Ethereum gas price drops to $0.82 ( 24 gwei ), end of defi/NFT hype?

[cryptoworld1]

The rising popularity of decentralized finance (DeFi) has brought fresh attention and optimism to the cryptocurrency sector with the total value locked on all protocols increasing from $1 billion to $59 billion in less than a year and the top 5 platforms accounting for $24.33 billion of the total value.

Rising gas fees have been one of the most noticeable results of the increasing interaction with DeFi protocols and currently, the Ethereum
ETH

tickers down
$1,639

 network hosts the majority of the top DeFi projects. Gas fees have been steadily rising since November 2020 and reached a peak on Feb. 23 when the average transaction cost reached 373 Gwei which is approximately $11.72 at the current Ether price.

[Doovla]

Down could be expect even less than 24 gwei throught bear market condition considering that supply circle is fast run.Even in bullish market gas fee should cost like it use to be from 4 gwei to 8 gwei minimum.Market dominance is getting stable high again.NFT is in period of get more and more popular in many new project like source of buying and selling after some time when value keep rise so not ever soon will hype get finish.

[IvugeoEvolutionCoin]

Down could be expect even less than 24 gwei throught bear market condition considering that supply circle is fast run.Even in bullish market gas fee should cost like it use to be from 4 gwei to 8 gwei minimum.Market dominance is getting stable high again.NFT is in period of get more and more popular in many new project like source of buying and selling after some time when value keep rise so not ever soon will hype get finish.

Currently, NFT transaction costs have fallen very cheaply. This depends on market conditions. When there is a lot of demand and many people carry out transactions using the NFT network, gas costs will increase again. This is natural, when there is an increase in the process, there will be transaction costs that increase too.

[sampoerna]

The ETH gas rate will continue to change and vary over time. And the changes will also depend on several things, especially the price of ETH and also whether the network is crowded or not. Currently, the ETH Gas fee is only around 26-28 Gwei. So you could say this is still quite affordable even though the fees have increased quite a bit. At least we can be on guard so that we have moved the erc20 tokens so we can prepare for the bullrun later.

[Doovla]

Ethereum team counting the transactions per minute or day in Ethereum network have big influence on gas price, so when amount of transactions get big by day then price drops significatly.

[Google+]

Ethereum team counting the transactions per minute or day in Ethereum network have big influence on gas price, so when amount of transactions get big by day then price drops significatly.

I think that when more and more people use the Ethereum network to carry out transactions, the network will become congested and transaction costs will definitely increase. If you want to send at a low cost then you have to change the blockchain network you use first, the current BSC Network It's quite good and a good consideration for making transactions.

[UNIVERSE]

Currently, Ethereum gas fees continue to experience changes. but it's not as significant as last season. In the end, we can see that the gas fee for Ethereum is not that high even though the market has started to rise. I think the gwei fee will jump even higher, especially when the network is quite crowded. but apparently not, it's now rated at around 21 gwei and this is quite reasonable in an era like this.

Now for NFTs themselves, we will still encounter them, although whether they are still as significant as before or not, when NFTs were really hype at that time. This is about to start a bullish era, but the NFT hype is still not that visible anymore. So there are various questions about whether NFTs are still worth it or not, we still need to monitor them.

[Kemarit]

The ETH gas rate will continue to change and vary over time. And the changes will also depend on several things, especially the price of ETH and also whether the network is crowded or not. Currently, the ETH Gas fee is only around 26-28 Gwei. So you could say this is still quite affordable even though the fees have increased quite a bit. At least we can be on guard so that we have moved the erc20 tokens so we can prepare for the bullrun later.

And months after that, still as will change and very volatile as well, similar to Bitcoin during the months when BRC20 was clogging the network. Investors or crypto enthusiast at least question how ETH will survived if the gas price continue to go up as we approach the Bitcoin halving and the bull run.

There are already alternatives though to shift to other network or swap it out. At least you won't be stressed out of the gas fees and it will make your ETH transactions as smooth as possible. However, I don't think Defi/NFT hype will die down, it might slow down but I'm not seeing a death.

[EthereumDev_]

Currently, Ethereum gas fees continue to experience changes. but it's not as significant as last season. In the end, we can see that the gas fee for Ethereum is not that high even though the market has started to rise. I think the gwei fee will jump even higher, especially when the network is quite crowded. but apparently not, it's now rated at around 21 gwei and this is quite reasonable in an era like this.

Now for NFTs themselves, we will still encounter them, although whether they are still as significant as before or not, when NFTs were really hype at that time. This is about to start a bullish era, but the NFT hype is still not that visible anymore. So there are various questions about whether NFTs are still worth it or not, we still need to monitor them.

This is a fairly normal movement in gas fees because Ethereum's gas fees depend on the level of transaction density on the Ethereum network. As you have said, when the network is busy, gas fees will increase, but when the network is quiet, gas fees will start to increase. decrease.

[enwi]

This is a fairly normal movement in gas fees because Ethereum's gas fees depend on the level of transaction density on the Ethereum network. As you have said, when the network is busy, gas fees will increase, but when the network is quiet, gas fees will start to increase. decrease.

It's true, when transactions are not too busy then the costs required will indeed go down, but when we want to make a transaction such as purchasing something very important and have to make payment right then and there then we can't wait until the transaction costs go down.