Gas Fee Of BNB Is Increasing

[Scripture]

It is like water, trickle down to the lower leaf. Since assets from ETH network is very much bloat with so many transaction and high rate of gas fee. People have to use something else to transfer their assets and BNB is easily the choice cause it also had a strong connection to Binance.

This could be a good reason and still cheap compare to ETH who’s gone crazy fees again in the past days. Well, how much is the most expensive fees on BNB? May a $100 or less still low compare to the ath fees of ETH. Once the traffic has gone, the fees will be back to normal for sure so don’t panic because BNB still good.

[LordMiguel]

it is expected and it will continue if Binance price continues to raise. i doubt if they can resole this issue of gas fees. i want to assume that all smart contract platforms will continue to experince issues like this. gas fess increasing in parallel to the token price. ethereum is yet to resolve this issue and binance might follow suit and so with all other smart contract platforms. gas fees remiains the only obstacle for smart contract cryptoprojects.

[AhmadM]

All eyes are on the BNB due to the increase in Ethereum's gas fee. Thinking about the beginning, it can be understood that the BNB's gas free is increasing day by day. Although I don't know the exact reason behind it, the curiosity is there.

You are already aware that recently lots of people have picked eyes on BSC due to the surge fees on ETH networks, not gonna complaint if the fees on BSC increasing a little bit which isn't really an issue for the community I guess. Since both the demand on BSC network and the value of BNB increasing so it's not surprising transactions queue would be loaded as well.

[TelolettOm]

Yes, seeing how increasing the ERC20 gas fee is, it may be due to the increasing transaction because the bullish market is probably heading.
And about the increasing gas on BNB or BSC network, it seems very normal. If the network is being busier and busier, many more people using that network, the transactions will be many more. It will influence the process of transferring.
That is why there will be some increasing gas fees. Fortunately, the gas of the BSC network is still low, not as high as ERC20

[7788bitcoin]

Yes, seeing how increasing the ERC20 gas fee is, it may be due to the increasing transaction because the bullish market is probably heading.
And about the increasing gas on BNB or BSC network, it seems very normal. If the network is being busier and busier, many more people using that network, the transactions will be many more. It will influence the process of transferring.
That is why there will be some increasing gas fees. Fortunately, the gas of the BSC network is still low, not as high as ERC20

The fees of ETH is around $50 to make a transaction if you are purchasing any NFT and it is really frustrating if the bid does not go through you end up missing the gas fees and you cannot even compare that to any other coin in the market. Today i made a few trades in Pancakeswap and i did not really notice the high fees the OP is talking about, if i remember correctly i spent around $0.5 per transaction.

[bhooscream]

matic is a good solution among other blockchain network including ERC-20 and BEP-20.

According to the information about gas fee you enclosed above, it is clear BEP-20 which has the cheaper price. Why do you think Matic is the best solution? Although there is an increase of gas fees, I think BNB is still better than Matic or Ethreum. We shouldn't be panic and too easy saying that BNB gas fees are expensive. I think it is still normal, the gas fee becomes higher probably is caused by the increase in transactions. Just wait the number of transactions is decreasing, if you want the gas fee cheaper.

[Questat]

All eyes are on the BNB due to the increase in Ethereum's gas fee. Thinking about the beginning, it can be understood that the BNB's gas free is increasing day by day. Although I don't know the exact reason behind it, the curiosity is there.

That probably was the demand for both the miners and exchanges. Like many others, as long as the demand is getting high, they also have to increase the fees. But I'm going to be afraid if this could be like ETH?

But anyway, as long as it was still accepted by the majority, that gonna be fine and this sure it comes. But if the moment that it wasn't fair enough, that gonna be the time to take action and stop using BNB. If the team will let this thing happen to them, they are simply giving away to choose another platform.

[AmoreJaz]

All eyes are on the BNB due to the increase in Ethereum's gas fee. Thinking about the beginning, it can be understood that the BNB's gas free is increasing day by day. Although I don't know the exact reason behind it, the curiosity is there.

That probably was the demand for both the miners and exchanges. Like many others, as long as the demand is getting high, they also have to increase the fees. But I'm going to be afraid if this could be like ETH?

But anyway, as long as it was still accepted by the majority, that gonna be fine and this sure it comes. But if the moment that it wasn't fair enough, that gonna be the time to take action and stop using BNB. If the team will let this thing happen to them, they are simply giving away to choose another platform.

sooner or later, they will increase their fees as the demand gets higher and higher. just like eth, if you want to move your tokens at a faster rate, you will pay higher gas fees. can binance team find a way not to increase their fees while accepting a lot of transactions in their network? if they can, that would be great. but expect that fees will change in the coming years. i don't think every network can maintain their original fees while maintaining their business operations.

[livingfree]

Yes, seeing how increasing the ERC20 gas fee is, it may be due to the increasing transaction because the bullish market is probably heading.
And about the increasing gas on BNB or BSC network, it seems very normal. If the network is being busier and busier, many more people using that network, the transactions will be many more. It will influence the process of transferring.
That is why there will be some increasing gas fees. Fortunately, the gas of the BSC network is still low, not as high as ERC20

Yes, that's one reason.

More transactions and it is not new when the transactions for Ethereum have been on the high price, there's always the effect of it and that is to have high fee.

[erep]

According to the information about gas fee you enclosed above, it is clear BEP-20 which has the cheaper price. Why do you think Matic is the best solution? Although there is an increase of gas fees, I think BNB is still better than Matic or Ethreum. We shouldn't be panic and too easy saying that BNB gas fees are expensive. I think it is still normal, the gas fee becomes higher probably is caused by the increase in transactions. Just wait the number of transactions is decreasing, if you want the gas fee cheaper.

BNB gas fees are currently among the cheapest so they are friendly in trading for short-term profits on the exchange dex, it is very reasonable if at certain moments the BNB gas fee increases slightly due to increased transactions. The number of altcoins in the BSC network has increased dramatically because traders are not worried about trading all the time regardless of transaction gas fees.

[TastyChillySauce00]

Yes, seeing how increasing the ERC20 gas fee is, it may be due to the increasing transaction because the bullish market is probably heading.
And about the increasing gas on BNB or BSC network, it seems very normal. If the network is being busier and busier, many more people using that network, the transactions will be many more. It will influence the process of transferring.
That is why there will be some increasing gas fees. Fortunately, the gas of the BSC network is still low, not as high as ERC20

BSC gas is still very cheap compared to ETH for token in my opinion. I personally think it's because the investors in BSC are increasing and starting to prefer this platform compared to ETH. But, because the fee in BSC is also increasing compared to the fee that usually needed, in my opinion many people started to think if BSC gonna follow ETH in term of fee and become as expensive which I don't think will be happening to BSC because the fee can go down again anytime.

[yazher]

All eyes are on the BNB due to the increase in Ethereum's gas fee. Thinking about the beginning, it can be understood that the BNB's gas free is increasing day by day. Although I don't know the exact reason behind it, the curiosity is there.

The price might increase but they can't beat Ethereum's network with it and I think BSC has a chance to minimize the fees because they are better than Ethereum at all. Unlike the kardia chain where gas fees are almost zero I think it's time for them to change their perspective about their network because if they keep charging fees like that high, about 2-3 years from now, no one will use their network anymore since nowadays everyone can migrate to the lowest fee network if they really want to.

[Bttzed03]

~ but the fees on BSC network has certainly increased. I'm paying over a dollar for some actions or exchanges now.

Really? On what exchanges? I have been very active with BSC in the past couple of weeks but I have never spent that much in any exchange/platforms. The most expensive was probably around $0.20

Standard gas price has remained at 5 gwei while gas limit is 250K for most platforms I used (still less than $1 even if gas limit is at 500K).

[Sithara007]

The price might increase but they can't beat Ethereum's network with it and I think BSC has a chance to minimize the fees because they are better than Ethereum at all. Unlike the kardia chain where gas fees are almost zero I think it's time for them to change their perspective about their network because if they keep charging fees like that high, about 2-3 years from now, no one will use their network anymore since nowadays everyone can migrate to the lowest fee network if they really want to.

Nothing is permanent in the world of cryptocurrency. Even Bitcoin is not guaranteed of its no.1 spot. And with Ethereum, the no.2 place is even more shaky when compared to BTC. ETH hasn't faced any great competition for the last 2-3 years. Only now its competitors such as ADA and BNB are gaining global acceptance. There are two main issues with ETH now. The first one is very high transaction fee (although it has come down a bit in the recent weeks). The second one is low security offered by the ERC-20 chain. Both these issues are not being addressed by the developers in a time bound fashion.

[inanilujimi]

~ but the fees on BSC network has certainly increased. I'm paying over a dollar for some actions or exchanges now.

Really? On what exchanges? I have been very active with BSC in the past couple of weeks but I have never spent that much in any exchange/platforms. The most expensive was probably around $0.20

Standard gas price has remained at 5 gwei while gas limit is 250K for most platforms I used (still less than $1 even if gas limit is at 500K).

Maybe you can see this
https://bscscan.com/tx/0xd346503597adbac7fd3ce51f715f13b5b2568ec91b13bb3b162018298e2ec1d2

sometimes there are tokens that are intentionally made with high gas fee.

[Bttzed03]

~ but the fees on BSC network has certainly increased. I'm paying over a dollar for some actions or exchanges now.

Really? On what exchanges? I have been very active with BSC in the past couple of weeks but I have never spent that much in any exchange/platforms. The most expensive was probably around $0.20

Standard gas price has remained at 5 gwei while gas limit is 250K for most platforms I used (still less than $1 even if gas limit is at 500K).

Maybe you can see this
https://bscscan.com/tx/0xd346503597adbac7fd3ce51f715f13b5b2568ec91b13bb3b162018298e2ec1d2

Take a look at how many routes that transaction went through. It's only natural that whoever made that trade had to pay for such high fee.

sometimes there are tokens that are intentionally made with high gas fee.

So that means it's not on the BSC network why transactions made are so high. Apart from the devs setting up a high minimum gas limit, it's also on how the users choose the best route for swapping/trading.

[reza7777]

The reason for the increase in BNB gas is because more people are using it and it causes congestion but it's not a big problem because gas is still under $1, in contrast to ethereum which can reach $50 when the network is congested

[pjwaffle]

All eyes are on the BNB due to the increase in Ethereum's gas fee. Thinking about the beginning, it can be understood that the BNB's gas free is increasing day by day. Although I don't know the exact reason behind it, the curiosity is there.

Currently, BNB gas fees are quite high and seem to be affected by the increase of ETH or also by ETH gas fees that BNB is affected. Now that the price of BNB has increased, it is certain that an increase in BNB gas is inevitable.

[Orange89]

It may because of the increasing supply of transaction not only bnb but also Other platforms are also seen increase in their transaction price it is definitely a big concern of increasing in the price of BNB as mostly network these day launch their project on Binance smart chain and if someone wanted to buy he need to pay a decent way but as compared to ETH network i think it is quite low as well IF ETH 2.0 is lauched i think all concern will be solved but still don't have any idea when it will launched hope it will launch soon

[masterrex]

I think the Binance Smart Chain (BSC) gas fee, is not that high to cause any concern or trouble, because I use it now it remains 5 Gwei and cost me $0.04 cents of BNB which is still manageable compare to Ethereum.

But it was slightly changed when you are using the Dex Like PancakeSwap and Etc. because you are burning gas in two transactions during the smart-contract execution which cost you $1.88 of BNB in both transactions, Which is still cheaper compared to Eth. I believe also that BNB prices contribute some slight increase of the BSC transaction fees especially when we are using DeX.