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Author Topic: When ETH GAS Price will stable? We paid 33.74$ GAS price for 10$ token transfer.  (Read 366 times)
yazher
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October 10, 2021, 02:07:32 AM
 #61

There is nothing we can do with it especially when the other will not care whether they pay up to that much. This is where we stuck our transactions if we don't follow the current gas fees because other who are making transaction will continue to pay that rate and mostly they are willing to pay a little more just to rush their transactions which lead to our low fees transactions to be delayed after the gas fees will be subsided.
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October 10, 2021, 05:07:14 AM
 #62

Don't use ETH, bridge to NEAR and trade on Ref Finance. The bridge is trustless and transaction fees are a fraction of a penny. Transactions have two second finality. I'm never going back to Ethereum.
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October 10, 2021, 05:48:28 AM
 #63

To make transactions on the Ethereum network does cost a lot of money, and this already makes people feel uncomfortable. For this reason, avoid making transactions during peak hours, there is no guarantee for this but there is no harm in trying. Many crypto experts think that the launch of Ethereum 2.0 and EIP 1559 could be the solution.

The currents gas price is very high. It's also very volatile within a few minutes. Last night I need to do some transactions on the Ethereum blockchain. First I use 83 GWEI and it was very fast. after a few minutes, I made another one and I check the gas price, it was about 60 GWEI. So I tried to use 57 GWEI and made the transaction. Within 20 minutes its also succeed. So if anyone really needs to do some transaction, Don't hurry. Wait for a good time when the GWEI price reduces, you can make transactions easily. If you don't have any hurry, You can use less GWEI for the transaction also. but keep in mind, don't get stuck with Ethereum network transactions. First, check the current gas price and after that make a transaction.

ETH 2.0 already launched but gas fees not reducing.
All of the people waiting for this solution. I Hope the Ehereum developer will solve this problem as soon as possible.
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October 11, 2021, 09:25:06 PM
 #64

I think ETH biggest problem is GAS price. Today we paid 33.74$ GAS price for 10$ token transfer.

https://etherscan.io/tx/0xc09e5515f8f53b88b9bd4063a33ce8368f9bf0e8e86ebf4c14b86d25d874161b

What do you think, is there any possibility for ETH GAS price will stable?

This has been something that's been discussed about many times already. GAS fees will remain high as long as ETH's network capacity is limited. The more people use the ETH blockchain, the higher the fees will be in the long term. Scaling solutions like PoS, Sharding, and off-chain layers like Polygon (MATIC), Optimism, and Arbitrum aim to put high gas fees to rest once and for all. Some of these scaling solutions are already functional, while others are still under heavy development. I'd suggest you either use one of the aforementioned scaling solutions or simply wait until fees decline on the network.

A good time to make ETH-based transactions is during weekends. Fees are usually low at that time, especially very early in the morning. If you don't want to wait or use a separate scaling solution, then you can simply switch to another blockchain network like Binance Chain, Solana, or Polkadot. Fees will decline eventually as network upgrades are rolled on the ETH blockchain. So to answer your question, yes ETH GAS price will stabilize after subsequent network upgrades. You just need to be patient in order to see great results in the future. Just my opinion Smiley

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October 16, 2021, 10:36:21 AM
 #65

You should always double check the Gas fee on your transaction before processing it's not like that Gas fee is always remain high we have to check it on regular interval to avoid paying unnecessarily high fees but I must say Vitalik must work on reducing Gas fee to increase the usage of ethereum as a mode of transfer otherwise traders choose other altcoins to transfer due to the less charges.

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October 16, 2021, 11:21:32 AM
 #66

The highest transaction fee that I’ve paid so far was almost $60 while converting my token to ETH on Uniswap. But good thing that token is worth more than $300 at the time of the transaction before it dumped even further. So I took the risk rather than getting even much more lower amount.

Most projects right now are switching to Binance Smart Chain, Solana, Polygon, etc., due to Ethereum’s exorbitant gas fees. I am holding ETH until now because I still believe the price of the coin could go even further. Almost touching down $4k now. Until Ethereum 2.0 is already in play, now we can finally say goodbye to these ridiculous gas fees.

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October 19, 2021, 02:48:55 PM
 #67

The highest transaction fee that I’ve paid so far was almost $60 while converting my token to ETH on Uniswap. But good thing that token is worth more than $300 at the time of the transaction before it dumped even further. So I took the risk rather than getting even much more lower amount.

Most projects right now are switching to Binance Smart Chain, Solana, Polygon, etc., due to Ethereum’s exorbitant gas fees. I am holding ETH until now because I still believe the price of the coin could go even further. Almost touching down $4k now. Until Ethereum 2.0 is already in play, now we can finally say goodbye to these ridiculous gas fees.

It's insane. Who'd want to pay exorbitant fees just to transfer tokens from one address to another? Only whales and the wealthy will be able to afford paying extremely-high gas fees on the ETH blockchain. The rest of the people will be forced to wait longer or switch to an alternative blockchain network.

Fortunately, projects built on Ethereum are beginning to use off-chain scaling solutions. High gas fees will no longer become an issue as most projects switch to a second layer for scalability. Besides, ETH 2.0 is on the way. With PoS, Sharding, and several network improvements, high gas fees will become history. It's all a matter of being patient to see good results in the future. I wouldn't worry that much about the gas price as long as there are solutions to remedy the issue. Just my thoughts Grin

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