Ethereum Gas Fees Drop

[Axelseseclevz]

Now we can make transaction at 5gwie under Ethereum blockchain. Hoping that it will continue and not go back again to a very high gas fee. Many people still use Ethereum even it has a lot of competitors. These development in ETH transaction fees will help to attract again many people to trust and use Ethereum.

[fileo]

Now we can make transaction at 5gwie under Ethereum blockchain. Hoping that it will continue and not go back again to a very high gas fee. Many people still use Ethereum even it has a lot of competitors. These development in ETH transaction fees will help to attract again many people to trust and use Ethereum.

We all wanted a fair transaction cost. I do believe that small altcoins holders are the most affected during the high gas transaction fee. We cannot afford to do transaction due to not enough Eth to execute our plan to sell the token rewards. We all trust and looking forward for Ethereum to maintain low gas fee(we hope).

[triat]

Ethereum transfer fees are still high, but it's still a good time to transfer funds. The Ethereum 2.0 update may change things, but until then, transfer fees will always upset us. We may miss these transfer fees when the bull market comes again 

have you done transactions for a long time? Now there are 5 gweys, which is a price per transaction of 30 cents. Anu show me where she is below. Moreover, now, even on BSC, the cost of transactions is higher.

I also just saw how the cost of ethereum gas has decreased enormously. this is something great for ERC token traders. they can trade their tokens again after a long wait. maybe some have even moved to BSC.

Be it BSC or ERC, I think there will be adjustments in transaction fees when trading traffic on their blockchain network increases to become very dense.

this is true, but then don't forget about other networks. For example, I very often use huobichain and matic, where the commissions even in relation to the current ones for ETH and BSC are ten times less.

[casperBGD]

~snip
this is true, but then don't forget about other networks. For example, I very often use huobichain and matic, where the commissions even in relation to the current ones for ETH and BSC are ten times less.

this is true, but bear in mind that Ethereum network is much more decentralized than BSC, and that has its own price, which is included through higher fees

IMO, with these fees level, BSC has lower chances to prosper, than when Ethereum fees were much higher in February and March, but BSC had their time during Q1 2021, and established themselves as good network, which is here to stay, nevertheless, I do not believe it is a Ethereum competitor on these fees level, we will see

[2tang]

this is true, but then don't forget about other networks. For example, I very often use huobichain and matic, where the commissions even in relation to the current ones for ETH and BSC are ten times less.

Yes, actually every network that already exists on all platforms must be remembered and used when we need it, regardless of the comparison of cheap or high gas transaction fees, what is clear is that each network has its own advantages and disadvantages, only we as users must be smart in outsmart him, that's all.

[Mr.Scott]

Yep, of course, everyone must feel it, this shows that the devs care and are trying to reduce the very expensive fees due to the surge in transactions and even gwei users reach above 300 if I'm not mistaken.
Now we can feel the fees are quite cheap, for example doing a swap on a swap only costs 5$-10$ which can usually be above 30$/one transaction

I can remember Ether gas fees when it was hike last February, March.. It basically charges big for when we made withdraw, which put me down and upset. After Ether price dropping, it gas fees also drops significantly. Every dApps exchanges quite cheap nowadays, however need to maintain it.

[Shasha80]

Yep, of course, everyone must feel it, this shows that the devs care and are trying to reduce the very expensive fees due to the surge in transactions and even gwei users reach above 300 if I'm not mistaken.
Now we can feel the fees are quite cheap, for example doing a swap on a swap only costs 5$-10$ which can usually be above 30$/one transaction

I can remember Ether gas fees when it was hike last February, March.. It basically charges big for when we made withdraw, which put me down and upset. After Ether price dropping, it gas fees also drops significantly. Every dApps exchanges quite cheap nowadays, however need to maintain it.

It's true that Ethereum gas fees has decreased now compared to February and March, this is not because Ethereum developers lowered the gas fee.
But due to the influence of the falling Ethereum price, now Ethereum is down as much as 40% of the ATH price. This possibility is the cause of
Ethereum gas fees dropping. If the price of Ethereum recovers and rises again, there is a possibility that Ethereum gas fees will also increase.
I'm actually really looking forward to ETH 2.0 release soon, to ensure that Ethereum gas fees go down and can compete with BSC.

[xSkylarx]

Gas fees really drop recently but did this only happen when the crypto market started dumping from their ATH. I remember when ethereum's price is at $4000, its fee is almost 200$. That is already a huge amount even for those who live in the US. Will the fee increase again once ethereum starts to rally again?

And since ethereum is the topic, can someone explain me in simple terms what will happen when eip 1559 is implemented? Does this something have to do with their high fees? I don't understand clearly what it says when I search about it on google.

[dark1234]

Gas fees really drop recently but did this only happen when the crypto market started dumping from their ATH. I remember when ethereum's price is at $4000, its fee is almost 200$. That is already a huge amount even for those who live in the US. Will the fee increase again once ethereum starts to rally again?

And since ethereum is the topic, can someone explain me in simple terms what will happen when eip 1559 is implemented? Does this something have to do with their high fees? I don't understand clearly what it says when I search about it on google.

As far as I know the EIP-1559 is a system that aims to burn ETH every time you make a transaction, so there may be a shortage of Etherium circulating in the future. I don't think it has anything to do with gas fees/high transaction fees on the network.

[Fire Rabbit]

We all wanted a fair transaction cost. I do believe that small altcoins holders are the most affected during the high gas transaction fee. We cannot afford to do transaction due to not enough Eth to execute our plan to sell the token rewards. We all trust and looking forward for Ethereum to maintain low gas fee(we hope).

Yes, and now the fees on the ETH network are so low that you can put your plan into action to sell any coins in small amounts, and no need to whine like that because the developers at ETH always know what they need to do for development their platform.

Thats good news. I left dealing with Eth long ago because of its high transaction fees and started involving in wax blockchain because of its zero gas fee. Anyways now I will be able to play https://play.farsite.online/

[TribalBob]

Now we can make transaction at 5gwie under Ethereum blockchain. Hoping that it will continue and not go back again to a very high gas fee. Many people still use Ethereum even it has a lot of competitors. These development in ETH transaction fees will help to attract again many people to trust and use Ethereum.

We all wanted a fair transaction cost. I do believe that small altcoins holders are the most affected during the high gas transaction fee. We cannot afford to do transaction due to not enough Eth to execute our plan to sell the token rewards. We all trust and looking forward for Ethereum to maintain low gas fee(we hope).

good news gas costs now only 2$ and even then it's fast, when costs are low like this I immediately send all my tokens worth to an exchange that supports it,

[HanaTenun]

good news gas costs now only 2$ and even then it's fast, when costs are low like this I immediately send all my tokens worth to an exchange that supports it,

why rush to do it?
I'm sure the situation will get better. because $2 for each transaction is still too big I think even though it's better. but look at how BSC and some other blockchain chains provide lower fees.
I'm sure it could be cheaper.

[Dollar_Hunter]

good news gas costs now only 2$ and even then it's fast, when costs are low like this I immediately send all my tokens worth to an exchange that supports it,

why rush to do it?
I'm sure the situation will get better. because $2 for each transaction is still too big I think even though it's better. but look at how BSC and some other blockchain chains provide lower fees.
I'm sure it could be cheaper.

Honestly, $2 in one transaction we can say is still a bit expensive if we compare it to Binance Smart Chain,
but at least Ethereum transaction fees are going down little by little and hopefully that will continue,
We'll see what happens and I hope it's cheaper

[Hobo66]

Its good sign that eth gas down , in the current previous days , the big problem of eth was high gas fees , i persnally leave eth due to high eth but now again its good thay eth gas fees very low , eth can't never die

[Alert31]

Yes, and it was a good news to everyone who use Ethereum blockchain. I'm still hoping that it will drop more like in Binance smart chain, transaction fee is just a cent. Well, it's a good sign for Ethereum to attract more demand again after a long time that the transaction fee is too high.

[19Nov16]

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.

If you have pending transactions, do it now and enjoy these low prices. Here (https://etherscan.io/gastracker) the link to track it and below a screenshot to see current prices.

Of course this is good news, ethereum transaction fee should be no more than $1, high transaction fees will make people switch to another, another thing is transaction speed, I  ever sent ethereum and it took more than half a day to get 10 confirmations.

[henmark]

Honestly, $2 in one transaction we can say is still a bit expensive if we compare it to Binance Smart Chain,
but at least Ethereum transaction fees are going down little by little and hopefully that will continue,
We'll see what happens and I hope it's cheaper

That is exactly the reason why we are not seeing anything suddenly dropping like crazy in the BSC world, binance is still holding strong and pancake is still getting a ton of volume, why? Because ethereum is still quite expensive compared to bsc, however that is still a fine deal.

I personally like bsc a ton more and I will keep using it even if the prices were equal (gas fee) because for some reason that looks a lot better polished and ready whereas erc20 ones are rarely any good, that is probably because all the talented ones started a project in BSC during this past 6-8 months because eth gas fee was high and now that it is a bit lower maybe there will be some good new ones there but for the time being there weren't all that plenty starting as erc20 tokens because it was such an expensive one. Let's hope that we will end up with more competition soon.

[Traderbtcc]

good news gas costs now only 2$ and even then it's fast, when costs are low like this I immediately send all my tokens worth to an exchange that supports it,

why rush to do it?
I'm sure the situation will get better. because $2 for each transaction is still too big I think even though it's better. but look at how BSC and some other blockchain chains provide lower fees.
I'm sure it could be cheaper.

From my observations, the only way Ethereum gas fees can be lower than this $2 is when you make transactions at night/midnight, over here I would have to stay up till 2am or 3am to be able to do transaction that will cost lesser than $2, although I agree with you other blockchains offer lower gas fees, $2 is still high but its nothing compared to the crazy gas fees war we had during march, April and May, Ethereum needs to improve on this, a retail trader won't be happy to pay $2+ for every token transaction he makes.

[Noruka]

good news gas costs now only 2$ and even then it's fast, when costs are low like this I immediately send all my tokens worth to an exchange that supports it,

why rush to do it?
I'm sure the situation will get better. because $2 for each transaction is still too big I think even though it's better. but look at how BSC and some other blockchain chains provide lower fees.
I'm sure it could be cheaper.

From my observations, the only way Ethereum gas fees can be lower than this $2 is when you make transactions at night/midnight, over here I would have to stay up till 2am or 3am to be able to do transaction that will cost lesser than $2, although I agree with you other blockchains offer lower gas fees, $2 is still high but its nothing compared to the crazy gas fees war we had during march, April and May, Ethereum needs to improve on this, a retail trader won't be happy to pay $2+ for every token transaction he makes.

I was just about to give this advice you provided. I believe it is mostly the activity of the American market that drives prices up really high, but you transact at the right times you can definitely have fees around $0.70 to $0.80. That finally feels reasonable and makes it also possible to transfer smaller amounts of alts from older accounts and so on.

[shushu9977]

Specially, it is good news for small investor who doesn’t send small amount of eth or other crypto-currency because of high gas fee of ethereum. If now it is still low gas fee of eth, then I will transfer few tokens from MEW.