Why ethereum gas price is very high?

[JeWay]

The factor is that queues on instant exchanges require high gas to get the earliest queue. The exchanges I mean are like uniswap and 1inch. These two exchanges are the main factors that make ethereum gas even higher.

Since the high cost of Gas on Ethereum I have started to leave both exchanges and it is very rare to even see it again, especially if to make a transaction there must have a capital of around $180 in general, this is clearly very unreasonable.

[Snappycoco]

Lots of transactions are being utilized thats why gases are getting higher. I don't think that this could be solved in the upcoming months but I think ETH2.0 deployment of other phases of the upgrade could lessen up this price hike. Another thing is that EIP 1559 wasn't helping at all. 180$ is high, thats why I think other chains should step up and beat this up.

[vermigerous]

It is because Ethereum network got famous nowadays and Ethereum coin has the most growing altcoin in crypto market and has the most volume. Unlike when it price is just under 300 usd, the gas fee ranged from 0.3 usd up to 1 usd, but now as the demand grows for ethereum network, the gas fee takes a high paying price, and then many investors and traders transfers from ethereum network to binance smart chain because of BSC network has only low gas fee for a transaction.

[btcltcdigger]

Recently?

It's like $180

Buying WETH in ronin becomes expensive.

I've heard binance allows that. However, we can't buy WETH in binance. There is no such market.

High price of Ethereum, and high demand for ETH computing power, makes the network congested, and thus increases the price in GAS for transfer or smart contract interactions.
It0s basically question of supply and demand

[nitin8263]

Ethereum gas price is very high because Ethereum is going to popular day by day and price of this coin is increasing so demand of this coin is too high.

[MIner1448]

Recently?

It's like $180

Buying WETH in ronin becomes expensive.

I've heard binance allows that. However, we can't buy WETH in binance. There is no such market.

To be honest, the inode price for az in the Ethereum network reaches unrecognizable amounts, inode it is very annoying. What is the reason? Because this is the very first network that implemented transactions on the network, it is very popular and there are a lot of transactions on the network ... If such amounts remain, then I think many will change this network for another, because there are already many others and much cheaper.

[Naficopa]

Ethereum gas price is very high because Ethereum is going to popular day by day and price of this coin is increasing so demand of this coin is too high.

Unfortunately, this is not entirely true. This is in some way related to the popularity of Ethereum, but not directly. As you wrote, popularity influences the price increase and also the number of transactions in the Ethereum network. And it is the increase in the number of transactions that makes the gas fee grow.

[aseprebel]

Recently?

It's like $180

Buying WETH in ronin becomes expensive.

I've heard binance allows that. However, we can't buy WETH in binance. There is no such market.

ETH gas prices increased more than 20 times over the time of 2020, Ethereum was the original blockchain to introduce smart contracts. There, in turn, allowed developers to build decentralized applications. With an increasing number of apps built on top of the blockchain, the network quickly became congested, and gas prices went up.

[Mamun74]

ETH gas fee increased in 2020.This year ETH gas fee more increase. But BNB network transaction gas fee is too low.Now many people use BNB transaction. Recently ETH network transaction is very high gas fee and single transactioner face that problem hugely. I thinks they will be update 2.0 and solve this problem this year.

[Valak]

Simply put, gas fee is the fee you have to pay if you want to make transactions on the Ethereum network. More precisely, it is a fee paid to miners as compensation for completing transactions on the Ethereum network. The more calculations (calculations) are required to complete the transaction, the more gas is required to complete the transaction.