 1$, even if they are high, just 1$, everyone will not hesitate to return to using ETH for transactions,I am quite intrigued by your statement that ETH is starting to be abandoned due to high fees. ;D
ETH was abandoned because the transaction fees were very high, so I agree with you, I'm sure everyone will be happy if the transaction fees are lower than 1$, even if they are high, just 1$, everyone will not hesitate to return to using ETH for transactions,Yes, you are right, currently many people do not use the Ethereum network to carry out transactions. Honestly, when you want to send assets and you ask what network do you want to use? then it will answer networks that have cheap transaction fees such as BSC or Solana.
Yes, you are right, currently many people do not use the Ethereum network to carry out transactions. Honestly, when you want to send assets and you ask what network do you want to use? then it will answer networks that have cheap transaction fees such as BSC or Solana.Of course I will try to use a network that has cheaper transaction fees, as you have mentioned between BSC and Solana. When using the Ethereum network, transaction fees are very expensive and if the amount of assets sent is very small, for example $10, then transaction fees can reach $15. even $20 when the network is crowded.
I have noticed that most of the people are still buying ETH and keep on holding it because it is worth it. With the recent news and possible upgrades that it has, it is a matter of time that it increase in price more and more.Yes, you are right, currently many are doing it because they realize that there will be good news with Ethereum on May 23 2024 which will make the price of Ethereum increase very expensively like the price of Bitcoin when it was first received and entered the ETF exchange making the price increase.
Even with high gas fee, it’s still being utilised, you know.
Yes, you are right, currently many are doing it because they realize that there will be good news with Ethereum on May 23 2024 which will make the price of Ethereum increase very expensively like the price of Bitcoin when it was first received and entered the ETF exchange making the price increase.The SEC was under pressure to postpone the ETF or could also cancel the ETF for Ethereum because several cases occurred which ultimately made the SEC force Ethereum to immediately resolve the problem until it was resolved. This incident resulted in the ETF being postponed and many were disappointed.
Sometimes I wanted to think that there are someone that manipulates or take advantage of the situation but this is the system and what can we do on that? sorry for what have you missed when the fee is stillsuper cheap , I remember those days back in 2017-2018 when it is so much cheaper but nowadays specially in our days now that the market is crazy moving?
The problem of very expensive transaction fees may be considered by developers as a classic and normal problem because when the exchange value of Ethereum increases, the value of Ethereum transaction fees also increases. Of course, the condition of transaction crowds is also a consideration because sometimes when prices rise, transactions on the Ethereum network are also crowded, making transactions take longer and transaction fees are quite expensive.
I made a big mistake of not transferring my small amounts of ETHs in at least 7 accounts right when the gas was cheaper. Right now, based on the gas tracker (https://etherscan.io/gastracker)the average is 62 gwei priced at $4.58. I understand this is not what cryptocurrency should be and that is why I joined the many who think that Ethereum has a black eye on this side of the equation. I think that a transaction should not costing us more than $.25. I am really wondering if there will come a time when transaction cost in Ethereum can go lower than $1 because that would be lovely and be embraced by many ETH supporters.
Sometimes I wanted to think that there are someone that manipulates or take advantage of the situation but this is the system and what can we do on that? sorry for what have you missed when the fee is stillsuper cheap , I remember those days back in 2017-2018 when it is so much cheaper but nowadays specially in our days now that the market is crazy moving?Yes, that's right, for those who have a lot of money, they have the potential to manipulate coin prices on exchanges, they have the power to do that, whales often raise and lower coin prices instantly and this usually happens in altcoins. Ethereum gas fees are currently cheap because there are not too many transactions on the Ethereum network, but it will be different when more and more people use the Ethereum network, the transaction fees incurred will be expensive.
As cheap as gas fees are on the ethereum network, in my opinion it is expensive, because other networks such as Binance Smart Chain, Solana and Tron are much cheaper. Currently, because the traffic is low, that's what causes the ethereum gas fee to go down, but if traffic goes up we will also see the gas fee going up.Sometimes I wanted to think that there are someone that manipulates or take advantage of the situation but this is the system and what can we do on that? sorry for what have you missed when the fee is stillsuper cheap , I remember those days back in 2017-2018 when it is so much cheaper but nowadays specially in our days now that the market is crazy moving?Yes, that's right, for those who have a lot of money, they have the potential to manipulate coin prices on exchanges, they have the power to do that, whales often raise and lower coin prices instantly and this usually happens in altcoins. Ethereum gas fees are currently cheap because there are not too many transactions on the Ethereum network, but it will be different when more and more people use the Ethereum network, the transaction fees incurred will be expensive.
As cheap as gas fees are on the ethereum network, in my opinion it is expensive, because other networks such as Binance Smart Chain, Solana and Tron are much cheaper. Currently, because the traffic is low, that's what causes the ethereum gas fee to go down, but if traffic goes up we will also see the gas fee going up.That's right, when you want to make transactions between exchanges it is better to use the three networks you mentioned because so far Tron, BNB and Solana have very cheap network transactions. Instead of using the Ethereum network which has quite expensive fees.