Ethereum now looks like a complete joke

[tvplus006]

Have you tried decreased the gas fee?
I usually set it to normal, and it costs only a bit to make a transasction.

High network fees are very visible when making an exchange on decentralized exchanges, where you have to pay them twice for each transaction. Such high commissions can be considered a payment for anonymity on the network. When transferring from a wallet or exchange, these fees are not as large when compared to DEX.

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[Zeehaxan]

It doesn't look like altcoins will pump hard this time around, it's still shocking that many ERC20 tokens under Ethereum are not really appreciating in value even when Ethereum reached 1200$, I have nothing to say than to ask what the heck is going on.

Another issue is the insane gas fee of ethereum, I have been holding ERC20 tokens the most and to even sell right now is killing me inside because it costs over 10$ to move my ERC20 tokens to exchange, I might just have to give up on this heartbreaking Ethereum blockchain

Yeah, a couple of days ago i was thinking to exchange some of my tokens but when i checked the transaction fee i just changed my mind because most of the tokens were in small amounts and value that i wanted to exchange so the high transaction cost made it useless exercise so i skipped it.

[magnum cyber]

I don't think this is the end of the Ethereum price hike, I still believe that Ethereum can hit its ATH again one day. and keep in mind that the increase in the price of an erc20 token does not depend on the increase in the price of ethereum itself.

[Jackl87]

The price looks great at the moment, but with the high network bandwith in the last days and weeks it shows once again, that ETH has reached it's limit in it's current form.
I unstaked my LP's from a Yield Farm two days ago and restaked them somewhere else. Those 4 transactions did cost me 50$.
Currently ETH is just not a user friendly platform or payment method that is useable in the daily life.
The switch to ETH 2.0 is eagerly awaited 

[smoolae]

Ethereum high price doesn't mean that its subsidiary ERC20 tokens should pump right away when ETH does.
Bitcoin->Eth->alts is the order (it's even like top 10->top 100->everything else).

Just give it time and let's see what will happen.

[yazher]

It doesn't look like altcoins will pump hard this time around, it's still shocking that many ERC20 tokens under Ethereum are not really appreciating in value even when Ethereum reached 1200$, I have nothing to say than to ask what the heck is going on.

Another issue is the insane gas fee of ethereum, I have been holding ERC20 tokens the most and to even sell right now is killing me inside because it costs over 10$ to move my ERC20 tokens to exchange, I might just have to give up on this heartbreaking Ethereum blockchain

I find your topic as a joke because you seem don't understand what's going on with the Ethereum market right now. Those other ERC20 tokens ha nothing to do with the rising of the price of ETH in the market, they have their own owners and developers. the only link they have with Ethereum is they are from the same network or blockchain. As for the price of gas, that's the main problem when the price of ETH is rising in the market, you need to get used to that since it has been there since the beginning.

[zasad@]

It doesn't look like altcoins will pump hard this time around, it's still shocking that many ERC20 tokens under Ethereum are not really appreciating in value even when Ethereum reached 1200$, I have nothing to say than to ask what the heck is going on.

Another issue is the insane gas fee of ethereum, I have been holding ERC20 tokens the most and to even sell right now is killing me inside because it costs over 10$ to move my ERC20 tokens to exchange, I might just have to give up on this heartbreaking Ethereum blockchain

Bitcoin and Ethereum prices are rising because institutional investors are interested in them.
Ethereum inflation will decline for two reasons:

EIS 1559 is promised this year (some of the commissions will be burned)
Change to POS algoritm

The exchange takes 0.3-0.5% commission per trade. If your deal is $ 100, then it is more profitable to trade on the CEX, if your deal is $ 10,000, then it is more profitable to trade on uniswap and similar DEXes.

[Indymoney]

It doesn't look like altcoins will pump hard this time around, it's still shocking that many ERC20 tokens under Ethereum are not really appreciating in value even when Ethereum reached 1200$, I have nothing to say than to ask what the heck is going on.

Another issue is the insane gas fee of ethereum, I have been holding ERC20 tokens the most and to even sell right now is killing me inside because it costs over 10$ to move my ERC20 tokens to exchange, I might just have to give up on this heartbreaking Ethereum blockchain

I find your topic as a joke because you seem don't understand what's going on with the Ethereum market right now. Those other ERC20 tokens ha nothing to do with the rising of the price of ETH in the market, they have their own owners and developers. the only link they have with Ethereum is they are from the same network or blockchain. As for the price of gas, that's the main problem when the price of ETH is rising in the market, you need to get used to that since it has been there since the beginning.

You are right OP is not understanding this all and talking about this topic which is really shit by him currently Ethereum is doing very good with many projects even many stablecoins also in good position but still not able to touch this few peoples talking about gas wihich is really concern at the time but its also going to solve in near future as ethereum developers working on this very quickly hopefully we will have some good news in near future.

[wxa7115]

Is it really like that?
Should every ERC20 token rise in value whenever Ethereum does?
Why should it lean over Ethereum price when they have their own market?
Isn't it enough that they used Ethereum to create their contract for their dusty projects?

Perhaps, you should ask the devs of your supported project why their tokens are not appreciating in value.
Gas fees depend on traffic.

Perfect answer, ethereum is just the platform in which those coins were created and nothing more, just because ethereum is going up in value does not mean that every single coin created using their platform is going to go up in value as well, the only way for most altcoins to go up in value is an altcoin season and right now that does not seem possible as all the interest is in bitcoin alone, so the only way for a coin under these circumstances to go up in value is to be a good coin and have something more than hype behind it.

And unfortunately for most coins out of the top 50 that is the only thing they had, otherwise they would be on the top 50 already or at least they will be close to achieve that goal.

[bittick]

Ether is the best altcoin, why you think it's a joke? it had a good run just like bitcoin, but yes It should have crossed $2k this time but I still believe a long time left for another rally to go over $2k+ and it will happen within the next few weeks. We all gotta do is patient and let do the ether 2.0 come it will be crazy.

he was saying like that due to the non sense transaction fees that happened in ethereu, when you are trading on uniswap right now and it costs around $20 for each transaction.
That's why some poeple have been calling it as outdated chain.
You can now see that on ethgasstation about how crazy the ethereum fee is.
That's why the only whales that can afford the transaction in ethereum network.

[saffira]

It doesn't look like altcoins will pump hard this time around, it's still shocking that many ERC20 tokens under Ethereum are not really appreciating in value even when Ethereum reached 1200$, I have nothing to say than to ask what the heck is going on.

Another issue is the insane gas fee of ethereum, I have been holding ERC20 tokens the most and to even sell right now is killing me inside because it costs over 10$ to move my ERC20 tokens to exchange, I might just have to give up on this heartbreaking Ethereum blockchain

I believe you misunderstand the flow. The price of eth ethereum has nothing to do with your erc tokens price. Its a different rate. Why not try selling your tokens, hold the ethereum and when the price gets higher, definitely you will gain.

[Twinkledoe]

I believe you misunderstand the flow. The price of eth ethereum has nothing to do with your erc tokens price. Its a different rate. Why not try selling your tokens, hold the ethereum and when the price gets higher, definitely you will gain.

Yes, obviously this is a misunderstanding, because he was expecting shitcoin using the ethereum platform to increase in price when ethereum experienced a good price increase from last year to the present, even though it is clear that such a thing has nothing to do with it.

Maybe he is still new when it comes to erc 20 tokens. But definitely, the price of erc 20 tokens doesn't follow the performance of ETH in the market. As their development is independent with eth, their respective team has the responsibility how to develop their own platform. They are just built under eth network but the actual progress on their roadmap or list of objectives depend solely on the team running it.

[RussianEnglishTranslation]

It doesn't look like altcoins will pump hard this time around, it's still shocking that many ERC20 tokens under Ethereum are not really appreciating in value even when Ethereum reached 1200$, I have nothing to say than to ask what the heck is going on.

Another issue is the insane gas fee of ethereum, I have been holding ERC20 tokens the most and to even sell right now is killing me inside because it costs over 10$ to move my ERC20 tokens to exchange, I might just have to give up on this heartbreaking Ethereum blockchain

It's going to be difficult for a while until L2 opens up to all ERC20s. Some projects are using token bridges to other blockchains so users can interact with those chains and trade. 0xMR for example is on xDAI Chain, Syscoin, and incognito chain.

[satria157]

isn't this good, when the ethereum pump altcoin also joins the pump this indicates that ethereum has a big effect on altcoins, which in fact are not altcoins that use the Ethereum platform only but there are many more, but on the other hand we have to find expensive shipping costs lol

[Shallow]

It doesn't look like altcoins will pump hard this time around, it's still shocking that many ERC20 tokens under Ethereum are not really appreciating in value even when Ethereum reached 1200$, I have nothing to say than to ask what the heck is going on.

Another issue is the insane gas fee of ethereum, I have been holding ERC20 tokens the most and to even sell right now is killing me inside because it costs over 10$ to move my ERC20 tokens to exchange, I might just have to give up on this heartbreaking Ethereum blockchain

That a token is based on Ethereum blockchain does not mean that as Ethereum piece goes up, the tokens as well is meant to go up, the only thing Ethereum offered to all tokens built on its blockchain is a foundation on which they can kick off their development, now what the team do afterwards is up to them, that is, where some will work hard to make their token worth it, others will either exit scam or abandon their project, therefore in essence, Ethereum have no business with the price of any token on its blockchain. The samething that happens with ERC tokens is the same that happens with other blockchain's tokens, the growth of a project is left to the team. On the other hand, to be frank selling some ERC tokens atimes seems to be hard, not because you can't sell but considering the gas fees, you might just give up but it looks like there is nothing anyone can do about it than to wait for the ETH 2.0 with hope the high gas fees will be sorted out.

[leea-1334]

This seems wrong, because some tokens on the ETH network have increased. this happened in addition to the increase in price from Ethereum as well as from bitcoin. the impact is when the price of bitcoin is stable the price of altcoin will be bullish and yesterday you could witness a huge increase in altcoins

Increased in price, market value, which we all know is not really indicative of any real long term intrinsic value. Imagine that even Bitcoin with all its proven utility still raises questions of intrinsic value (which I do not agree with),,, what more other networks where they have yet to achieve real world scale and usefulness?

[fahmimajannat]

I think it will be stable after eth the launch of eth 2.0.
Because of eth's transferring is limited to 1800 per minute the price are pumping.
It will be solved after the launch of eth 2.0 hopefully.

[tvplus006]

I completely agree with your opinion that you need to wait a certain time until the altcoin season comes, but until that time, very bad circumstances may develop for Ethereum, and today, due to the high cost of the transaction, many developers may leave the erc20 platform. We all expected the EHT 2.0 update, and hoped for an improvement in the scalability situation and, accordingly, a solution to the problem of high commissions, but the situation does not change and I am afraid that Ethereum may lose relevance over time.

Vitalik Buterin could not assume at the launch of ethereum that his project will become global and will need to simultaneously serve transactions estimated in the hundreds of millions. And this problem with the scalability of Ethereum will not be solved soon, since only phase "0" of EHT-2 is currently running.

[inanilujimi]

I don't think it is right to blame ETH because the value of the altcoins that are in the ERC20 blockchain does not increase, gas costs do not continue to be expensive because I know the cost of gas is according to the number of user traffic. the more traffic, the greater the costs you have to spend, there is absolutely no relationship between ETH and the altcoins running in its block regarding the price. just ask the owner of the project why the altcoin value is not increasing, because what I know is the hype that was created did not come naturally.

[tyz]

It doesn't look like altcoins will pump hard this time around, it's still shocking that many ERC20 tokens under Ethereum are not really appreciating in value even when Ethereum reached 1200$, I have nothing to say than to ask what the heck is going on.

If you're shocked, then you've never looked at most of the ERC20's. 99% of the ERC20 tokens are complete garbage. Sorry for the choice of words, but it is correct. There are very few who really have a use and these are mostly tokens that are about to switch to their own chain.

Another issue is the insane gas fee of ethereum, I have been holding ERC20 tokens the most and to even sell right now is killing me inside because it costs over 10$ to move my ERC20 tokens to exchange, I might just have to give up on this heartbreaking Ethereum blockchain

Similar to above: Already in 2017 it was shown that with increased use of the Ethereum chain (at that time triggered by the many ERC20s due to the ICO boom) the fees increase extremely. Seen even stronger than Bitcoin's fees in relative comparison. That was more than three years ago, and little has been done in development to improve it. If this surprises you, then you haven't looked closer at Ethereum at all.