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Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: Hugo Barbosa on June 11, 2020, 02:16:08 PM

Title: Will ETH prices rise when its network usage at a historical high？
Post by: Hugo Barbosa on June 11, 2020, 02:16:08 PM


According to a recent report from Delphi Digital, the amount of Gas used on the Ethereum blockchain is at an all-time high, and the number will continue to grow. Gas is used as a way to charge for the Ethereum blockchain, and the total amount of gas used online has been rising since the beginning of 2020.

(http://www.btc126.com/uploads/allimg/200528/1035343245-1.png)

Gas usage and possible maximum fuel   -  sources: Delphi Digital

The total amount of ETH gas used is different from the transaction cost indicator in the BTC blockchain. On the Ethereum network, transaction and intelligent contract fees are determined by the amount and price of gas required, which allows fees to change dynamically and separated from Ethereum's price to a certain extent.

The amount of gas used in a given transaction depends on the computational complexity of the transaction. Gas prices, on the other hand, are chosen by the person executing the transaction and priced in Ethereum. The price is ultimately set by the miners, who accept or reject the deal based on the gas price.

USDT and DEX leads the market

While gas usage reached an all-time high, the number of transactions on the Ethereum blockchain is still far below  1,349,890, the transactions reached on January 4, 2018.

This means that most of the increase in total gas usage comes from the use of smart contracts, which are more complex and therefore require more gas.

According to ETH Gas Station, the majority of gas usage comes from USDT, of which used about $1.61 million of Ethereum Gas. This is more likely followed by DeFi and some scams and Ponzi schemes. USDT also leads in average gas prices used, at 35.5 Gwei.

After USDT, DEX appears to be in the lead in popularity. According to DappRadar, IDEX is the most used Dapp in terms of the number of transactions alone, while IDEX and Kyber are among the top three on the Ethereum network.

A recent survey also shows that DeFi's highest awareness and usage comes from DEX.


(https://cdn.pixabay.com/photo/2018/09/07/09/10/ethereum-3660218__340.jpg)


Higher transaction fees and gas restrictions

The increase in the use of the Ethereum network led to an increase in average transaction costs as miners preferred to deal with higher gas prices.

Total gas usage is limited by miners, which limit the size of the Ethereum blockchain by determining how many transactions are in a block.

Ethereum is likely to face network congestion soon due to several factors, including the current increase in the use of gas on the network and related block gas restrictions. If gas usage rises to the upper limit, users will have to compete with higher gas prices to execute trades and smart contracts.

Also, a sudden collapse in Ethereum prices can lead to higher fees and network congestion. According to a report by The Block, on March 12th, the average fee costs increased from $0.16 to $1.04.

When the usage is close to the limit set by miners, we may need to add the block gas limit. The most recent increase was in September 2019, when the block gas limit increased by 25%, from about 8 million to about 10 million.

However, the change will further increase the size of Ethereum's blockchain, which is already nearly 140 GB. Therefore, seeking a more efficient method of investment has become a new way out for many people.

Take BitOffer as an example, the biggest feature of BitOffer option is that no matter whether it is a bull market or a bear market, it has the opportunity to obtain up to a thousand times of excess income without any margin or handling fee. Bitoffer options provide sections of 2 minutes, 5 minutes, 15 minutes, and 1 hour. Besides, it is worth mentioning that the ETH option spot index is composed of the equivalent weights of 7 exchanges.

More info: https://www.bitoffer.com/en
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Andruha1993 on June 11, 2020, 03:19:33 PM
I also recently noticed that the price of gas began to rise, and this is sad news for me. But I think that soon everything will recover and the price of gas will fall and the price of Ethereum will rise.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: comer on June 11, 2020, 03:41:21 PM
Ethereum price is moving up, I think that's one reason why gas price is increasing because they are proportional. As long as it's not exceeding beyond acceptable range of charge, I think there would be no problem.

The more actively the coin moves the bigger the chances for the coin to move up and would not end up obsolete so I think it on a positive way rather than the other way around.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Seerge on June 11, 2020, 03:43:35 PM
I hope when the Ethereum blockchain usage is at its highest peak it will not cause an increase in gas prices that we need to send ethe-based coins or Ethereum tokens.  But I hope that increasing use of the Ethereum blockchain will make Ethereum prices go up high.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Cici Lee on June 12, 2020, 12:59:53 PM
Quote from: Seerge on June 11, 2020, 03:43:35 PM
I hope when the Ethereum blockchain usage is at its highest peak it will not cause an increase in gas prices that we need to send ethe-based coins or Ethereum tokens.  But I hope that increasing use of the Ethereum blockchain will make Ethereum prices go up high.

These are the dream come true (except for the miners)
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: ShadowCrypto on June 13, 2020, 02:53:28 AM
No, but the ETH 2.0 upgrade will make the price pump, in my opinion, if we want to buy we need to do it now and try to accumulate as much as possible to get staking rewards on ETH.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Rakin343 on June 13, 2020, 03:25:53 AM
Actually after upgrading the Ethereum block, i don't send my assets due to high gas block. It should be over 0.79$ all time in my wallet.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Hugo Barbosa on June 15, 2020, 02:58:30 PM
BitOffer options should be a nice choice at this point.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: TomPluz on June 21, 2020, 09:30:26 AM
Quote from: phabulu on June 13, 2020, 02:53:28 AM
No, but the ETH 2.0 upgrade will make the price pump, in my opinion, if we want to buy we need to do it now and try to accumulate as much as possible to get staking rewards on ETH.

Many Ethereum enthusiasts and holders are now looking forward to the effect that Ethereum 2.0 upgrade can be making on its price. Definitely, this can be so positive for the network and even if gas price can rise it does not matter to me.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Michael.sol on June 21, 2020, 10:19:56 AM
Quote from: Andruha1993 on June 11, 2020, 03:19:33 PM
I also recently noticed that the price of gas began to rise, and this is sad news for me. But I think that soon everything will recover and the price of gas will fall and the price of Ethereum will rise.
I also shocked to see gas is all time high at this moment . That's is only one reason behind dropping the price of Etherium . Hopefully Etherium recover in its price soon as possible .
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Tanimariya on June 21, 2020, 11:58:16 AM
The price of ETH will increase, as will the price of gas. This is the ultimate reality. But if everything goes to the gas price, then those who will do the transaction, what will they have. But I think its plan will change for the better. So I think there should be good thinking about gas price.
But I'm still not sure how eth 2.0 will work. So I'm optimistic that something good will happen.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: IyemRoker on June 22, 2020, 04:09:24 AM
Quote from: Hugo Barbosa on June 11, 2020, 02:16:08 PM
(http://www.btc126.com/uploads/allimg/200528/1035343245-1.png)
If we look for an increase in the price of Ethereum it will definitely probably go up in price because Ethereum is certainly used by many traders even though the price for GAs transactions are expensive.
I also believe this is the desire of the miners for their costs and this may be reasonable because the miners also want to get more profit from each transaction.

I believe this is still normal and still on the radar of reasonable prices for GAS costs.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: syedrasool2011 on August 03, 2020, 01:52:31 PM
Yes ETh price go tomuch high i think ETH PUMP 10K in few weeks Eth blockchain usage is at its highest peak it will not cause an increase in gas prices that we need to send ethe-based coins or Ethereum tokens.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: gulsoom2020 on August 04, 2020, 11:26:30 AM
yes ETH price will rice this month to much fast will cross 500$ just buy it hold it
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: hushpupppy on August 05, 2020, 06:53:23 PM
to some extents, i want to believe that the etherum prices as an excessive attempt by the etherum miners to earn more from transaction fees. I don't have concrete reasons but there are no honest opinions or reviews as to why the gas fees should exceed that of etherum. Still we have to adjust to the demands of the network fees if we want to send out our tokens.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: syedrasool2011 on August 05, 2020, 08:37:36 PM
wish i had big enough bags to turn on this money printer :'( Thanks Oracle for the great content and always keeping us up to date. Gonna get into ETH gold when the time is right for me
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Gurujebs on August 06, 2020, 12:10:58 AM
Quote from: syedrasool2011 on August 03, 2020, 01:52:31 PM
Yes ETh price go tomuch high i think ETH PUMP 10K in few weeks Eth blockchain usage is at its highest peak it will not cause an increase in gas prices that we need to send ethe-based coins or Ethereum tokens.
You spoke as if you know the future or perhaps you have been there before. ;D ;D ;D
Ethereum will grow but we have to see if it will be able to be scalable. This transaction fee is discouraging.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: syedrasool2011 on August 06, 2020, 07:04:47 PM
yes price will high soon wait for bitcoin pump
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: syedrasool2011 on August 07, 2020, 10:11:18 AM
yes price will hight to much this will good
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: syedrasool2011 on August 08, 2020, 07:57:12 PM
may be price high 1000$ this month hold your coins
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: syedrasool2011 on August 10, 2020, 11:41:39 AM
Major crypto's like ETH will get three zero's this decade.  ETH will eventually get to 250,000.  BTC will only get two zero's and be at 1 million at that point.  Other leading crypto's besides ETH will also get three zero's...BCH for example.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: TERMINO on August 12, 2020, 12:33:10 PM
Quote from: ShadowCrypto on June 13, 2020, 02:53:28 AM
No, but the ETH 2.0 upgrade will make the price pump, in my opinion, if we want to buy we need to do it now and try to accumulate as much as possible to get staking rewards on ETH.

Never mind the gas fee, right?
But the real deal here is do we have enough money now to do invest in ethereum?
Lucky are those who have enough money this time when bull run is triggering in the market. In just a month eth price could be double from now.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: yohananaomi on August 19, 2020, 11:01:07 AM
Quote from: TERMINO on August 12, 2020, 12:33:10 PM
Quote from: ShadowCrypto on June 13, 2020, 02:53:28 AM
No, but the ETH 2.0 upgrade will make the price pump, in my opinion, if we want to buy we need to do it now and try to accumulate as much as possible to get staking rewards on ETH.

Never mind the gas fee, right?
But the real deal here is do we have enough money now to do invest in ethereum?
Lucky are those who have enough money this time when bull run is triggering in the market. In just a month eth price could be double from now.

It is true that the progress and improvement of ethereum is very fast, even though it is not yet from the increasing pull of bitcoin if bitcoin increases. but once again to make ethereum investment currently need a lot of funds, I am trying to exchange from another altcoin to ethereum so that I can also enjoy the price increase, and hope that if enough will change it to bitcoin.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Jamie07 on August 19, 2020, 02:34:14 PM
The investors that bought at under $100 are really lucky tight now.  It is just a few months ago. The high gas fee is just the downside of using ethereum blockchain. I hope Vitalik's team can do something about it.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Coin63@ on August 21, 2020, 12:17:40 AM
Compared with bitcoin, Ethereum price is more pumped than bitcoin. Many investors recently gained investing Ethereum. Ethereum price more than double than before. So Ethereum investment is profitable than bitcoin.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: aiviaa485 on August 22, 2020, 03:11:20 AM
Quote from: gulsoom2020 on August 04, 2020, 11:26:30 AM
yes ETH price will rice this month to much fast will cross 500$ just buy it hold it
You agree that Ethereum will increase in price with your goal point being 1 Ethereum = 500 USD.
But did you realize this thread is talking about Etheruem's GAS transactions getting more expensive?

Don't you feel the loss due to expensive GAS transactions?
Are you immune to the fees that Ethereum accrues every day?
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Hugo Barbosa on September 15, 2020, 04:01:50 AM
The perspective of ETH is limitless
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Salman Hasan on September 15, 2020, 06:43:22 AM
No, but the ETH 2.0 upgrade will make the price pump, in my opinion, if we want to buy we need to do it now and try to accumulate as much as possible to get staking rewards on ETH.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Monster5 on September 15, 2020, 06:06:25 PM
 I am trying to exchange from another altcoin to ethereum so that I can also enjoy the price increase, and hope that if enough will change it to bitcoin.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Fivestar4everMVP on October 12, 2020, 07:51:00 PM
Sorry I couldn't read all of your post cus it's too long, but from experience, I did say that high network usage does not guarantee high price movement, but as we can all see, high network usage only guarantees higher transaction fees.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: damsix on October 15, 2020, 03:38:38 PM
Quote from: Fivestar4everMVP on October 12, 2020, 07:51:00 PM
-
It is true friends, Etheruem is now used a lot so that it costs less to be a burden to succeed in sending coins and the result is that the cost becomes expensive.
I also think like what the OP wrote but the fact is that now Ethereum has crossed the line and the price for the transaction fees is so choking and it's very unfair.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Btceth01 on October 15, 2020, 06:06:36 PM
As the days go by people are putting more and more importance on cryptocurrency. People all over the world have now started more transactions through this cryptocurrency.  The price of etherium will automatically increase when its value, dignity and amount of investment increase overnight and its demand increases constantly.  This cryptocurrency market fluctuates on human demand.  If the price of etherium goes to a high level, its gas fee will increase automatically.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: EthereumDev_ on October 16, 2020, 10:47:47 AM
yes of course the price of ethereum will rise to be expensive, just wait there will be new breakthroughs soon.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Blaze on October 19, 2020, 11:09:43 PM
Quote from: EthereumDev_ on October 16, 2020, 10:47:47 AM
yes of course the price of ethereum will rise to be expensive, just wait there will be new breakthroughs soon.
unfortunately no one knows when that happened
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Noverteno on October 20, 2020, 05:50:53 PM
Quote from: EthereumDev_ on October 16, 2020, 10:47:47 AM
yes of course the price of ethereum will rise to be expensive, just wait there will be new breakthroughs soon.
In the current situation, when the amount of use of the ethereum network has increased, this did not lead to an increase in the price of ethereum due to the fact that the network bandwidth was unable to process all transactions normally in time. This in turn led to increased transaction fees and user frustration. Many new projects did not use the ethereum platform for this reason, and some even switched to using other platforms.
However, of course, if scalability was able to cope with the increased number of transactions, then this should lead to an increase in the price of ethereum.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: vegasus on October 21, 2020, 11:17:37 PM
Well, probably. Recently ETH price itself can hit $394.67. It is a long run also, right? After waiting for a longer time in the crypto world. Finally, the price is increasing so significantly. Although the ETH2 is still failed, I am sure that it can be successful and brings ETH much better
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: dekafee79 on October 27, 2020, 01:34:39 PM
Quote from: vegasus on October 21, 2020, 11:17:37 PM
Well, probably. Recently ETH price itself can hit $394.67. It is a long run also, right? After waiting for a longer time in the crypto world. Finally, the price is increasing so significantly. Although the ETH2 is still failed, I am sure that it can be successful and brings ETH much better

Yes It is true mate, I agree with your opinion, Finally, the price is increasing so significantly. Ethereum price is $ 401 now, I believe it will rise again , Many people said It will continue until the middle next year, I hope It will be more stable.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Legion on October 29, 2020, 09:16:17 AM
Quote from: dekafee79 on October 27, 2020, 01:34:39 PM
Quote from: vegasus on October 21, 2020, 11:17:37 PM
Well, probably. Recently ETH price itself can hit $394.67. It is a long run also, right? After waiting for a longer time in the crypto world. Finally, the price is increasing so significantly. Although the ETH2 is still failed, I am sure that it can be successful and brings ETH much better

Yes It is true mate, I agree with your opinion, Finally, the price is increasing so significantly. Ethereum price is $ 401 now, I believe it will rise again , Many people said It will continue until the middle next year, I hope It will be more stable.
Unfortunately, Ethereum prices collapsed again and made many people disappointed again because it is difficult to raise the price.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: UNIVERSE on October 29, 2020, 10:41:54 PM
An increase of Etheruem is always expected, moreover, now the price is still likely stagnant. In this case, choosing to invest or trade ethereum is a good idea to earn more profits, ANd always the fees are high right now, we can consider it by expecting the rise of ETH price and also other altcoins
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: cryptopediabd on October 29, 2020, 11:03:14 PM
Major crypto's like ETH will get three zero's this decade. ETH will in the long run get to 250,000. BTC will as it were get two zero's and be at 1 million at that point.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: syedrasool2011 on November 02, 2020, 10:26:05 AM
ETH is good coin so strong this year eth will touch 2k .
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: EthereumDev_ on November 02, 2020, 02:29:43 PM
Quote from: syedrasool2011 on November 02, 2020, 10:26:05 AM
ETH is good coin so strong this year eth will touch 2k .
Of course the price of ethereum could reach its highest price but at the moment it might be delayed because seeing the conditions at the exchange market that is not good will make it difficult for ethereum to go up.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: masudginanjar on November 04, 2020, 09:14:54 AM
Quote from: syedrasool2011 on November 02, 2020, 10:26:05 AM
ETH is good coin so strong this year eth will touch 2k .
You are very enthusiastic and that is positive energy for all of us.
Ethereum can reach 2000 USD which is perfect and this is very possible because in 2017 also EThereum can reach 1300 USD.

Let's hope and hope our wishes can come true. Amen
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: yetti on November 04, 2020, 09:19:49 AM
Quote from: masudginanjar on November 04, 2020, 09:14:54 AM
Quote from: syedrasool2011 on November 02, 2020, 10:26:05 AM
ETH is good coin so strong this year eth will touch 2k .
You are very enthusiastic and that is positive energy for all of us.
Ethereum can reach 2000 USD which is perfect and this is very possible because in 2017 also EThereum can reach 1300 USD.

Let's hope and hope our wishes can come true. Amen
I think it is very difficult to make Ethereum price more expensive than before because I see there is still no full support, so it will make Ethereum difficult.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: naitik01 on November 21, 2020, 07:15:41 AM
Of course, the ethereum platform is being used in most of the YFI projects, which is also affecting the price of etherum and increasing prices. ethereum 2.0 is delayed or else the value of ethereum would have crossed $600 by now.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Falcon on November 21, 2020, 08:13:46 AM
Not impossible. Today the price of Ethereum reach $500 which could travel up to $550 or $600 if the transition of pump become continues and stable. All Time High of Ethereum could hit once again maybe before the end of December.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: I-Bit on November 21, 2020, 11:33:41 PM
The possibility of ETH to have increased price is always here. ETH is one of the best cryptocurrencies, it has very great experience to the down price. I think ETH was going to die in 2018 but now, it really struggles and rises signoficantly. A good coin will prove their good survival. And that is what I think about this worthy coin to have, Ethereum. let's see, the price is significantly going up, right?
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Cristiano on December 06, 2020, 10:52:49 AM
Quote from: Andruha1993 on June 11, 2020, 03:19:33 PM
I also recently noticed that the price of gas began to rise, and this is sad news for me. But I think that soon everything will recover and the price of gas will fall and the price of Ethereum will rise.
That's right I recently saw that the etherium gas fee has been increased a lot.  Which is why no one wants to sell tokens anymore.  I hope this will be corrected very soon.  If the correction does not happen to anyone then there will be a lot of big losses.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Sierra on December 07, 2020, 06:55:12 AM
giá GAS đả về lại ở mức trung bình mình cảm thấy rất hào hứng khi ETH 2.0 đả giúp nó trở lại bình thường . mong nó sẻ duy trì như vậy để giúp các nhà đầu tư cảm thấy hứng khởi và sẽ đầu tư nhiều hơn
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Jaydaomaker on December 07, 2020, 08:04:02 AM
GAS prices were cheap, but I did not expect the gas price to be prolonged so it took a large amount of time when having to trade often with partners.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Emircan on December 07, 2020, 09:16:04 AM
Non-Gas has risen sharply in recent times, fighting against investors as well as profits for other currencies. but today gas prices returned to normal, prompting investors to start investing again in Ethereum
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: gqinyot on December 11, 2020, 11:34:30 AM
Quote from: Jaydaomaker on December 07, 2020, 08:04:02 AM
GAS prices were cheap, but I did not expect the gas price to be prolonged so it took a large amount of time when having to trade often with partners.
Ethereum price has decreased recently but it promises to grow more strongly in the near future. Gas fee is still a headache for investors. It often costs high during trading hours more and low price during less trading time. I think gas fees should be the top priority of ETH 2.0
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: Astra on January 24, 2021, 06:22:02 AM
The large amount of gas from ethereum transactions or tokens issued on its platform has been the biggest problem on the ethereum network lately. This is primarily evidence of the great demand for ethereum and its tokens, which is why there is a large load on the network. These issues will be addressed in the ongoing implementation of Ethereum 2.0 improvements since December 1. We can only wait for this time.
Title: Re: Will ETH prices rise when its network usage at a historical high？
Post by: dodok on January 24, 2021, 01:41:37 PM
The price of gas began to rise when eth 2.0 was about to be launched after eth 2.0 was launched, the price of gas had not gone down, the price was even higher, this was due to the inefficient performance of eth 2.0 which was launched, I think gas prices will go down when the performance of eth 2.0 is efficient  .