Why such high fees in ETH?

[Jercyhora2]

So far, we cannot say what impact it will have on the community because we know that the transition to 2.0 is not complete. We had better wait for what might happen in the future. Those affected here by having very high fees per transaction are those who play NFT games. They can’t afford the pain every time they see big or expensive every transaction they make. Especially those who have only known crypto since the emergence of the new P2E trend.

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[hd49728]

It is actually funny. A lot of the Ethereum supporters were claiming that ETH 2.0 will result in lower transaction fee for Ethereum. And almost one year has passed since they started the implementation of ETH 2.0. Right now the transaction fee for ETH remains almost 20 times that of Bitcoin ($4 vs $0.20). I am actually surprised by the fact that a lot of the projects are still sticking with ETH, rather than migrating to the other (more technologically advanced) chains such as BSC or ADA. I guess they need a trigger to do that?

They supported ETH, the upgrade and hoped that it will help gas price is more stable and cheaper. Finally, gas price is not stable and still expensive but now gas price is not an issue that constrain price of Ethereum.

This funny story is good for newbies to learn that reasons they think are reasons to help price rising or to dump price are not real reasons. There are other things behind that affect and manipulate the price.

Upgrades, forks, fud, news, they are not reasons. Price will rise or fall when times come.

[Baimovic]

The fees are high and yet the price of ETH is on the red candles, something is wrong here for sure and hopefully can be address by the team as soon as possible though the fees are purely based on demand, I’m just wondering are they selling ETH for what? I can’t deal with that kind of fees I’d rather not push through and look for some alternatives.

I also thought why when the price of ETH is red the fees given are quite high and if on demand it means someone is pumping these fees, whether it's from a DEX exchange or staking ETH2, which makes the gas go up and their bets will earn a bigger profit. indeed for now it is better to look for other alternatives to reduce the cost of spending gas in ETH.

[tabas]

Most people are moving to sidechains like Polygon and Aurora right now, gas fees are too high for anyone but whales on Ethereum.

Aside from those transactions, there's that much transactions in NFTs too and those transactions are contributing to each other and making the fees high.
I'm waiting until when we see those very little fee for each transaction we do, whether erc20 or eth to eth transaction.

If people continue to spend eth for their transactions then I don't think this higher fees would go down, because as we can see now adoption for lots of erc20 project was consistently growing. NFT projects like crypto games begun to become so popular by now, and definitely players who earned tokens needs ethereum in order to transfer their asset at trading sites.

There's a time for it to calm down, I believe that it will come but not as soonest as we may think because there's still too much transactions that comes in and out.
Remember those times when cryptokitty hits and there were too many ICOs in the market, fees were high because of demand.

[swogerino]

It is actually funny. A lot of the Ethereum supporters were claiming that ETH 2.0 will result in lower transaction fee for Ethereum. And almost one year has passed since they started the implementation of ETH 2.0. Right now the transaction fee for ETH remains almost 20 times that of Bitcoin ($4 vs $0.20). I am actually surprised by the fact that a lot of the projects are still sticking with ETH, rather than migrating to the other (more technologically advanced) chains such as BSC or ADA. I guess they need a trigger to do that?

That trigger need to be big.In Ethereum and mostly in ERC20 tokens there are a lot of projects that have happened over time,some of them pretty successful and it is difficult to annex that.ADA is still relatively new and we have yet to see its potential in terms of projects built into that network just like the projects that were built on Ethereum network.Unless this happens forgot about any other trigger as it won't work at all against Ethereum.

The high fees are as a result of the fees being burnt because of the London hard fork,increased demand and increased activity on the Ethereum network.Let's hope the fees will go down eventually,we cannot do anything other than that as Ethereum is still the most profitable coin to mine right now and I think until it moves to PoS later after a couple of years.

[Sithara007]

That trigger need to be big.In Ethereum and mostly in ERC20 tokens there are a lot of projects that have happened over time,some of them pretty successful and it is difficult to annex that.ADA is still relatively new and we have yet to see its potential in terms of projects built into that network just like the projects that were built on Ethereum network.Unless this happens forgot about any other trigger as it won't work at all against Ethereum.

The high fees are as a result of the fees being burnt because of the London hard fork,increased demand and increased activity on the Ethereum network.Let's hope the fees will go down eventually,we cannot do anything other than that as Ethereum is still the most profitable coin to mine right now and I think until it moves to PoS later after a couple of years.

We are witnessing the high fee levels ever since the end of 2020, much before the London hard fork was implemented. The user base is going up with every passing day, and that means that the transaction volume is unlikely to come down significantly in the future. Lack of scalability is the biggest issue, and I am not sure whether ETH 2.0 will be of any help. Bitcoin was also facing the same issue. But the BTC transaction fee has come down heavily, after a large part of the the transactions moved to the Lightning Network.

This just sums it up:

ETH high gas fee

That is not a problem, it was promised 6 years ago that it will be fixed sooon

[tabas]

We are witnessing the high fee levels ever since the end of 2020, much before the London hard fork was implemented. The user base is going up with every passing day, and that means that the transaction volume is unlikely to come down significantly in the future. Lack of scalability is the biggest issue, and I am not sure whether ETH 2.0 will be of any help. Bitcoin was also facing the same issue. But the BTC transaction fee has come down heavily, after a large part of the the transactions moved to the Lightning Network.

This just sums it up:

ETH high gas fee

That is not a problem, it was promised 6 years ago that it will be fixed sooon

Didn't realized that they've been promising that since long ago. But I've seen those years when Ethereum has always been considered as the best alternative because of its cheap fee.
But now, the setting is different and they now like bitcoin while bitcoin, there's no problem about fees anymore.

[jakasantosa]

I think the Eth Gas fee went up because it followed the selling value of the coin. the higher the price of Eth, the gas fee will also increase. However, my opinion is that Bitcoin affects the rise and fall of Eth, and if it is concluded that the possibility of rising Gas Fees is influenced by Bitcoin's rise.

[int03h]

What's going with gas fees? After the London fork, the gas fees only went up. They raised gas limit, and the blocks are half empty, even 5% - 15% filled, but gas fees are through the roof! It's not about limited capacity right now, yet it's very expensive. What is reason for that?

And what is minimum gasused multiplier?

The recent upgrade is just one of the steps to optimize costs and move ETH to POS in the future. The transaction fee auction mechanism is still the main mode of operation of the Ethereum network.
The reason for this blockchain's recent increase in transaction fees is due to the strong activity of the NFT exchange and DEFI projects on Ethereum.

[herizal85]

I am also confused as to why the cost to send ethereum to indodax is very expensive, even though it was not as expensive as now. I understand that I have been on this forum for a long time so I don't know. And hopefully this will be fixed quickly so that we are comfortable in transacting.

[Sithara007]

I think the Eth Gas fee went up because it followed the selling value of the coin. the higher the price of Eth, the gas fee will also increase. However, my opinion is that Bitcoin affects the rise and fall of Eth, and if it is concluded that the possibility of rising Gas Fees is influenced by Bitcoin's rise.

I don't agree with that observation. The Ethereum Gas Tracker lists average fee for low priority transaction at 121 gwei, which translates to roughly $10. A couple of years ago, the same stood at 20-22 gwei. So in absolute terms, the fee increased by 5-10 times. And this was further amplified by the increase in exchange rates (ETH went up from $100 to $3,900 in the last 3 years). If the increase in exchange rate is the sole reason, then we should be paying similar fee with Bitcoin as well. But the BTC fee levels are extremely low now, with even transactions with fee of 1-2 Sat/Byte getting confirmed ($0.05-$0.10). 

[iTradeChips]

Many Axie players that I have encountered with often complain of the high fees in the Ethereum network. That is preventing them from transferring their ETH to different platforms for the sole purpose of playing the game. I have not encountered people who stopped crypto altogether because they are discouraged by the high gas fees but I can imagine the people who supports many tokens in the ETH network slowly leaving the projects there because they can no longer afford paying the high fees.

[Banulit]

The main reason why the gas fee in ethereum blockchain is so high is because of many people are using the blockchain and transacting on it that makes traffic in the network.

[Permonik]

The main reason why the gas fee in ethereum blockchain is so high is because of many people are using the blockchain and transacting on it that makes traffic in the network.

This is a nonsense which was disproven many times, most of the transactions are almost empty, many of them filled only to 4%. Please just read first page of this discusion thread.

Actually I am hating ETH. The fees killing everything. There is no usecase for normal ppl, because of this fees. It is not feasable to even purchase NFT for 50USD or like that when you will pay 100USD in fees. WTF? 100USD is few months salary in some parts of the World!
Or you can send parcel to the other side of the planet via UPS for that price.

ETH will be done if Vitalik will continue sleeping. Rise of the SOL / ADA will kill it ETH in near future...

[iv4n]

The main reason why the gas fee in ethereum blockchain is so high is because of many people are using the blockchain and transacting on it that makes traffic in the network.

This is a nonsense which was disproven many times, most of the transactions are almost empty, many of them filled only to 4%. Please just read first page of this discusion thread.

Actually I am hating ETH. The fees killing everything. There is no usecase for normal ppl, because of this fees. It is not feasable to even purchase NFT for 50USD or like that when you will pay 100USD in fees. WTF? 100USD is few months salary in some parts of the World!
Or you can send parcel to the other side of the planet via UPS for that price.

ETH will be done if Vitalik will continue sleeping. Rise of the SOL / ADA will kill it ETH in near future...

I agree with you Permonik, for the reasons you stated I abandoned ETH... I have some passive income in ETH, it's the only Ethereum I will use to sell one day... but to use it daily like I used to never again! The same is for all tokens based on the Ethereum platform! And I am not seeing they are doing anything about it, many people don't complain... so it's better for me to quit and focus on some other coins than on f. Ethereum and high fees!

By the way, ADA is making good progress in the last few months, I am thinking to buy more, now or waiting for some drop I am not sure, I will see about that!

[raidarksword]

Gas fees blow up because of network congestion on ethereum network and with so much load up on transactions this certainly happened that's why developers should solve this because people already crying over these huge fees. Many projects already switched to other blockchain due to these problems for so long now and hopefully this will be gone soon for us to be more comfortable.

[midaslordes]

What's going with gas fees? After the London fork, the gas fees only went up. They raised gas limit, and the blocks are half empty, even 5% - 15% filled, but gas fees are through the roof! It's not about limited capacity right now, yet it's very expensive. What is reason for that?

And what is minimum gasused multiplier?

I guess the reason why the gas fee in the ethereum blockchain is really high its because of the bulk of crypto enthusiasts transacting in the network however I think Vitalik is really doing everything to make sure that this issue will be resolved.

[xzone]

I think the Eth Gas fee went up because it followed the selling value of the coin. the higher the price of Eth, the gas fee will also increase. However, my opinion is that Bitcoin affects the rise and fall of Eth, and if it is concluded that the possibility of rising Gas Fees is influenced by Bitcoin's rise.

This issue is actually a bit confusing. When looking at transaction fees, it is necessary to calculate via gwei. Currently, as gwei, the transaction fees are very high, you need to pay a fee of over 100 gwei to transfer.
When the network is not busy, this fee can be as low as 20-30. Always the same thing happens, if the network is busy, you have to pay a very high fee for what you want to send

[BayAngelo]

Same here. i was hoping that after the london fork of ethereum, the solution to the eth high gas fees will be solved. unfortunately, this wasn't true. the high gas fees persist. i just did a transaction on ethereum yesterday and it cost me over 30usd of ethereum to get the withdrawal successful. i have decided to end all transaction on ethereum. untill a solution is found. if not. it is over for me and whatever i have there.

[domoy77]

I guess the reason why the gas fee in the ethereum blockchain is really high its because of the bulk of crypto enthusiasts transacting in the network however I think Vitalik is really doing everything to make sure that this issue will be resolved.

Not only that can affect the expensive Gas costs on the Ethereum blockchain, but a very basic influence is on the price of the Ethereum coin itself, because when making transactions, the Gas that must be provided is in the form of Ethereum, while the current Ethereum price is already very low high, in other words, the amount of several satoshi issued at the time of the transaction will look expensive in terms of dollars, even though the number of satoshi is also almost the same as in the past.