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Author Topic: Why Ethereum GAS fee so high?  (Read 732 times)
mdashik46 (OP)
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April 05, 2021, 06:14:20 PM
 #1

Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
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April 05, 2021, 09:22:17 PM
 #2

Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?

The current high gas price is due to the increased adoption of the 0x smart contract system, where most transactions can't go through the normal channels (scalability problems, etc) but have to go through an intermediary.
When the gas prices will come back down to normal levels is a matter of debate.

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April 05, 2021, 10:22:12 PM
 #3

They can't handle the demands of transaction ETH comparing TPS (Transactipn Per Secon) Ethereum can handle that's why people trying to raise their fee to make the transaction got faster confirmed by the chain. Because of that, old transaction stucked while the network is raising keep repeating and make the fee ETH right now from around maybe 0.002-0.005 ETH to more than 0.01 ETH for sending a token.

But estimation USD why they are expensive due ETH right now 2,000$

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April 05, 2021, 10:23:43 PM
 #4

The same reason as for Bitcoin's fees - the blockspace is limited, the demand is high, so fees go up. It's not possible to do anything about it, just wait for demand to fall and then make your transaction, or suck it up and pay the fee. Unlike Ethereum, Bitcoin is still decentralized due to small blocksize, but ETH got the worst of both worlds - regular people can no longer run nodes because of blockchain bloat, and yet the fees are still very high. Maybe in the future ETH will manage to roll out some new tech for scalability, but it will take many years.

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April 05, 2021, 10:39:52 PM
 #5

The smart contract transactions are way too higher than what the Ethereum blocks can digest, and the major firms that are keeping the fee standards high by asking for and paying very high fees are Uniswap and Sushiswap. Though, you can't do anything but to pay high fees or if you've paid low fee, then either wait till gas fee level reduces and reaches your fee area or you need to redo the transaction with higher ETH fee just as you do in BTC.

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April 05, 2021, 10:43:42 PM
 #6

Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?

Of you're doing uni trades, try ETH/COIN or even WETH/COIN pairs, as they have the lowest fee's.
Bright side might come in few months with optimism, when we expect to see some price of fee's go down
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April 05, 2021, 11:17:32 PM
 #7

Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?

gas fees from Ethereum will go down when ETH 2.0 is launched and in my opinion what makes gas fees from Ethereum become expensive is because many people make transactions using Ethereum blockchain and I believe if Ethereum has made an update (ETH 2.0), then of course gas fees from Ethereum will become low.
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April 05, 2021, 11:55:10 PM
 #8

I think this topic have been discussion in many time tread better you read and make your opinion on other tread before have discuss about problem why ethereum gas fee so high, every one know with ethereum have reach above $2,000 and make impact gas higher, if want to see gas eth lower just wait when have chance eth on lower price.
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April 05, 2021, 11:55:41 PM
 #9

Maybe in the future the fee reduction will take place with the updates. As of now we don't have any other go, today myself encountered the fee issue with ethereum that I never expected. For a transaction of $130 worth of ETH the fee was $14 worth of ETH. This is why people never prioritise cryptocurrency on small scale transactions. Right now Tron is the only asset that provides the best transaction access for low fee with much faster confirmation.

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April 06, 2021, 01:53:19 AM
 #10

Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
DeFi, IDOs, and the increasing price of Ethereum. DeFi ramps up Ethereum transaction fees to 2018 highs: report


Ethereum: how to save even more on gas price with a weekly plan

ETH/ERC20 - Check and select good Gas price
Many websites for you to check Ethereum network and recommended Gas price. I think Gas now is one of the best.

You need to read the topic [url=https://bitcointalk.org/index.php?topic=5277890.msg55253979#msg55253979][GUIDE] How to cancel or replace an ETH transaction (Metamask, MEW, MyCrypto)
to have knowledge and preparation for cases when you need to cancel you low gas price transactions or replace them with higher gas price.




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April 06, 2021, 01:59:38 AM
 #11

gas fees from Ethereum will go down when ETH 2.0 is launched and in my opinion what makes gas fees from Ethereum become expensive is because many people make transactions using Ethereum blockchain and I believe if Ethereum has made an update (ETH 2.0), then of course gas fees from Ethereum will become low.
It looks like there have been many discussions about the high cost of Ethereum transactions in this forum thread.
but strangely it keeps appearing again.
you need to know that the issue of ethereum gas costs is planned to be completed in July this year. And we don't have to wait until ethereum 2.0 finishes rolling out in 2023 if I'm not mistaken.
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April 06, 2021, 03:00:07 AM
 #12

try using wrapped eth that is in binance smart chain maybe? you're not gonna spending a ton just for fee but if it's erc20 then the only thing you can do is wait and yes, there's rumour going around that in july the fee problem gonna be resolved but keep in mind it could be anytime.
one thing you should try is to monitor the fee and find the time where it's the lowest then you can try making transaction.

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April 06, 2021, 01:22:57 PM
 #13

I think it is because many defi platforms are using ethereum network, see here for top gas users : https://etherscan.io/gastracker
My advice, you should using binance smart chain to avoid high gas in Ethereum. There are many projects already using BSC token as their native token and the gas fee is far better than Ethereum gas fee.


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April 06, 2021, 02:02:09 PM
 #14

Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?

1. There are lots of transaction in ethereum blockchain and ethereum blockchain can't handles these transactions and that makes a lot of transaction was getting stuck
2. The price of ethereum is increasing even higher than before and this is also making the transaction fees becomes even higher than before.

Both have become the main reason why fees are so high.

There is a possibility and ethereum developers are working on it.

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max6575
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April 06, 2021, 02:15:30 PM
 #15

yes as network fee back again to normal , trader and investors might work with customs on following personal strategy as managing plan that now only traders with high volume might still gains benefit on high fees as relative with the fee scale gives with length on difference.

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April 06, 2021, 02:34:22 PM
 #16

Basically, there are two things that would be the main factors with the high gas problem.
  • Since there is a lot of demand with smart contracts using ETH, it requires a lot more ETH gas to transact and process.
  • ETH price is at its ATH

Just like what the other members said, after the launch of ETH 2.0, I believe it would rise even higher in price while giving a solution to the ridiculously high fees per transaction. So while it has that expensive transaction fee, it's not going to reach higher highs yet. Hopefully soon. Probably HODL more ETH.

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April 06, 2021, 02:38:19 PM
 #17

Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Increased transactions on the ethereum network
In terms of conversion, the USD is currently experiencing an increase because ethereum is also rising in price. to be able to get cheap deals make sure you have to be able to check on https://etherscan.io/gastracker. because every hour it always increases and decreases in a short time. For transactions with low value, for now the problem is that the fee is always increasing

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April 06, 2021, 03:28:21 PM
 #18

Basically, there are two things that would be the main factors with the high gas problem.
  • Since there is a lot of demand with smart contracts using ETH, it requires a lot more ETH gas to transact and process.
  • ETH price is at its ATH

Just like what the other members said, after the launch of ETH 2.0, I believe it would rise even higher in price while giving a solution to the ridiculously high fees per transaction. So while it has that expensive transaction fee, it's not going to reach higher highs yet. Hopefully soon. Probably HODL more ETH.
As an add on, the reason why ethereum gas fee is high,due to following reasons, being high demand in crypto, high value and having many transactions or many uses it. For now, if you're not satisfied in its value and it's gas price, better hold it because for sure it will be given a solution in the right time. There is always a solution in every problem.


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April 06, 2021, 03:37:58 PM
 #19

Too many transactions are done on the Ethereum network. The reason for the high price of Ethereum is mainly related to the operation of DEFI projects.
Ethereum has a small block size while too many transactions happening on the Ethereum network will cause a dispute between transactions and make a GAS price rise take priority.
If Ethereum is scalable, increasing the number of TPS and block size could help reduce GAS costs.

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April 06, 2021, 03:39:00 PM
 #20

The selling factor of ethereum is starting to increase, and there are also a lot of markets that have sprung up now, plus the public interest is very high, therefore any costs about crypto start to increase..

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