Why ethereum gas price is very high?

[Doell]

swap trade ethereum gas has been too expensive for a long time and it's been heard that some whales are increasing their fees insanely speed up their transactions ,this is actually a big problem when dealing with high fees for a some trade ,don't force trading by lowering the gas you will lose it because I've tried it

[GreatArkansas]

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.

Using ronin bridge for your ETHEREUM to become Wrapped Ethereum (WETH) is the only way to get WETH if you will not buy on other people (p2p) or using Ramp to for WETH.
That's why if you are just using the Ronin bridge for just a very small value of an asset, better to buy on someone that already has WETH on their ronin wallet to avoid such huge fees.

The GAS fee is much more if using a bridge on ronin, it's not like ordinary transferring of Ethereum/ERC20 tokens to another value since you are interacting with smart contract here.

[Sweetbtc]

Eth is trying to upgrade system and we can hope gas price will decreased.
This upgrade was done to a chain that runs parallel to the current chain that is being, called the Beacon chain.  The Beacon chain IS eth 2.0. Next and final step is to merge Beacon with the current chain to fully implement proof of stake. Maybe as soon as Feb 22

[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

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.

You are right, I hope the next Ethereum upgrades will fix all this insane gas fees, if altcoin season starts it will be almost impossible to start sending ETH tokens to exchanges due to charges

[Bollexz1]

Ethereum gas fee has been denying a small trader like me from trading  . And I think the massive adoption of NFT has someway, somehow contributes to the price hike. We just hope ETH 2.0 have it resolved.

[shiba inu coin]

would it not have something to do with all the people buying will shiba inu coin and fees being pushed up to cash in on it ?

[Quidat]

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.

When you are tending to buy WETH then you could possibly make use of RAMP directly from Ronin wallet. Fees isnt really that high compared when you are trying to buy it directly with Binance or other platforms since fees would really be that high.I dont know on whats happening with the network but this is commonly happens whenever we do have clogged network which do really sucks when you are
dealing with erc20 transactions.

[justdimin]

It is because of higher demand by small investors and the Gas prices keep climbing higher. There are several reasons to hold Eth and small Erc20 tokens that to sell on altcoin boom but fees make it impossible to get an profit.

That's why I feel that decentralized exchanges are always at a disadvantage as compared to centralized ones. There are no such issues and then there are problems of front running bots in the decentralized exchanges which is near impossible to get rid off.

would it not have something to do with all the people buying will shiba inu coin and fees being pushed up to cash in on it ?

That isn't the reason, I am sure. Yes shiba inu has been pushed pretty hard by the community and their owners but there are lots of other tokens as well which are being traded all the time and them along with others is what's causing the price up.

[TheGreatPython]

Ethereum gas fee has been denying a small trader like me from trading  . And I think the massive adoption of NFT has someway, somehow contributes to the price hike. We just hope ETH 2.0 have it resolved.

Obviously with so many tokens created on the ETH blockchain clogs it up and there are way too many transactions made on ERC-20 which is the basic reason for the high transaction cost and the slow confirmations. I believe the eth 2.0 will solve this problem but I am worried whether they have covered the scaling bases because again there will be a huge wave on the blockchain.

I used to transact USDT on the ethereum blockchain but now I am transacting on the tron blockchain as much as possible unless the site doesn't accept TRC-20. Even bitrefill has started to accept USDT on the tron blockchain so everyone knows the problem.

[coin-investor]

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

I have 10 tokens stuck on my wallet that I cannot trade, it all becomes shit tokens because of the cost of trading or transferring it, as much as possible I stay away from Etherem based tokens and it's good to know up and coming projects with potentials are on BSC and MATIC if you are a small trader Ethereum is not for you, I really missed those times where I can send a huge amount of token for pennies.

[Shasha80]

Ethereum gas fee has been denying a small trader like me from trading  . And I think the massive adoption of NFT has someway, somehow contributes to the price hike. We just hope ETH 2.0 have it resolved.

Obviously with so many tokens created on the ETH blockchain clogs it up and there are way too many transactions made on ERC-20 which is the basic reason for the high transaction cost and the slow confirmations. I believe the eth 2.0 will solve this problem but I am worried whether they have covered the scaling bases because again there will be a huge wave on the blockchain.

I used to transact USDT on the ethereum blockchain but now I am transacting on the tron blockchain as much as possible unless the site doesn't accept TRC-20. Even bitrefill has started to accept USDT on the tron blockchain so everyone knows the problem.

The problem of high Ethereum gas fees is not new, I who have been in the crypto world for a long time often experience it. And I believe the Ethereum
team knows this, that's why ETH 2.0 was created to solve the problem of high gas fees. As you said many tokens are created using the Ethereum
network, this is what ends up being a lot of transactions on the Ethereum network, and make gas fees increase. But if we are a little patient, slowly
the gas fees will go down by themselves. But if we do make transactions frequently, there's no harm in considering using another network.

[ene1980]

I have 5 tokens stuck on my wallet that I cannot trade, it all becomes shit tokens because of the cost of trading or transferring it, as much as possible I stay away from Etherem based tokens and it's good to know up and coming projects with potentials are on BSC and MATIC if you are a small trader Ethereum is not for you, I really missed those times where I can send a huge amount of token for pennies.

If you invested in any token built on top of the Ethereum network then you are doomed as there is no idea when the situation will be back to normal but with the speed in which things are moving there is no way the Ethereum team will be able to sort the issues in the network during the rally. Majority of the projects were forced to have alternative chains, if not they will loose the investors and i am not willing to spend $40 per transaction to move some shit coins .

[timerland]

Just growing pains.

Same reason why BTC fees were so high over the last bull run.

Way too many transactions that are happening, including gas wars on NFTs etc. which makes it very hard for your transaction to get a confirmation without a good gas. But once all of this NFT madness dies down I'd think that gas prices should be a lot more reasonable.

[yazher]

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

Ethereum blockchain is not reasonable anymore since they don't fix the fees and when you only decide to send small fees, you end up paying more than you send for the transaction fees. I wonder how will they be able to fix this since no end to this kind of problem since everyone is rushing to send their transactions, they don't really like to wait any longer. They just gonna pay whatever the current gas fees are and it will continue like that till the gas fees rise in just an hour.

[lumierre]

Transaction fees increase when the activity on the market is too high. It is connected with current huge hype of crypto. There is an altcoin season now, so there are many people who are interested in trading. There are moments when activity becomes lower, for example on Sundays and evenings of Fridays, so you can try wait for decreasing. Also you can just switch to a cheaper blockchain such as Polygon or BSC.

[nur rochid]

Ethereum gas fee has been denying a small trader like me from trading  . And I think the massive adoption of NFT has someway, somehow contributes to the price hike. We just hope ETH 2.0 have it resolved.

The settlement of Gas fees on the Ethereum network will not occur in the near future or when ETH 2.0 is happening because that has already happened and the impact on Gas fees transactions is not there at all as it is due to the price increase occurring on Ethereum itself.

this will be felt when making a transaction at a small nominal then the cost feels very large. we can't be sure when it will return as before, but at least we can choose a time that is not during peak hours to make transactions, so the fee will be cheaper than us doing transactions during peak hours

[piebeyb]

actually this problem has been discussed in many threads on this forum, ETH has not been able to overcome the problem of expensive transaction fees that occurred in ETH even though they have used a system of burning transaction fees, but I still think crazy people use higher gas to get transactions faster

I'm sure people don't understand how to regulate gas fees so they continue to make transactions with higher gas it's annoying, I believe ETH 2.0 will not help solve this problem, I'm more comfortable using other blockchains like BNB BSC and MATIC polygons are more attractive and inexpensive

I'm not a rich person who likes to burn hundreds of dollars just for transactions on ethereum

[tarable]

Ethereum gas fee has been denying a small trader like me from trading  . And I think the massive adoption of NFT has someway, somehow contributes to the price hike. We just hope ETH 2.0 have it resolved.

But until now this has not been resolved by Ethereum where the price increase on Ethereum also continues to soar so that it is still very reasonable to happen even though it is not at all suitable for them as small traders.

[kojektea]

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.

[2girls]

In this point i said that not anyone know that why the etherium gas fee is so high. But everyone use a BNB and the BNB Gas fee is so low to compare the etherium and the Transaction speed is high so my opinion is that ETH solve this issue and this point the BNB use and price is increase very fastly.