GAS fees on the ethereum network are slowly falling

[larus]

I think that this is a temporary effect during curent dip market

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[iv4n]

I think that this is a temporary effect during curent dip market

We can speculate about what exactly happened, but when I wanted to move some Ethereum this morning I was nicely surprised to see some "normal" fees, they are lower than before, but still, it's high compared to some others! And just to add they were quite fast!
Temporary or not, Ethereum has this problem with fees for some time, and as I said a few times before if they don't solve that, I believe they will lose the race in long term! Some Ethereum competitors are doing a great job, and still, they have cheap transaction fees when we compare it with Ethereum and Ethereum tokens transaction fees!

[_IRMAN]

I think that this is a temporary effect during curent dip market

I don't think so. Usually if the price of ETH goes down, gas will go up because many people panic selling. However, currently the gas is getting lower, it seems that transactions on the ETH network are not as busy as they were yesterday.

The question is whether ETH can solve gas problems or does eth users start switching to another network?

[awakpane]

I think that even though the last few days Ethereum gas costs have gone down it doesn't mean normal ETH gas costs, but there will be more hikes. As I know that Ethereum gas costs will return to normal if Ethereum 2.0 is launched because ETH 2.0 can solve the problem of ETH gas costs which have been very high so far.

[Cornia]

I think that this is a temporary effect during curent dip market

Maybe your idea is true. Ethereum's high gas price has been around for years. We heard that ETH 2.0 will actually solve this problem. There are rumors that the issue will be resolved by next June. I think a lot has happened, now is the time to fix it. If this is not resolved now, Ethereum will have to face many problems in the future to keep its position.

[aprilnot]

ethereum hasn't fixed this problem. so if the gas fee goes down, that means something else triggers it. I see this maybe because many have switched to bsc, so transactions on the ethereum network have decreased. and this is not a very good thing for the future of ethereum. I'm afraid that if there is a big wave switching to another platform it will affect ethereum. and maybe ethereum won't be the first choice.

[devollito]

Its falling because many dapps transaction slowly move in to bsc, look at dapps on BSC, many dapps on BSC is old dapps which developed on ethereum before. Let say Idex for example, they are moving in to BSC because of high fees. And at those fees price is still very expensive if we compare to other blockchain network, even bitcoin.

[semobo]

In recent days I have seen the price of GAS go down. which was above 100 is now starting to get closer to 50. This is very good for the future, what's more, the problem of the high cost of Ethereum transactions has been quite a while. The question is whether this will continue until the gas fees return to normal, or will there be an increase again as transactions become more intense on the ethereum network.

for those of you who want to see the latest GAS prices you can see it at https://ethgasstation.info/

Good news for the ETH holders and this mainly happened due to the craze over BSC network in my opinion and lot of projects moved to BSC while network fee on ethereum was highly expensive. Currently, 52 GWEI for the fast transaction that reduced the fee a lot compared to the last few while but the worrying sign is price of ethereum is also falling on the other side.

[Mr.Scott]

Due to high gas fees on the ethereum network I didn't make any visit recently until I notice this post. It's good to see average ethereum transaction fess under $3 but point is how long it stay here. Vast majority are transformed ETH to BSC network and it would definitely effect on the ETH market.

[Yamifoud]

Good for the future? I don't see it a good thing because when ETH network will be congested, the network fee will increase again, and to see it drop doesn't mean its good because people who transact regularly does always want a cheap and fast transaction fee, ETH network has not given that.

[Pamadar]

I think that this is a temporary effect during curent dip market

I don't think so. Usually if the price of ETH goes down, gas will go up because many people panic selling. However, currently the gas is getting lower, it seems that transactions on the ETH network are not as busy as they were yesterday.

The question is whether ETH can solve gas problems or does eth users start switching to another network?

The very chance that there are many ETH users who are now taking their journey using alternative chain.

The high transaction fees mostly the reason, we don't know if this  temporary cheap fees are sustainable or the network is
not busy because there are amny investors who are not willing to lose their money, and gamble to this current downfall.

[Distinctin]

Good for the future? I don't see it a good thing because when ETH network will be congested, the network fee will increase again, and to see it drop doesn't mean its good because people who transact regularly does always want a cheap and fast transaction fee, ETH network has not given that.

I was almost tired of waiting for the fees to slow down and get back to their normal transaction fees before but that seems not clear enough when to see it back again. Really disappointing how it comes like this and most holder stuck their ERC20 tokens and are not able to sell them due to high fees. And I just hope that people could still be patient more, July is rumored to have the upgrade of ETH20 is quite long, and can't be sure as well if this could change everything.

[Febo]

In recent days I have seen the price of GAS go down. which was above 100 is now starting to get closer to 50. This is very good for the future, what's more, the problem of the high cost of Ethereum transactions has been quite a while. The question is whether this will continue until the gas fees return to normal, or will there be an increase again as transactions become more intense on the ethereum network.

At least in Bitcoin when is weekend fees are lowest when is work days fees are high. Best time to make a transaction is Sunday. Worst day is Friday. I doubt with Eteherum things are much different. In general on long term Etehreum fees will only go up.

[(o)(o)ilikeboobs(o)(o)]

Today I took advantage of transferring my ERC20 tokens to exchanges and doing some transactions at 1inch.exchange in the hope of getting the airdrop in the future.

For the first time in months, I feel as comfortable with transactions on Ethereum as I am now. The market looks quiet, which could be a sign of a big value change in the coming days.

Right now, everyone should take advantage of transactions to have good transaction costs because tomorrow may not be as favorable as today.

[sulis sudibyo]

I think that this is a temporary effect during curent dip market

I don't think that's why the transaction fee could go down. back then when the market crashed, transactions on the ethereum network remained solid. So I'm sure it's not because the market is in red. I think this is due to the fact that many people are starting to switch to using the BSC platform. and this is not a very good situation, it might have implications for ethereum in the future.

[grabpopcorn536]

Having fewer transactions on the Ethereum network is also a sign that the market is about to fluctuate strongly. I remember when the long-term downtrend was very cheap and no one cared about them. I don't know if shortly GAS on Ethereum will go high but now is a good opportunity to move your tokens at a good cost.

[susuberuang]

This is a very good response done by the etherem, of a course this is a very positive thing because it can attract back etherem users who have moved to BSC, hopefully the transaction costs will continue to decline because very many expect ETH to always dominates the crypto market from other altcoins,

[repear7]

I noticed it. Transduction fees of eth and erc-20 tokens are decreasing. Recently, I Make a ERC-20 token transaction and that transaction cost around 3-4 USD worth ETH. Hope gas fees will decreased more soon.

[Republikcoin.com]

I noticed it. Transduction fees of eth and erc-20 tokens are decreasing. Recently, I Make a ERC-20 token transaction and that transaction cost around 3-4 USD worth ETH. Hope gas fees will decreased more soon.

is what you said true? a few minutes ago I did a GAS average check for transactions on the Ethereum network. To make an ERC-20 transfer, it requires at least $ 8 - $ 9, while the fee to increase or decrease LP at Uniswap is still very high, which is between $ 22 - $ 24.
the source I got was from Etherscan


BTW, is this a result of the reduced number of users on Ethereum's blockchain network? As we know, many users switch to the BSC network and leave ETH temporarily or maybe forever. This of course results in a reduction in the number of transactions that occur on the Ethereum network

[capcaypro]

of course this is very good information. frankly i was a person who used eth at first but with the crazy gas prices i switched to bsc and there are still some of my tokken left on eth. if the gas starts to go down I think sooner or later eth users will return to normal because we now know that there are a lot of complaints made by eth users about expensive gas.
hopefully this will be even better in the future so that eth users are back to normal.