ETH high gas fee

[MishaSER]

Are ETH gas fees actually high right now?

Etherscan.io show following prices right now. I think everyone is able to spend $2-7 for a transaction right now, specially compared to what they were 2-3 weeks ago. I know that someone will say right now "but look on uniswap fees, they are high as usually". I would say, that these fees are relatively normal. Uniswap was not created imo for users that will use platform to sell or buy $50 worth tokens. You do not usually trade with small amount on uniswap. And those who trade there, can afford to pay $30-50 for a single transaction.

I don't think Uniswap goal is to cut off people who can't pay $ 30 per transaction. Do you think they knew that this would happen in the future? I don’t know how it works, but there are tokens for which gas fees are low. For example, CTSI $ 6 for a swap and USDT $ 30 for a swap, HEX is also $ 30 for a swap. On what it depends, I do not understand.

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[Luffygroove]

back then in 2017, I still be able to experience using 2 gwei to send my eth but now wow I can't believe it, even for fees you must spend tens of dollars, multiple times more. I was shocked cause I just got back after 3 years hiatus. Many developers started to migrate to BSC or other chain that much more cheaper in fees. This makes me sad cause honestly, ETH was my first love lol. but I read somewhere, some project planned to use Matic network, which is a leading Layer 2 scaling solution for Ethereum, anyone ever heard about this?.

[ttcsalam]

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

its a very patatic matter for all investor and specially bounty hunter.so we can say eth should reduce Gass fee.cause maximum hunter face a lots of problem for gas fee.i have some token on my mew but i am unable to transfer for gas fee .maximum hunter face this problem so.what can we do.   

[mekar sari]

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

its a very patatic matter for all investor and specially bounty hunter.so we can say eth should reduce Gass fee.cause maximum hunter face a lots of problem for gas fee.i have some token on my mew but i am unable to transfer for gas fee .maximum hunter face this problem so.what can we do.   

for now all we can do is be patient because there is no solution about this problem, I personally want to sell some of the coins that I get from the bounty
but because of the very high price of GAS ethereum keeps me from selling it stay patient and wait

[Abiky]

This is the reality right now of Ethereum. As the price shoots up, so as the gas fees. Now we see the slow decline of Ethereum’s price and gas fees is because of those DeFi projects pulling out their liquidity and funds and switching off to Binance Smart Chain. When it comes to BSC, the fees are very low and projects can save money from exorbitant gas fees. The only concern right now with Binance Smart Chain is that they’re centralized, because they control all of the nodes and can lock-up or freeze accounts if some circumstances happen.

Exactly. That's the way it works. The higher the network congestion, the higher the gas fee will be. The situation becomes worse when price per coin becomes higher on the market. Many projects have started to notice the negative effects of high fees, leading them to look for other options in the crypto/Blockchain space. The recent surge in Binance Coin's popularity, tells us that people are getting tired of ETH's high fees. Devs must act quickly by adopting PoS ASAP, or ETH will lose market dominance faster than you could've ever imagined. It's all a matter of staying ahead of the game in order to become successful in the long run.

Despite many projects benefits relative to Ethereum, they're missing the most important thing to keep Blockchain tech running as intended. And that is decentralization. ETH wins in this regard, as most smart contract platforms often sacrifice decentralization for scalability. It's why I think ETH will remain in the lead for a long time even with high fees and slow transaction confirmation times in play. Fortunately, gas fees have declined considerably as some projects made the switch to other blockchain networks. Once ETH 2.0 goes full speed ahead, we'll be able to enjoy cheaper fees and faster transaction confirmation times on the Ethereum blockchain. But we have to be patient as good things don't happen overnight. Just my thoughts

[soenan]

Ethereum fees skyrocketed to their highest levels due to the decentralized financial bubble (Defi). Smart contracts that support the Defi protocol typically require the execution of multiple Ethereum transactions exacerbating network congestion. therefore requiring a transaction fee of 357 Gwei is ridiculous. This will be a major barrier to progress if someone on the team doesn't address this.

[carrie_white]

Of course the ethereum gas fee price will be very high, because the market movement is very heavy, so it requires more gas to be able to speed up the transaction process, actually this is a good thing in the crypto market

[Abiky]

Ethereum fees skyrocketed to their highest levels due to the decentralized financial bubble (Defi). Smart contracts that support the Defi protocol typically require the execution of multiple Ethereum transactions exacerbating network congestion. therefore requiring a transaction fee of 357 Gwei is ridiculous. This will be a major barrier to progress if someone on the team doesn't address this.

That's certainly true, mate. Increased demand for ETH will only make fees higher in the short term. That's largely because the ETH blockchain has a limited transaction capacity. Developers are already working on a solution for this. It'll take quite some time before network upgrades are implemented for people to enjoy low fees and blazing-fast transactions. As long as gas fees remain high, it wouldn't be practical to use "De-Fi" on the ETH blockchain. Only the wealthy will be able to afford paying double-digits in price per transactions.

If you're eager to save on fees, then I'd suggest you look elsewhere. Alternative smart contract platforms such as Polkadot, Binance Smart Chain, and Cardano have ridiculously low fees and blazing-fast transaction confirmation times. In EOS, transactions are completely free, making "De-Fi" extremely practical to the average person. There needs to be more dApp diversity for people to have a choice from one chain to another. Unfortunately, most popular "De-Fi" apps are available on the ETH blockchain. Competing chains have a very limited number of dApps, making them somewhat useless to everyday people. As long as ETH has the biggest ecosystem of dApps, tokens, and services around it, people will be forced to use ETH even with high fees and slow transaction confirmation times. The ETH 2.0 upgrade gives us some hope, but changes on the blockchain won't happen overnight. It's a process that could take from months to years before ETH becomes a highly-scalable PoS blockchain network.

Nonetheless, I believe that fees won't stay high forever. Sometime in the future, fees will decline as new upgrades are "rolled out" by developers. We just have to be patient in order to achieve great results in the long run. As I've said before, there are many alternative smart contract platforms which are cheaper and faster to use than ETH itself. We can use them while developers work on making ETH great again. As long as the Ethereum blockchain remains decentralized, nothing else matters. Just my thoughts

[Elite70]

Eth mainnet gas fees are so high and been really a pain in the ass for everyone. Luckily we have other options like xDAI chain,why go for high fees if we can farm and stake on xdai chain. Just want to share how I earn great rewards farming XGT/xDAI on xdai chain with less than $0.01/tx. On Honeyswap. You may want to check it here:

https://Xion.finance

https://info.honeyswap.org/pair/0xB2B15DaE735e52CA0902824570Bd2458d78672f8

[Dewajuna09]

Ethereum needs to upgrade transaction fee.be pretend fee going on not for a long time, because fee always  changable, the gas price will return to its place and become cheap again.

Very high eth gas fees make traders and token companies think twice about transactions. if this situation continues, many new projects will use other platforms than eth to avoid high eth gas fees

[dhemasm]

Very high eth gas fees make traders and token companies think twice about transactions. if this situation continues, many new projects will use other platforms than eth to avoid high eth gas fees

It's already, Binance Smart Chain (BSC) gain it's momentum be becoming Ethereum Alternative but the only negative things from BSC was Centralized (For Now) It's forked from Ethereum and compatible with EVM so basically it's 1:1 with ethereum but wih PoS Concept, Tons of project especially DeFi and NFT was already using BSC. For Ethereum i suppose we will see significant impact after Ethereum 2.0 Released, Well for now the best thing to do was wait till the gas price low (UTC Midnight), Use Layer-2 Exchange (1Inch, etc) Or use other chain.

[CAPT.DEADPOOL]

There will be no end in this situation I guess. High gas fees of Eth is the main reason why I became a fan of Tron, having no fees just Energy and Bandwith is enough to make a transaction. If it is only possible to transfer erc20 tokens to trc20 etc. tokens, maybe, cost of fees widthrawing coins won't hurt us a lot. Is that even possible? Quite laughing at myself actually.  

Tron and Bnb also know that it is one of the lowest gas fees when it comes to transactions, which is why more people now use it to transfer their coins to their other wallets. There is a possibility that the gas fee of ethereum will increase if it increases even more. yet the price of ethereum.

[Cornia]

There is a possibility that the gas fee of ethereum will increase if it increases even more. yet the price of ethereum.

May be you are right that gas price may increase further if the price of ethereum increases. However, at present the gas fee of ethereum has been reduced a little. A few days ago, no transaction of ethereum could be done below $10. But now ethereum transaction is going to be done at $2-4. This fee is much higher than other blockchains. It is rumored that Ethereum's gas fee will be reduced in July.

[TWW]

There will be no end in this situation I guess. High gas fees of Eth is the main reason why I became a fan of Tron, having no fees just Energy and Bandwith is enough to make a transaction. If it is only possible to transfer erc20 tokens to trc20 etc. tokens, maybe, cost of fees widthrawing coins won't hurt us a lot. Is that even possible? Quite laughing at myself actually.  

Tron and Bnb also know that it is one of the lowest gas fees when it comes to transactions, which is why more people now use it to transfer their coins to their other wallets. There is a possibility that the gas fee of ethereum will increase if it increases even more. yet the price of ethereum.

transactions on the ethereum chain are still busy. not to mention the price which is still quite expensive at this time. that's what makes Gas also experience instability.
I saw that in the last few days, the transaction fee had decreased. but now there is an increase again.
I can't wait for July when it is reported that all these problems will be resolved in the middle of this year.

[b1boy]

I have been acting using other coins for transfer like litecoin with really how sending fee and On the off chance that I were you realizing that the ethereum value gas is so unstable particularly that ethereum is siphoning as of late, I propose that you as opposed to getting to irritated of the high gas value hang tight for it to get lower so you can move what ever you needed for a minimal effort.

[Nazmul012]

because of continueously increasing demand of bitcoin as well as altcoins, people invest their most of fund in crypto industry and doing huge transactions at this moment and so is also happening for ether also.that is responsible for make the gas price high.but not only for etherium but also for high gas issue effected by others altcoins too.hope it'll be solved after this industry start the normal movement.but at this moment, nothing to do without accepting those high fees.i suggest, not to make transactions if don't have an emergency.should wait when gas price low like mid-night or dawn

[DU18]

I have been acting using other coins for transfer like litecoin with really how sending fee and On the off chance that I were you realizing that the ethereum value gas is so unstable particularly that ethereum is siphoning as of late, I propose that you as opposed to getting to irritated of the high gas value hang tight for it to get lower so you can move what ever you needed for a minimal effort.

now the high transaction fees that occur on the eth platform make us have to think hard to get other solutions in order to save the money we have, like you do, I also do this by preferring to convert other altcoins to make withdrawals after selling tokens from exchanges, I usually use altcoins which are relatively cheaper, such as trx, doge or usdt trc20 than eth today.

[nimogsm]

I have been acting using other coins for transfer like litecoin with really how sending fee and On the off chance that I were you realizing that the ethereum value gas is so unstable particularly that ethereum is siphoning as of late, I propose that you as opposed to getting to irritated of the high gas value hang tight for it to get lower so you can move what ever you needed for a minimal effort.

many people use alternative ways to send funds when the price of gas is high.the only way to make cheap transactions is to switch ethereum to a new POS network.

[cafee_orange]

This is one of the weaknesses that ethereum still has today is that the "transaction fees" are very high, which has become a complaint by many members of this forum as well as complaints by ethereum enthusiasts. We hope that ethereum itself will fix it soon and ethereum will always be the favorite Altcoin.

[DU18]

This is one of the weaknesses that ethereum still has today is that the "transaction fees" are very high, which has become a complaint by many members of this forum as well as complaints by ethereum enthusiasts. We hope that ethereum itself will fix it soon and ethereum will always be the favorite Altcoin.

Gas costs are the biggest problem currently occurring on the ethereum platform and of course this is enough to give doubts to many people who do use the ethereum platform as a means of transactions and especially bounty hunters currently have difficulty selling the tokens they get in bounties, due to transaction fees (gas) that must be issued by the bounty hunter is not proportional to the results currently obtained and even now, many bounty projects are delaying payment of bounty participants due to the high cost of transaction.