Ethereum fees are crazy...

[Punk4000]

Sorry if this not the proper place to post this and sorry if i feel little mad about it, but ALMOST all wallets ask for crazy ETH fees that are hard to cover, any hope that in  a near future can be lowered?...

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[int03h]

So crazy at the cost of one transaction, it's worse than in 2017. The DEFI craze won't stop here, it will continue for the next few months. Perhaps in a few months, the cost of ethereum will reach $ 100.
This absurdity needs to be stopped now, trader drowning in costs.

[cryptothreads]

So crazy at the cost of one transaction, it's worse than in 2017. The DEFI craze won't stop here, it will continue for the next few months. Perhaps in a few months, the cost of ethereum will reach $ 100.
This absurdity needs to be stopped now, trader drowning in costs.

If you are an investor in a DeFi project, there will certainly be times when you need to set the gas up to 1000 to be able to sell that coin.

Really, this is crazy, but certainly the profits from DeFi projects bring investors a lot of profits. It can be seen that the current transactions are concentrated in Uniswap and the transaction fees will certainly increase a lot.

[Yogee]

It's not surprising after Uniswap dropped their tokens. I just checked gas station and it's 160 gwei for standard speed so that's probably around $2. That's considered as reasonable compared to the $5 or $20 fees before. Crazy that they (ethgasstation) have to change how they classify the speed. It's now "Standard", "Fast", and "Trader" with trader being the highest. "Low" was removed.

If you are actively trading on Uniswap and doesn't want to pay for the high gas fees, you may want to check this topic https://bitcointalk.org/index.php?topic=5274294.msg55153651#msg55153651

[jambul_kribo]

So crazy at the cost of one transaction, it's worse than in 2017. The DEFI craze won't stop here, it will continue for the next few months. Perhaps in a few months, the cost of ethereum will reach $ 100.
This absurdity needs to be stopped now, trader drowning in costs.

if this condition happen maybe its good time to save ethereum for long term. demand for gas fee will still high if defi project still be trend in cryptocurrency market and ofcourse people will buy more eth for their transaction.

[masphie]

Yes of course, GAS fee make me crazy....
But, if we have token or coin with high values maybe this fee its ok.

And i don't know why this fee very high right know. Maybe anyone can explain me ?

[Jackl87]

Yeah seems to be that in the last few weeks we rarely had a few days with normal fees.
First the crazy defi hype with all the yield farming which created a lot of traffic in the ETH network and now the Airdrop of uniswap which slows down everything.
Maybe when everyone claimed their uni then we can go back to normal. It sucks to pay a 20$ fee for a 100$ trade  

[crwth]

You know that automatically computed, right? With the busyness of The network transacting different tokens at the same time. Some of DEX’s Also depositing or probably lending their assets adds to the network transactions. We have reached a higher transaction recently according to this article [1]

It also states in the article that it’s part of the decentralized financing craze. Recently, I have seen posts about Uniswap Receiving their tokens that are equivalent to a large amount of money.

Don’t worry, OP. The transaction fee would decrease as the network becomes less busy. If you need the transaction right away, then you have no other choice, but if you can wait, I think saving a few bucks would be great.


[1] - https://www.coindesk.com/decentralized-finance-frenzy-drives-ethereum-transaction-fees-to-all-time-highs

[wanted sliter]

So crazy at the cost of one transaction, it's worse than in 2017. The DEFI craze won't stop here, it will continue for the next few months. Perhaps in a few months, the cost of ethereum will reach $ 100.
This absurdity needs to be stopped now, trader drowning in costs.

If you are an investor in a DeFi project, there will certainly be times when you need to set the gas up to 1000 to be able to sell that coin.

Really, this is crazy, but certainly the profits from DeFi projects bring investors a lot of profits. It can be seen that the current transactions are concentrated in Uniswap and the transaction fees will certainly increase a lot.

No If here. DEFI is hurting people who don't invest in them, who simply transfer their money, transfer their tokens between wallets.
I'm looking at where the cost will go. I'm not interested in projects with an anonymous dev team and value manipulation games like DEFI. Most projects are ambiguous and the markets and costs are insane now.

[Kotone]

Sorry if this not the proper place to post this and sorry if i feel little mad about it, but ALMOST all wallets ask for crazy ETH fees that are hard to cover, any hope that in  a near future can be lowered?...

This will cool down soon. Its just many have using eth network especially during the claiming of uniswap airdrop. I dont know but the impact it created is so huge. I feel pity to everyone that should pay a huge transaction fee to trade. It seems trading on uniswap is not for everybody anymore and only big traders can spare huge fees.

[makishart]

Sorry if this not the proper place to post this and sorry if i feel little mad about it, but ALMOST all wallets ask for crazy ETH fees that are hard to cover, any hope that in  a near future can be lowered?...

It may happen next year and you should not expect this to happen very soon as this trend will be sustain until the next year. The come of UNI token has already made ethereum network goes wild as the price of UNI has made everyone who has already received it must try to deal with big fees to send and sell their coins to the market.

This problem will never be recovered.
Ethereum 2.0 is a long way to go.

[samcrypto]

Sorry if this not the proper place to post this and sorry if i feel little mad about it, but ALMOST all wallets ask for crazy ETH fees that are hard to cover, any hope that in  a near future can be lowered?...

It may happen next year and you should not expect this to happen very soon as this trend will be sustain until the next year. The come of UNI token has already made ethereum network goes wild as the price of UNI has made everyone who has already received it must try to deal with big fees to send and sell their coins to the market.

This problem will never be recovered.
Ethereum 2.0 is a long way to go.

We are expecting a lot from the update of ETH and they must work with the fees or else we will suffer big in the future.

$100 fees per transaction is possible if the craze on DeFi projects continues, people have no choice but to deal with it and do their best so they can earn profit with their investments to cover up all the fees. This is crazy a lot worst compare before, if you're transacting with small amounts better to save that for later and look for alternative options available in your place, like a p2p transactions.

[jawakoak]

Fees crazy and so many failed/pending transaction when you input your gas below 700 gwei, i dont think its not good for future of DEFI because newbie like me dont have ether to cover transaction in Uniswap

[adaseb]

Right now the fees are pretty much back to normal according to,

https://etherscan.io/gastracker

You can do a ~100 Gwei ($1 per transaction) which will confirm within 10 minutes or so. However I know that earlier this week this figure was up to like $7-8 per transaction. Generally whenever there is some craze like the UTI token distribution the fees will always be very high. My advice is just to wait it out unless its an emergency, just send it anyways and when the fees lower it should confirm.

This isn't the first time this happened. Last month we had this issue with the DeFI transactions before the Sushi blowup and even last year or so with the CryptoKitties or whatever it was called. Hence this is why scaling is very important for ETH and BTC.

[Reid]

IIRC, it had been 3 weeks or more.
It will come back to normal. It should be.

The traffic is causing a lot of trouble thanks to DeFi.
Some buyers want a cheaper tx fee but the problem is it will be stuck there.
This always happen when something is being hyped. Same thing happened back with ICO days.

[sempak]

Haven't been in Ethereum lately since i'm on a hold. We are now seeing the effects of the DeFi hype well not quite sure how high will it get if i remember this is not the only time the transaction of Ethereum went crazy let's just wait for some time and let's see if this will continue to increase because of the hype or will be back to normal again.

[Cnut237]

And i don't know why this fee very high right know. Maybe anyone can explain me ?

Gas prices increase when the network gets really busy. In a sense, high gas means ETH is doing well. It's certainly better than no-one using the network. The reason the network is busy is a DeFi frenzy - everyone wants in.

[Oppo57]

At present there are too many transactions in ETH wallet which is very sad for us. We are facing many problems in our transaction due to extra fees. I still have a few coins pending due to additional transaction fees. Which is why I think I have suffered a lot of losses. So I want an ETH transaction to be free as before.

[Zazzu]

Yesterday I wanted to convert around 1800 Lina token to Ethereum through uniswap and the swap fee on uni swap was about 0.1 ETh 

I really avoid using uniswap , the fee of swapping in it is too hight , that is why I sent to some CEX and changed it there to Ethereum .

[Akiko]

Sorry if this not the proper place to post this and sorry if i feel little mad about it, but ALMOST all wallets ask for crazy ETH fees that are hard to cover, any hope that in  a near future can be lowered?...

Yes it can be lowered again someday but no body can answer when, its always depend on the situation . as long as ETH is still congested  the fee asked is always higher it also depend on the upcoming ETH 2.0 if there are plan to upgrade the system so it will have lower cost and fast transaction.


This is not new it happen already way back 2017 when there is hype with a game called crypto kitty we are also experiencing  the same problem in transaction .