Ethereum network Gas fee exceeded 300 Gwei

[TopT3ns]

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.

[bitterguy28]

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

This 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.

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.

well congestion is what we always  blame for this and not the miners 

[TomPluz]

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 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.

[pacar_tiri]

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 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.

[legend45]

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 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.

This is not a new problem, this problem has been around for a long time. many complain about the high cost of ethereum gas, but the #DevelopmentTeam  did not find a solution until now. In the past, when we heard about ethereum 2.0, many predicted that this would be a solution to the gas fee problem, but it turns out that the gas fee problem has not been resolved until now.

[MUGNIA]

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 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,

[salad daging]

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.

You can look at the Eigen Layers (restaking) project with hundreds of millions of dollars going into ETH there not to mention other restaking projects, how could they leave ETH because of a fee they would not think of that because they know that behind it all there is a big plan including points that can be profitable.

Look at projects that are on the ETH network, it will tend to survive more than projects on other networks even though it is cheap in transactions, there are still many projects that are scams that are useless.

[IvugeoEvolutionCoin]

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.

[EthereumDev_]

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.

[Crwth]

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.

Even with high gas fee, it’s still being utilised, you know.

[EthereumDev_]

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.

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.

[Legion]

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.

[bitterguy28]

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 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?

[TopT3ns]

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.

[de_prof]

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.