Topic: Best & worst time to trade Ethereum? (Read 311 times)
When it comes to doing transactions on the entire blockchain it better done early in the morning and late at night let say from 11pm the ethereuem network free. And transactions come with lower fees and congestion.
There's no best and worst time to trade ETH. You can do it anytime you want.
What you need to think about is a strategy that can keep up with the ETH market.
Right now, ETH is having crazy fees so you have to pay attention to it when transferring within the ETH network.
What you need to think about is a strategy that can keep up with the ETH market.
Right now, ETH is having crazy fees so you have to pay attention to it when transferring within the ETH network.
When it comes to doing transactions on the entire blockchain it better done early in the morning and late at night let say from 11pm the ethereuem network free. And transactions come with lower fees and congestion.
It's better to always check the network if it's loaded or not or if the fees are low through: https://ethgasstation.info/Like now, it's 332 gwei which is quite high. There are other experiments conducted that it's better to do transaction during the weekends but I don't that's still working because most people are still at home and possibly transacting from their several ETHs use.
According to this chart, the Ethereum blockchain is busiest from 1 PM UTC to about 6 PM UTC average.
https://cointelegraph.com/news/here-are-the-best-and-worst-times-of-the-day-to-use-ethereum
Definitely there could be some "smaller" periods but the reality is that the difference is not big enough to chase those minutes neither, it is definitely something that is too small to decide if it is worthy or not. I personally would trade anytime I want if you ask me because I would rather act quickly before I could try to find a better time. Right now I have a lot of small coins that worth nearly nothing compared to the network fee, so instead of trying to chase that, I am trying to just figure out how ETH fee could ever go down.
No need to complicate things. Just use https://etherscan.io/gastracker to know whether the gas fee required is high or not so decide whether you want to broadcast your transaction with such amount. The average value might be lesser at that time period you mentioned but still it is going to keep changing according to the volatility of the price.
The volatility didn't mean a lot in the gas price. The traffic in the blockchain does it as it has scalability problem. There are so many things that can affect the gas price. The block itself will be also affecting how much gas that consumed by the senders to be confirmed by the block. Sometimes there's a block that consumes less fees than average fees but in another time there is also a block that consumes more fees than the average gas fees.
So you want to use a chart to enter into crypto trading? Thinking that crypto trading is time base is the biggest mistake you will make, you need to learn the basics skills of trading, not some useless chart
It looks like that you don't understand what OP is showing us.
The graph shows different Ether fees during the days and when it's cheaper to make a transaction. I find it very useful.
Trading is all about strategies, people still trade and make profits out of bear markets and bull market, if you are a pro trader you won't worry about a certain time to make profits from trading, for a pro every time is a good time
Please, read the thread again before try to create a post about that. It seems like you are missing the topic. It's about when the time that the fees on ethereum will be cheap and the traders can trade with the small fees.
So many people are having the same problem with the fees on ethereum chain and that doesn't make sense to pay two digits just to send a single transaction.
That's why OP was trying to tell us about the possible time to get the cheap fees on ethereum network.
According to this chart, the Ethereum blockchain is busiest from 1 PM UTC to about 6 PM UTC average.
If time from 1 PM to 6 PM UTC is busiest time on Ethereum blockchain, people would avoid those hours if they want to save transaction fees. Busiest means highest fees.I don't know it is best to trade or worst. The article writes about Ethereum hourly fees. Trading is correlated to price changes, big or small. Changes should be big but it is not applied for all trading strategies. If you use Scalping trade, you don't need to have big changes.
It is difficult to say at what time it is best to trade Ethereum or other cryptocurrencies that are created on the Ethereum blockchain, because the activity of transactions on the Ethereum blockchain is constantly changing and therefore you constantly have to make transactions at different times, but in general, you need to try to bypass the transfers of cryptocurrencies that are created on the Ethereum blockchain as much as possible until Ethereum 2.0 will solve the problem of too expensive transactions.
What worse thing there is if they buy ethereum at the peak at suddenly the market collapsed I'm sure that's where the panic start and many including those people who buy at the peak will start to sell their bough coins and lose their money in short period of time that's why it's better to buy when price is cheap and the perfect time for me is when the price is dumping so hard.
According to this chart, the Ethereum blockchain is busiest from 1 PM UTC to about 6 PM UTC average.
When the network load is reduced, the transaction fee is also reduced. Also at this time, you can make an exchange with a lower commission through decentralized exchanges. On centralized exchanges, the workload of the ethereum blockchain does not matter when trading.
Best or worst depends on your own decisions, I personally think that those who are holding ETH now will feel satisfied. Most of the new entrants bought ETH above $1000, and my friends and I started buying ETH when it went below $100. And why did I tell you above, when your position in the market is different, you will feel best or worst.
Trading is all about strategies, people still trade and make profits out of bear markets and bull market, if you are a pro trader you won't worry about a certain time to make profits from trading, for a pro every time is a good time
, so this is a complaint for some people, because Gwei's fees can also affect the price of tokens that are soaring upwards.
The majority of complaints were coming from the dex users. When you are seeing the market and I guess you will be seeing the price of ethereum is rising again and that gives very bad impact to the gas price of ethereum. Look at this
https://etherscan.io/tx/0xddaef8b6e2fe3a7de82054d9ab9b6c5c962015069a8185c241b194a13331ef18
$35 only to pay the fees to trade on uniswap. The worst thing that I have ever seen this day is the ethereum fees. Anytime.
According to this chart, the Ethereum blockchain is busiest from 1 PM UTC to about 6 PM UTC average.
https://cointelegraph.com/news/here-are-the-best-and-worst-times-of-the-day-to-use-ethereum
This was just according to your opinion only, chart is just a guideline but not an assurance for us to get a nice profit.
Aside from that I am just using chart depending in the exchange that I've used every I made an activity in terms of day trading
in cryptocurrency. In short, I am not depending all my analysis in the chart only, that's it!
No need to complicate things. Just use https://etherscan.io/gastracker to know whether the gas fee required is high or not so decide whether you want to broadcast your transaction with such amount. The average value might be lesser at that time period you mentioned but still it is going to keep changing according to the volatility of the price.
The volatility didn't mean a lot in the gas price. The traffic in the blockchain does it as it has scalability problem. There are so many things that can affect the gas price. The block itself will be also affecting how much gas that consumed by the senders to be confirmed by the block. Sometimes there's a block that consumes less fees than average fees but in another time there is also a block that consumes more fees than the average gas fees.
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I think that OP is referring to trading on Uniswap or some other DEX that operates on the Ethereum network. He's not talking about trading ETH on Binance or some other CEX. I read that info somewhere few days ago and it's true - Ethereum fees are smallest in the time that OP suggested.
Absolutely, that's right as including chart is about summary of ethereum gas fee when it's on which position ( Extreme high or low). Also, OP's title is a kind of confusing because there are no fixed time to trade, but it might be matter a lot for dex where ethereum gas fee is the main thing to excute any trades.
No need to complicate things. Just use https://etherscan.io/gastracker to know whether the gas fee required is high or not so decide whether you want to broadcast your transaction with such amount. The average value might be lesser at that time period you mentioned but still it is going to keep changing according to the volatility of the price.
Ethereum's price now is very close now to its all-time-high.
I will be more positive if Ethereum will not rejected from its all-time-high, creating new all-time-high for Ethereum is a bullish sign to me. That's why I still don't buy Ethereum in past few days, since I am afraid for the price action of Bitcoin, it may affect Ethereum too.
I will be more positive if Ethereum will not rejected from its all-time-high, creating new all-time-high for Ethereum is a bullish sign to me. That's why I still don't buy Ethereum in past few days, since I am afraid for the price action of Bitcoin, it may affect Ethereum too.
It doesn't have good accuracy. I have been watching it and sometimes it goes down but it can increase anytime. I don't know why but i have seen so many zero transaction in ethereum network that was putting very big fees to the block. I suspect those transactions have been created to increase the ethereum fees.
I don't see how could anyone except miners benefit from the high Ethereum fees. Also, I don't think that a person can artificially increase fees just by sending empty transaction with high gas fee. Maybe those empty transactions were just newbies who made a mistake while sending tokens or ETH.
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