Why ethereum gas price is very high?

[pornluver]

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.

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[bbc.reporter]

This is because the demand for blockchain transactions in Ethereum have become too high causing the pricing out of small holders. This is the cost of decentralization similar to bitcoin. However, as a user if you want cheaper fees you should accept a more centralized design. Binance smartchain, Solana and others are available to use.

[Tytanowy Janusz]

Why ethereum gas price is very high? Recently?

Because it looks like slow and highly decentralized chain is a horrible solution for building an exchanges on it. Its like building a huge sea ferry on a small mountain stream and be surprised that its stuck. Fees will go only higher (with market pump and volatility increase) unless a scaling solution will be implemented to ETH. Scaling solution will lower ETH decentralization and change ETH into BSC that is scalable but not as decentralized ... which is pointless because we already have BSC.

[BitKongy]

I try to stay away from any ETH tokens as we speak, even withdrawal from cex exchanges are insane and yes uniswap is the worst of them all, most of my tokens are on matic and BSC chain, if market pumps harder in coming months it will be very difficult to buy ETH tokens

[cabron]

I try to stay away from any ETH tokens as we speak, even withdrawal from cex exchanges are insane and yes uniswap is the worst of them all, most of my tokens are on matic and BSC chain, if market pumps harder in coming months it will be very difficult to buy ETH tokens

more than $40 I tried yesterday. Switching to an altcoin because even the USDT(ERC20) cost $25 on Binance. What more could happen in the next 5 years.

This is because the demand for blockchain transactions in Ethereum have become too high causing the pricing out of small holders. This is the cost of decentralization similar to bitcoin. However, as a user if you want cheaper fees you should accept a more centralized design. Binance smartchain, Solana and others are available to use.

It's not how it used to be with ETH anymore and I guess a new platform has to exist. BSC is also going the way ETH is. Solana is still cheap, this is probably going to be used more if they will also have coin wrap soon. Polygon could be another.

[Jeger.Kiting]

I try to stay away from any ETH tokens as we speak, even withdrawal from cex exchanges are insane and yes uniswap is the worst of them all, most of my tokens are on matic and BSC chain, if market pumps harder in coming months it will be very difficult to buy ETH tokens

more than $40 I tried yesterday. Switching to an altcoin because even the USDT(ERC20) cost $25 on Binance. What more could happen in the next 5 years.

This is because the demand for blockchain transactions in Ethereum have become too high causing the pricing out of small holders. This is the cost of decentralization similar to bitcoin. However, as a user if you want cheaper fees you should accept a more centralized design. Binance smartchain, Solana and others are available to use.

It's not how it used to be with ETH anymore and I guess a new platform has to exist. BSC is also going the way ETH is. Solana is still cheap, this is probably going to be used more if they will also have coin wrap soon. Polygon could be another.

Everyone has switched to the BNB network which consumes less gas, fortunately Binance has so many options for withdrawals and it's not too expensive if we choose the option using BEP-20 or TRC-20, at least it doesn't cost too much and the transaction process is fast .

I don't know what the miners expect to make ETH to the point of consuming very high gas costs and frustrating everyone, not even just investors, bounty projects also suffer from this gas problem.

[masterrex]

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.

I think not just you or me is wondering why the Eth gas price has become a burden these days I'm an Ethereum user since 2015, and I don't expect this to happen in Ethereum, Now I am convinced that the EIP-1559 update was not designed to fix the gas problem because it made worse compared before that's why I temporarily stop using Ethereum and sold all my Ethereum base tokens to ease the burden of the gas fees.    

[X-ray]

Recently?

It's like $180

Ethereum has small block size but the transaction that needs to be confirmed was more than what can be processed by the block. that makes lots of transactions got stuck in queue. People are speeding their transaction to make the block to process their transaction as it will be placed as a priority transaction by the block. This is triggering the fees to increase as fees calculated by average transaction gas fees in the blockchain.

Buying WETH in ronin becomes expensive.

The cheapest one to buy this from binance. I were sending WETH from my ronin wallet to the binance directly and it's very cheap.

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

Have you checked it before? When you wanna withdraw your ethereum and there will be some options appeared. You can choose WETH on binance to withdraw your WETH to your ronin wallet.

[DapanasFruit]

All I can say is that this is a very sad situation and expensive transaction cost is one of the biggest reasons why we shifted away from traditional way of transfer and yet we never thought that we can even experience a lot higher here in cryptocurrency using the Ethereum blockchain. The sad thing is there is no price control here because of decentralization...it makes me think that all ideas and inventions of man really has some disadvantage aspects and cryptocurrency is not exempted.

[Fallenkeith75]

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.

I think once L2s become more widespread, it should help the gas fees a bit, but the reason that gas fees are high is because ethereum has trouble scaling. The upcoming change to eth 2.0 should also help a bit once sharding goes live, but it's not expected to go live until sometime in 2022.

[nira09]

True, Lately transaction fees on the Ethereum network are very high, even for trading on DEX Exchanges like Uniswap the trading fee is up to $100 USD.
I think this happened because of the large number of transactions on the Etherium network, There were a lot of token sales and a lot of transactions on the DEX exchange. Even yesterday the BSC also experienced problems due to the large number of transactions.

[bigjuk]

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.

Now anything related to ETH will always feel very expensive and even some people say it doesn't make sense but in reality it is a compulsion if there is no other option to save all costs.

[Bttzed03]

Recently?

It's not just recently. I stopped using Ethereum a long time ago but I still remember the congestion caused by a game called crypto kitties. As we all know when a network is clogged, users tend to increase their gas fee in order to send their transactions faster than the rest.

~

I don't know what the miners expect to make ETH to the point of consuming very high gas costs and frustrating everyone, not even just investors, bounty projects also suffer from this gas problem.

Let's not put the blame entirely on the miners especially when the design/code itself couldn't handle the number of transactions on the Ethereum blockchain. Don't forget that it's still on POW and layer 1 just like Bitcoin.

[susuberuang]

I try to stay away from any ETH tokens as we speak, even withdrawal from cex exchanges are insane and yes uniswap is the worst of them all, most of my tokens are on matic and BSC chain, if market pumps harder in coming months it will be very difficult to buy ETH tokens

The only crazy thing is the transaction fee, while if you have a few usdt on the cex exchange, then you can easily buy it and at this point it is very illogical to use a Dex exchange like Uniswap just to buy ETH, because the cost is always a consideration from the start.

[carrigan]

The application of high transaction fees is usually due to the fact that the token price is still very cheap. Just as Bitcoin miners prioritize transactions with the highest mining fees, miners on the Ethereum block are also free to ignore transactions whose Gas price limits are too low. miners can decide to increase or decrease gas usage according to their needs.When needed, gas tariffs can be increased or decreased to avoid a situation where the ETH price increase could result in the need to change all gas prices.

[Warkop]

Many people are transacting with Ethereum and vying to push it faster so Ethereum gas costs are very high and make miners richer to make transactions, and Ethereum owners don't care about this very high gas issue. We recommend switching networks to BNB to avoid high transaction fees so that you no longer burden your transaction fees in the future.

[Hobo66]

everybody knows that Ethereum is one of the most popular coin. Every person want to invest in Ethereum. If the number of transaction increases then automatically the gas fees also increases. You should use some of the master plan to reduce the gas fees for Ethereum. If transaction is low then you should sell the coin.

[sheenshane]

This is because the demand for blockchain transactions in Ethereum have become too high causing the pricing out of small holders. This is the cost of decentralization similar to bitcoin. However, as a user if you want cheaper fees you should accept a more centralized design. Binance smartchain, Solana and others are available to use.

Did you know that the Ethereum transaction fee was significantly higher than Bitcoin this weekend?  It shows a $50 range per transaction and that is a huge amount if we compare it to the Bitcoin transaction fee.

Exactly right, because the Ethereum blockchain network was experienced a high volume of transactions, imagine there are too many projects that have a token based on ERC-21 which is under the Ethereum network.  The same with Bitcoin, Ethereum has a demand and supply that miners vary on it to get incentives per transaction that has a higher fee.

I have been also waiting when Ethereum fees to cool down, I have many tokens and coins that I want to sell on exchange but I can't move them due to these recently high fees.  If there's an option through the BSC network, it's good to grab the opportunity since it was created by CZ to counterfeit with the Ethereum network.

[Alanaz]

I try to stay away from any ETH tokens as we speak, even withdrawal from cex exchanges are insane and yes uniswap is the worst of them all, most of my tokens are on matic and BSC chain, if market pumps harder in coming months it will be very difficult to buy ETH tokens

eth gas is back to being a problem now.
I don't even see my tokens there right now because the gas is quite out of my control for now.
and maybe eth lovers will start complaining about this again.
when pumps and altcoins start to climb, I think it will be very difficult to catch gas from eth, the comparison is very large and it takes many times the fee to get the same and different tokens from the past few months

[cryptoaddictchie]

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.

Im not sure if weth is available on Binance since as far as I know only slp and axs are two of those they are supported using sidechain ronin. Weth becomes only ronin chain when it is inside the ronin chain.

Im sure its only a glitch. $180 fee on ronin is impossible since they are using free gas fee to transact on this chain with 100 slot available daily.