Gas fees

[rdluffy]

Dex are very expensive in ethereum ecossytem

I see 2 reasons to use them. To buy coin which you can't buy in any cex (basically for free instead of 25 usd).

And the other reason is to have more privacy , and to avoid taxes...

Other than that, those eth dex are so expensive that it comes hard to use them.

Yes it is
You have to get the tokens first, let's say from a CEX, so you have to pay the withdraw
After that you have to approve > Swap
It's 3 txs and 1 contract - probably more than 10 USD right now in these 3 txs

With low amount of money, it's not worth, maybe if you'll deal with 10k or more it's worth

[bitterguy28]

Have you also noticed how high gas fees are lately? $4 for eth transfer and also $16 for other erc20 token transfer why?

ethereum gas fees are notoriously high all the time a few times where it is even higher than bitcoin’s transaction fees but if it is unusually high these days it is because of the market generally doing well

ethereum is seeing a lot of greens and its price has gone up so it is not surprising that the gas fees are also increasing due to the increased amount of  activities

[Gurujebs]

ethereum gas fees are notoriously high all the time a few times where it is even higher than bitcoin’s transaction fees but if it is unusually high these days it is because of the market generally doing well

ethereum is seeing a lot of greens and its price has gone up so it is not surprising that the gas fees are also increasing due to the increased amount of  activities

There is a demand in NFTs recently on open sea, and we know the damage NFTs done to ethereum network with fees in the last bull run, they are now in actions again which has resulted in increasing fees of these NFTs. You can imagine someone that is holding into NFTs they bought high and are just waiting for a perfect opportunity to offload them to another person so they can get back their money.

The best way to avoid ethereum fees is to play around with other layer 2, Arbitrum for example has a very low fees but I can't guarantee about the security of the bridges, a lot of hack has happened in the past and proves not to be safe.

[TomPluz]

I looked at the gastracker site and today the price is averaging $.7 which is to me not too high considering that Ethereum made some great moves lately and yes also not so low compared to other blockchain platforms in the market. Gas fees are always expected to go up when there is a good level of activities happening in the platform which can result into congestion. I remember that year when transaction cost in Ethereum was a high $50...what is happening now is already a bargain but still to be honest we need to lower them some more though there is nothing we can do but just shrug and sigh when there is a need to transfer anything under the Ethereum brand.

[vegasus]

I looked at the gastracker site and today the price is averaging $.7 which is to me not too high considering that Ethereum made some great moves lately and yes also not so low compared to other blockchain platforms in the market.

Wow, this is really high, or maybe the larger the number of tokens or coins also have a higher value. But indeed, because the more active the network id is, the higher the transaction fee on the Ethereum network, and so is the conversion, including high. Even when I saw the data at https://etherscan.io/gastracker, it was currently around 23 to 25gwei. It's quite high, even though when it was still bearish, it could be below 10 gwei. Moreover, if later the price of ETH continues to rise and reaches the real altcoin season, it will definitely rise again.

[bitmover]

I looked at the gastracker site and today the price is averaging $.7 which is to me not too high considering that Ethereum made some great moves lately and yes also not so low compared to other blockchain platforms in the market.

Wow, this is really high, or maybe the larger the number of tokens or coins also have a higher value. But indeed, because the more active the network id is, the higher the transaction fee on the Ethereum network, and so is the conversion, including high. Even when I saw the data at https://etherscan.io/gastracker, it was currently around 23 to 25gwei. It's quite high, even though when it was still bearish, it could be below 10 gwei. Moreover, if later the price of ETH continues to rise and reaches the real altcoin season, it will definitely rise again.

This is what a bull run does.

Now it is back to 14 Gwei, but this shows how the volatility is high.

As ethereum keeps climbing its way to the ATH (and it will reach it soon, my guess), everyone is buying/selling tokens and using DEX to try to get ready for the altseason (which usually happens after ethereum reaches ATH)

[vegasus]

Wow, this is really high, or maybe the larger the number of tokens or coins also have a higher value. But indeed, because the more active the network id is, the higher the transaction fee on the Ethereum network, and so is the conversion, including high. Even when I saw the data at https://etherscan.io/gastracker, it was currently around 23 to 25gwei. It's quite high, even though when it was still bearish, it could be below 10 gwei. Moreover, if later the price of ETH continues to rise and reaches the real altcoin season, it will definitely rise again.

This is what a bull run does.

Now it is back to 14 Gwei, but this shows how the volatility is high.

As ethereum keeps climbing its way to the ATH (and it will reach it soon, my guess), everyone is buying/selling tokens and using DEX to try to get ready for the altseason (which usually happens after ethereum reaches ATH)

Yes, gas fees also fluctuate very quickly. This gives us a notice when we are going to send tokens or coins, it is advisable to check the fee first, if it is still very high, try waiting a while, because it can change. And is there a certain time or estimated time every day when the gas fee on the Ethereum network increases quite high and or at an estimated time when the fee is quite normal? Because this usually also happens because of the crowd level on the network.

[LogitechMouse]

Have you also noticed how high gas fees are lately? $4 for eth transfer and also $16 for other erc20 token transfer why?

Why? Because it's Ethereum.
If you know, you know.

Right now, the gas fee on Ethereum is less than a dollar per transaction. This is the effect of the bull run. What's surprising though for me is that the gas fees are way lower than what it was during the last bull run a few years ago. As for Ethereum, it isn't surprising that gas fees are that high and in fact, what surprises me is those gas fees are low already compared to what the gas fees of Ethereum was a few years ago.

Anyway, I guess it would be better that if we will make a transaction on Ethereum blockchain, expect high gas fees or just use a Layer 2 project to transact.

[rdluffy]

Wow, today I tried to transfer some EIGEN tokens, worthing 30 USD only, and the fees was 9 USD 

I'll wait the weekend, at night to try to transfer again, at least 2 USD maximum
It's not hard to know why most users migrate to L2s and SOL...

[Mia Chloe]

Wow, today I tried to transfer some EIGEN tokens, worthing 30 USD only, and the fees was 9 USD 
I'll wait the weekend, at night to try to transfer again, at least 2 USD maximum
It's not hard to know why most users migrate to L2s and SOL...

Gas fees can be quite outrageous sometimes especially on the ethereum network and in fact most times when transact in USDT , I make use of the Tron network and i don't think I've ever used the ERC20 Ethereum network because of how high gas fees usually are. A couple of months back when I attempted calculating I found out I had to spend approximately $8 just to be able to send roughly $40.

That's huge considering the fact that I'll literally be spending 20% extra on fees for such a small amount. Fees are one reason why I like the bitcoin network alot because you have the freedom up to choosing on point what you wish to spend on fees.

[joniboini]

Fees are one reason why I like the bitcoin network alot because you have the freedom up to choosing on point what you wish to spend on fees.

Last time I used ETH you could also choose how much you pay on gas fees, granted it will affect how slow your transaction will be confirmed. I don't think that's any different with Bitcoin. If the network is congested you'd have to pay a lot of money if you want fast confirmation too. But it's worse on ETH when you need to account for smart contract fees, bridging, token transactions, etc. The competition will be higher and waiting is a luxury for most users. CMIIW.

[rdluffy]

Fees are one reason why I like the bitcoin network alot because you have the freedom up to choosing on point what you wish to spend on fees.

Last time I used ETH you could also choose how much you pay on gas fees, granted it will affect how slow your transaction will be confirmed. I don't think that's any different with Bitcoin. If the network is congested you'd have to pay a lot of money if you want fast confirmation too. But it's worse on ETH when you need to account for smart contract fees, bridging, token transactions, etc. The competition will be higher and waiting is a luxury for most users. CMIIW.

Exactly, you can adjust in Metamask
Like in this example:


Source

Or you can even adjust manually, but I recommend some knowledge to adjust manually
Sometimes the transaction will not confirm and you have to do another tx, with higher fee to cancel the previous one

[bitmover]

Wow, today I tried to transfer some EIGEN tokens, worthing 30 USD only, and the fees was 9 USD 

I'll wait the weekend, at night to try to transfer again, at least 2 USD maximum
It's not hard to know why most users migrate to L2s and SOL...

I have some ETH stuck at scroll layer, about $6,5

It costs now $ 3 to bridge to ETH! WTF!!!

I wasted some money trying to chasing airdrops..

[rdluffy]

Wow, today I tried to transfer some EIGEN tokens, worthing 30 USD only, and the fees was 9 USD 

I'll wait the weekend, at night to try to transfer again, at least 2 USD maximum
It's not hard to know why most users migrate to L2s and SOL...

I have some ETH stuck at scroll layer, about $6,5

It costs now $ 3 to bridge to ETH! WTF!!!

I wasted some money trying to chasing airdrops..

Hehehe, I have ETH in more than 20 networks 
You don't need to bridge to ETH to get back your coins
You can bridge to another L2, for example, Arbitrum, Base, Polygon etc and then transfer to your CEX

Usually I use https://jumper.exchange/pt

And Binance also accepts deposits from Scroll 

So you have 2 good options to avoid ETH fees

[bitmover]

You don't need to bridge to ETH to get back your coins
You can bridge to another L2, for example, Arbitrum, Base, Polygon etc and then transfer to your CEX

Usually I use https://jumper.exchange/pt

And Binance also accepts deposits from Scroll 

So you have 2 good options to avoid ETH fees

Thanks, I didn't know about these options.

I will just send my coins to binance then . I will take a look on jumper, of possible I will convert them to solana or pol