Ethereum Gas Fees Drop

[harapan]

That is very interesting, especially for those who choose to not made some transactions using ethereum because there are lots of people who don’t afford to make some transactions in ethereum transactions because it could be a huge loss for them so this is a big good need for them.

It's really good news. I was totally shocked when I saw news on twitter that gas fees had dropped by over 90%. It was completely unbelievable that I had to try it myself to confirm. Eth gas fees has been high for a relatively long amount of time which gave rise to the creation of new layer 2 networks and sidechains that were used to offset other things people couldn't do with eth like defi. Before now, using eth blockchain was for the rich people who could afford those $20 to $500 fees. I recently saw a twitter post about a guy who tried buying at NFT worth around $25 or so but gas fees alome was at $50+. It's outrageous. Thank goodness everything is getting back to normal.

[blue Snow]

Is it true?

Yeah that's true, you don't need to make a transaction in eth Network to know about eth gas fee, you can enter eth gas station page and see update by refreshing this page.

Regarding https://ethgasstation.info/ we can see the gas fee update. or we can see update the mempool https://jochen-hoenicke.de/queue/#ETH,24h,fee

Seems all network has to calm down phase. the Transaction takes short a time to be confirmed. Maybe has to rest a while from their much activity in the past.

[Darktongue]

I'm very surprised that Ethereum GWEI cost is also volatile as the cryptocurrency market. Only a few days ago ETH transaction cost dropped to half USD 😯. Again, from today GWEI is going down. Maybe it will rise again until we have final Ethereum 2.0. Actually, I'm not free to make ETH transaction because I have to wait to drop fees. Definitely Ethereum lost so many new projects and those users support.

[imstillthebest]

I'm very surprised that Ethereum GWEI cost is also volatile as the cryptocurrency market. Only a few days ago ETH transaction cost dropped to half USD 😯. Again, from today GWEI is going down. Maybe it will rise again until we have final Ethereum 2.0. Actually, I'm not free to make ETH transaction because I have to wait to drop fees. Definitely Ethereum lost so many new projects and those users support.

that's how it work . Fees are following the price of the crypto . Fees can drop when a crypto price drop and we are entering the bear market lately ,
 it's why we experience a drop of fees but this is our time now to transact eth related transactions if ever you want to buy or sell something  . We have lots of aternatives to eth that solve eth issues , this make eth lost some of its users 

[Valak]

Hello guys! I share you these good news. Ethereum Gas Fees drop dramatically today to reach top-year low. The Gas Fees prices has drop 50% in the last 2 days. The graphic below shows the evolution of ETH gas prices during the last year.

Gwei blockchain is always changing. I think this is normal and depends on the confirmation block. The thing I least understand is why the fees on blockchain swaps are so high, and why people would want to swap for such a high fee.

[Noruka]

Still if you want to trade on Uniswap it is extremely expensive isn't it? The last time I tried it I was surprised because a normal transaction from MEW was like 6 dollars but when I checked the price for a transaction on Uniswap it said 45 dollars or so.What exactly is the problem there? It also didn't let me make any changes.

I have some altcoin that I want to swap and can only swap on DEX but the very high transaction cost will eat up my profit by 40% and I wonder why the volume on these DEX'S are high considering the very high fees, it made me think that Dex's have become the playground of whales because they can keep up with the very high fees.

Yes, that is my experience, too. I asked myself if a normal transaction from MEW is around 6 dollars where do those 45 dollars on Uniswap come from? Who takes that money and makes the whole exchange impractical? The whales can only trade very well if small retail traders can participate as well, but they can't under these conditions.

[ILuckyGuyI]

There has been a really huge decrease in Ethereum gas fees. I wish that it stays always like this even in the worst case.    I hope that Ethereum finds a permanent solution for the high fee problem in the future. People are really fed up with this.

[casperBGD]

There has been a really huge decrease in Ethereum gas fees. I wish that it stays always like this even in the worst case.    I hope that Ethereum finds a permanent solution for the high fee problem in the future. People are really fed up with this.

yeah, Level2 projects and roll-ups are here to lower gas fees on Ethereum, and hopefully will stay here, so that fees stay on these levels until ETH2.0 and PoS deployment on the main-net, or merge
nevertheless, this is a great moment to actually consolidate and collect profits on Ethereum DeFi projects, since interaction with smart contracts is on last year level prices, much lower than during February and March

Arbitrum is a project that should be looked at, when fees are going down

[kenelmark]

Hello guys! I share you these good news. Ethereum Gas Fees drop dramatically today to reach top-year low. The Gas Fees prices has drop 50% in the last 2 days. The graphic below shows the evolution of ETH gas prices during the last year.

The gas for transactions on the Ethereum blockchain is always changing, there are times when Gwei increases, and there are times when Gwei decreases. This is nothing new. In the past Gwei has been very high, reaching +100 Gwei over. And this is what Ethereum blockchain users are complaining about. Ethereum transaction fees with tokens are of course different, and most of those blockchains confirm token transactions, so Gwei has increased dramatically.

[brooksby]

There has been a really huge decrease in Ethereum gas fees. I wish that it stays always like this even in the worst case.    I hope that Ethereum finds a permanent solution for the high fee problem in the future. People are really fed up with this.

yeah, Level2 projects and roll-ups are here to lower gas fees on Ethereum, and hopefully will stay here, so that fees stay on these levels until ETH2.0 and PoS deployment on the main-net, or merge
nevertheless, this is a great moment to actually consolidate and collect profits on Ethereum DeFi projects, since interaction with smart contracts is on last year level prices, much lower than during February and March

Arbitrum is a project that should be looked at, when fees are going down

We first should wait and check what they finally achieve in terms of gas fees and scalability. Usually it should be simple maths, but you never know what kind of application comes around the corner that again manages to get the network congested.

I for my part hope that Ethereum can achieve a level of scalability that allows for it to become the epicenter for decentralized applications.

[BintangBuleun]

Is it true? I just found out about this because I haven't used the eth network for a long time, it's very annoying with a large fee. Is this related to their update ETH v2 ? if this persists many new projects will choose the ETH network again, and begin to forget about the BSC network. I hope ETH and BSC don't have a huge fee difference.

Yeah that's true, you don't need to make a transaction in eth Network to know about eth gas fee, you can enter eth gas station page and see update by refreshing this page. A lot of users can't send token for large network fee. It’s don't think for that a lot of eth project are coming then fee is down, impact i have seen tons of project those are launched in BSC network.

Don't you see that BSC also has the same transaction fees as Ethereum. If you use the Binance Chain Extension, the transaction fee is 0.001 BSC, meaning that the fee is the same as ETH. It's just that the price of BNB is lower than ETH, so it appears that the transaction fees of the BSC Blockchain are lower than the Ethereum blockchain. Why the price looks high, because you measure it in dollars.

[el kaka22]

Honestly it is around at 2 dollars levels and that is as good as it gets for something like ethereum. However the amount of transactions are not the same and that is a big reason why it s lower right now. Not like there was a solution to it, the prices of many things dropped and people are not trading as much as they used to.

Plus the numbers change a lot, like I tried sending 20 bucks from my metamask just this morning and it suggested 8 dollars, I do not know where people get their gas fee calculations or where my metamask did but I decided to use BSC once again, it is that simple to drop the amount of eth is used because if you tell me 8 bucks then I will switch to other place which charges me like 20 cents, it is wildly different. All in all I think ehtereum is going to be better and better but it is not going to be right now, it will take some time.

[MishaSER]

Yes, that's good news, but it's still a lot, Ethereum-based swap exchanges still have high fees.

[lozovenkop]

This can not but rejoice. Maybe swaps will be more accessible soon.
But the only sad thing is that with the new hyip, the commissions can again become huge and the problem, as I understand it, is not 100 percent solved

[ningrum]

happy to hear that Ethereum fees have dropped to $1 or 10-20 gwei,
of course this is good progress for ethereum, because this is what developers have to do,
if everything is cheap then users will also be happy with the ease of using crypto currency, so grateful that Ethereum still have that power here

[kayiboyu]

Ethereum gas gees have been at a really nice level. We all hope to see that fees don't go high again. There is still no persistent solution about it. I hope that ETH 2.0 changes something about this. Investors must be unhappy about paying high fees.

[Fredomago]

happy to hear that Ethereum fees have dropped to $1 or 10-20 gwei,
of course this is good progress for ethereum, because this is what developers have to do,
if everything is cheap then users will also be happy with the ease of using crypto currency, so grateful that Ethereum still have that power here

yeah, if everything is more affordable than many end users will use the system, it's really good to see that the adjustments  been done,

i's been a long while that every holders and traders are having difficulty exchanging their assets using this chain, they've suffered from high transaction fees especially those small time traders which happened that the amount that they've supposedly to trade is far lesser compared to the transaction fees that they've needed to pay.

Great job and initiatives, for the best of all sides, traders, investors and developers.

[Noruka]

happy to hear that Ethereum fees have dropped to $1 or 10-20 gwei,
of course this is good progress for ethereum, because this is what developers have to do,
if everything is cheap then users will also be happy with the ease of using crypto currency, so grateful that Ethereum still have that power here

yeah, if everything is more affordable than many end users will use the system, it's really good to see that the adjustments  been done,

i's been a long while that every holders and traders are having difficulty exchanging their assets using this chain, they've suffered from high transaction fees especially those small time traders which happened that the amount that they've supposedly to trade is far lesser compared to the transaction fees that they've needed to pay.

Great job and initiatives, for the best of all sides, traders, investors and developers.

Lots and lots of users. The vast majority are no crypto millionaires but are playing around and trying stuff out with rather small wallets. They have absolutely no chance to participate in all the decentralized finance applications if those run on top of the Ethereum blockchain.
The fees make it simple impossible for them and I think those are exactly the people we need. Those who can make a little more out of their money although they are not a whale. That is to some degree an important point of crypto.

[fortune1002]

Today ethereum gas fees has decreased a lot. Today the GWEI is 12-15 and Ethereum transfer fee is 0.7-0.95$ and Swapping on Uniswap will need only 10$ fees. I hope now gas fee will not increase and we can make transaction easily.

[BOAEDAN]

Today ethereum gas fees has decreased a lot. Today the GWEI is 12-15 and Ethereum transfer fee is 0.7-0.95$ and Swapping on Uniswap will need only 10$ fees. I hope now gas fee will not increase and we can make transaction easily.

My suggestion is that you can take advantage of the low price of gas on Ethereum to make transactions arbitrarily or you can say take advantage of the difference in prices from various exchanges because when the price of ethereum at the exchange goes up, it is certain that gas costs will not be cheap anymore.