ETH high gas fee

[Kazkar]

I thought about what a high price for gas you are talking about, switched to etherscan and was very surprised. Recommend 121. What?

[1714772888]

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[1714772888]

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[1714772888]

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[Hasan986]

When will this madness end?
Who is willing to pay such amounts for a transaction?

As Gwei is much less than before. But the dollar has risen a lot. It is never desirable for a real trader. Small investors can't afford to trade so much. It needs to be remedied soon. What is much less in the Bnb chain. Many investors are trading in Bep20 excluding Erc20.

[Psynthax]

As Gwei is much less than before. But the dollar has risen a lot. It is never desirable for a real trader. Small investors can't afford to trade so much. It needs to be remedied soon. What is much less in the Bnb chain. Many investors are trading in Bep20 excluding Erc20.

This is true, even if the gwei needed is much less but the price of each gwei has risen and thats why the price of the fee is still very high or even higher than before. If Ethereum is like BSC it will be better, but I think the fee will not reducing anytime soon, thats why at the meantime BSC is still better because its a lot cheaper and project like NFT that need cheap fee will prefer BSC than Ethereum. Maybe in the future the fee in Ethereum can be fixed but we don't know when.

[ilovefeetsmell]

That is normal because nothing is free in the real world or in the crypto world, high gas costs will certainly facilitate everyone's transactions and of course that is a risk that we must accept, if we talk about when the high gas costs will end, of course no one will You know, because in the future, gas costs may go up or down.

Higher gas always depends on the price of our crypto so the best decision you can do is try to balance between the gas fee and your earnings. It is not always the gas fee, you can also considered your earnings when you are trying to invest or trade your assets.

If you think, it is not worth to trade so think twice and always remember that in crypto, there's no easy money. All of us need to pay for our transaction.

[livingfree]

This is crazy haha!

I'm trying to make a transaction and it's requiring me a totally high fee including the platform fee where I'm about to withdraw my tokens.

I don't know until when the fees will drop but I'm not going to make any transaction as of the moment.

[Veter2000]

That is normal because nothing is free in the real world or in the crypto world, high gas costs will certainly facilitate everyone's transactions and of course that is a risk that we must accept, if we talk about when the high gas costs will end, of course no one will You know, because in the future, gas costs may go up or down.

What is normal in today's gas prices on Ethereum blockchain? Uniswap suggested that today I approve a token for $ 20, the fact that binance smart chain  costs less than a dollar and this is not swap fee itself. It turns out that those who conduct small transactions should pay more for the decentralization of the ETH network. That is, Ethereum network becomes a blockchain for the rich.

[ILuckyGuyI]

That is normal because nothing is free in the real world or in the crypto world, high gas costs will certainly facilitate everyone's transactions and of course that is a risk that we must accept, if we talk about when the high gas costs will end, of course no one will You know, because in the future, gas costs may go up or down.

Nothing is free in this world, it is true. However, high gas fees situation is not a normal thing I think. Because we, the investors deserve low fees while we are making transactions. When there are high fees, it is for the benefit of cryptocurrency miners. Investors are really fed up with this problem and demand a solution from the developers. ETH developers already made a statement like they would be working on this. We have no other option rather than waiting for it.

[bakasabo]

Ethereum transaction fees are back to being high again and BSC cant handle it. When did Cardano planned to become an alternative to Ethereum?

This is redicilous situation with Ethereum. Low class cant afford to make a transaction. Bounty hunters can forget about rewards and small investors can forget about entering a project. And there is no solution to this. Great!

[swogerino]

Ethereum transaction fees are back to being high again and BSC cant handle it. When did Cardano planned to become an alternative to Ethereum?

This is redicilous situation with Ethereum. Low class cant afford to make a transaction. Bounty hunters can forget about rewards and small investors can forget about entering a project. And there is no solution to this. Great!

They did so to discourage mining by implementing the London hard fork as they are planning to move to PoS later in Ethereum 2.0 as the developers of Ethereum have said.This is having a little impact over that,it is turning away small investors to let stay only the big ones who most probably will be backers of the 2.0 PoS mechanism later.Personally I will switch to mining other coins when that happens but for now the best you can do is hunt the lowest fees which during the last few days have been 4 dollars or 50-60 Gwei in transaction fees.

[Pulsar77]

Whenever the market is on the rise due to a rally or bull run, this absolutely happens. It is like there is no way out of this. People start demanding cryptocurrencies highly, they buy Ethereum and make transactions at a high rate. As a result, the network starts slowing down and here we go! There are high fees as a result of all this. They must do something about this frustrating problem. There must be a way to get rid of these high fees.

[Princejebs]

Ethereum transaction fees are back to being high again and BSC cant handle it. When did Cardano planned to become an alternative to Ethereum?

This is redicilous situation with Ethereum. Low class cant afford to make a transaction. Bounty hunters can forget about rewards and small investors can forget about entering a project. And there is no solution to this. Great!

I'm getting discouraged anytime I come a Ethereum related contract because the first thing that always comes to my mind is gas fee, that thing is no longer funny.
I mean how do I swap a $20 token with a fee of $15 approval fee and $25 transaction fee, that sickening and wouldn't end well for me.
It's high time small project start making alternative to bsc but I learn Binance control all the nodes that's why developers avoid them.

[CryptoBuds]

I can't transfer my NFT collectible for high gas fees. I got some NFT tokens, but it's pretty ridiculous that the gas fee is exorbitant from the value of the token.
Recently I figured out that nowadays it would be impossible to sell NFT tokens on OpenSea even if you have good valued tokens.
for $200 worth of NFT tokens will cost you $300 network fees in OpenSea when you post your item to the listing, which means you have to pay an extra $100 from your pocket to sell your token .
I don't understand how these NFT projects can survive in the market even with such high gas fees in ethereum blockchain.

[G-Money7777]

One of the Main Reasons Opacity is looking to switch Chains.

Announced Harmony/Polygon Bridging.

Great Team, Great CEO, even Greater Potential to 40-60x

[poodle63]

I can't transfer my NFT collectible for high gas fees. I got some NFT tokens, but it's pretty ridiculous that the gas fee is exorbitant from the value of the token.

The hype was so high. People are rushing various NFT platforms at the same time. Remember when each of NFT transaction needs a few transactions in total for on tx. People are also putting more fees to prioritize their transaction to be included in the next block.

Recently I figured out that nowadays it would be impossible to sell NFT tokens on OpenSea even if you have good valued tokens.
for $200 worth of NFT tokens will cost you $300 network fees in OpenSea when you post your item to the listing, which means you have to pay an extra $100 from your pocket to sell your token .
I don't understand how these NFT projects can survive in the market even with such high gas fees in ethereum blockchain.

That's why so many platforms deciding to use second layer solution instead of still use ethereum.
Even like that, there are still many people selling NFT even if the fee required for NFT is really high, I think its because most of NFT owners are rich people. The big traders didn't care so much about how much they pay for the fees. that makes little shrimp feel depressed to use ethereum chain
Like those who own cryptopunk it was priced such a high amount and many of people still trying to own one of it. If they can pay for expensive cryptopunk NFT i think they can afford the fee even if it cost hundred dollars.

[Sithara007]

I can't transfer my NFT collectible for high gas fees. I got some NFT tokens, but it's pretty ridiculous that the gas fee is exorbitant from the value of the token.
Recently I figured out that nowadays it would be impossible to sell NFT tokens on OpenSea even if you have good valued tokens.
for $200 worth of NFT tokens will cost you $300 network fees in OpenSea when you post your item to the listing, which means you have to pay an extra $100 from your pocket to sell your token .
I don't understand how these NFT projects can survive in the market even with such high gas fees in ethereum blockchain.

You need to take a decision. If you have $200 worth of tokens and of the fee is like $20 or $30, then I would recommend you to transfer them and book profit. Because these tokens are very volatile, and you never know when they will go down. So waiting for lower transaction fee may result in huge losses. But if the transaction fee is extremely high (you mentioned $300), then obviously it makes little sense to move these tokens. It is just crazy, isn't it? $300 in fee for a single transaction, and still there are guys who would defend the ERC-20 chain.

[Xampeuu]

Whenever the market is on the rise due to a rally or bull run, this absolutely happens. It is like there is no way out of this. People start demanding cryptocurrencies highly, they buy Ethereum and make transactions at a high rate. As a result, the network starts slowing down and here we go! There are high fees as a result of all this. They must do something about this frustrating problem. There must be a way to get rid of these high fees.

It's been there just like how you said it, every time that the market pumped up expect that
the  transaction fees also increase.

Small traders/hodlers unable to process their trade due to this problem, tokens are stuck again
since no one in good set of minds that will throw away money for getting nothing.

still hoping for a longer solution for this concern, high fees needs to solve in anyhow.

We hope that all gas fees will go down soon, don't we want mass adoption of cryptocurrency? Therefore, newcomers with small capital will of course take into account the expensive gas costs, because their investment is reduced only because of transfer fees. I hope this problem can be solved soon

[Veter2000]

Whenever the market is on the rise due to a rally or bull run, this absolutely happens. It is like there is no way out of this. People start demanding cryptocurrencies highly, they buy Ethereum and make transactions at a high rate. As a result, the network starts slowing down and here we go! There are high fees as a result of all this. They must do something about this frustrating problem. There must be a way to get rid of these high fees.

It's been there just like how you said it, every time that the market pumped up expect that
the  transaction fees also increase.

Small traders/hodlers unable to process their trade due to this problem, tokens are stuck again
since no one in good set of minds that will throw away money for getting nothing.

still hoping for a longer solution for this concern, high fees needs to solve in anyhow.

We hope that all gas fees will go down soon, don't we want mass adoption of cryptocurrency? Therefore, newcomers with small capital will of course take into account the expensive gas costs, because their investment is reduced only because of transfer fees. I hope this problem can be solved soon

Unfortunately, it is not worth waiting for a drop in transaction prices on the Ethereum blockchain soon. Prices will drop when the ETH 2.0 blockchain is fully operational and after the merger. Vitalik Buterin openly warned about this back in the winter of 2020. A merger should be expected no earlier than in 5-8 months.

[Bikan]

Needs to consider employing L2 Rollup options such as OMG, zksync, or Loopring, among others. Apparently Vitalik is in favor of it, and ETH 2.0 expansion will be dependent on each other.

[CryptoBuds]

I can't transfer my NFT collectible for high gas fees. I got some NFT tokens, but it's pretty ridiculous that the gas fee is exorbitant from the value of the token.

The hype was so high. People are rushing various NFT platforms at the same time. Remember when each of NFT transaction needs a few transactions in total for on tx. People are also putting more fees to prioritize their transaction to be included in the next block.

Exactly, even if I place an order by considering the gas fee there is no guarantee that the token will be sold instant, It seems normal trading strategy would be hampered for this reason.
Doin trading with NFT token is a long term producer but you know the market is too much volatile, holding long-term is risky though.

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That's why so many platforms deciding to use second layer solution instead of still use ethereum.
Even like that, there are still many people selling NFT even if the fee required for NFT is really high, I think its because most of NFT owners are rich people. The big traders didn't care so much about how much they pay for the fees. that makes little shrimp feel depressed to use ethereum chain
Like those who own cryptopunk it was priced such a high amount and many of people still trying to own one of it. If they can pay for expensive cryptopunk NFT i think they can afford the fee even if it cost hundred dollars.

Buyer can bear excessive fees with no problem, but what about the seller? Suppose, cryptopunk token's last selling price is 100 USD, you have one token and you want to sell. If you find the network fee is 200usd you have to set the selling price at 100+200=300usd if you don't want to sell at loss. If the buyer wants to bear that excessive 200usd then good, but what would happen if no buyer fell interested to buy at that high price? The risk is your 200usd will be voided some days later when your listing schedule will expire. If your listing is canceled due to excessive time you will lose 200usd network fees + token also not sold.

[tabas]

Currently ethereum is not very accessible to small investors, I hope that ETH 2.0 changes things and in the meantime projects like Solana are gaining ground.

We've been hoping with all of those updates to lessen and make the fees affordable. The London hard fork seems to be effective with its effect to increase the price of it.
But, it's not helpful at all as it increases the price then it has also increased the fees. What's the next solution? 2.0, but when?