ETH gas fees are low....A great time to get in? - page 4.

Abiky

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Quote from: danherbias07 on June 27, 2022, 02:14:14 PM

For NFT users, yes. This might be their best time to avoid certain fluctuations again in Ethereum-based projects like games or just investments.
There are still more out there who uses the ERC20 and I don't think they will be changing that sooner.
Buy some Ethereum and keep it or directly use that Ethereum to buy NFTs.
An opportunity that might not happen again soon. Not until the Ethereum 2.0 comes out. So for those in rush I'd prefer this cheap time and maximize it as much as possible.

NFTs are a real bargain these days. Especially when their price in ETH terms are unchanged. You can purchase cheap ETH with Fiat to buy NFTs at a huge discount. I'd advise anyone to do as many operations on the ETH blockchain as possible before gas fees rise back to their previous levels. That said, bear markets are a great way for you to expand your wealth in the future. Who knows if we never see sub $1k ETH prices again as the Ethereum blockchain becomes more popular than ever? Just my opinion

Rengga Jati

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Quote from: Abiky on June 26, 2022, 08:51:41 PM

It seems that the persistent bear market drastically reduced ETH's network congestion. Gas fees have been ranging as low as 17 Gwei to 30 Gwei on average.

The transaction is not as high or crowded as when the market is bullish. Commonly this time is the right time to transfer our Ethereum or ERC20 tokens to certain exchanges or other wallets. I am also doing this several times because this is exactly helpful. But of course, we may be waiting for more times again to be able to sell the tokens or ETH itself. For, we know that the price of Ethereum and also most of all tokens are decreasing too much.
However, for some certain ERC20 tokens, I will not consider about the fee transaction, because as long as the tkens still have good price, I will rpefer to transfer and sell the tokens at that time soon before the price crashing. For we know that only evry few tokens that can survive after the price pumped.

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Quote from: Yogee on June 27, 2022, 06:17:56 PM

Quote from: Abiky on June 26, 2022, 08:51:41 PM

It seems that the persistent bear market drastically reduced ETH's network congestion. Gas fees have been ranging as low as 17 Gwei to 30 Gwei on average.

I'm curious where you got this data from. Can you share? I checked etherscan and ethgasnow for comparison and they are giving me over 40 gwei for the lowest priority and it even went up to as high as 70 gwei. That doesn't look like bear market changed anything.

What does eth gas price have anything to do with your decision to buy eth for investment purposes? It's not like you are going to trade a couple of times and spend a dollar worth for each transaction.

I think that was just a short gas fee reduction and it surge back right after having another network congestion. It usually happens when there is a spike in the transactions and this is similar to Bitcoin. We can be lucky if we got the cheap trx fees by now as it was surely last only for a few minutes.
But, this was not the reason to stop and ignore the chance as to whether the gas fee will reduce or not, this will not affect the potential of Ethereum.

Yogee

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Quote from: Abiky on June 26, 2022, 08:51:41 PM

It seems that the persistent bear market drastically reduced ETH's network congestion. Gas fees have been ranging as low as 17 Gwei to 30 Gwei on average.

I'm curious where you got this data from. Can you share? I checked etherscan and ethgasnow for comparison and they are giving me over 40 gwei for the lowest priority and it even went up to as high as 70 gwei. That doesn't look like bear market changed anything.

What does eth gas price have anything to do with your decision to buy eth for investment purposes? It's not like you are going to trade a couple of times and spend a dollar worth for each transaction.

Rigon

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Quote from: Abiky on June 26, 2022, 08:51:41 PM

It seems that the persistent bear market drastically reduced ETH's network congestion. Gas fees have been ranging as low as 17 Gwei to 30 Gwei on average. The native cryptocurrency Ether (ETH) has been declining like crazy in Fiat terms, so it would be a lot cheaper to buy NFTs or do other network operations than before.

Assuming ETH doesn't go any lower in price, would now be a great time to get in? Or should I wait a little longer? Do you think gas fees will soar back up again after the crypto winter settles? Your input will be greatly appreciated. Thanks.

People have moved away from the Ethereum platform as Ethereum transaction Gas Fee has grown exponentially.The only reason behind the loss of popularity on the Ethereum platform was the drastic increase in transaction gas fees.However, as the market is dumping a lot now, the transaction gas of Ethereum platform may have come down.If the market grows, the transaction gas fee will definitely increase.If the transaction gas fee is too high, you can transfer all the coins you have to sell.

serjent05

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Quote from: Abiky on June 26, 2022, 08:51:41 PM

Assuming ETH doesn't go any lower in price, would now be a great time to get in?

ETH had been selling at a discount for some time now, if you have the fund for it why not?

Quote from: Abiky on June 26, 2022, 08:51:41 PM

Or should I wait a little longer?

You can always DCA if the price gets lower.

Quote from: Abiky on June 26, 2022, 08:51:41 PM

Do you think gas fees will soar back up again after the crypto winter settles? Your input will be greatly appreciated. Thanks.

If the network becomes congested then obviously the price will soar back. Or when the price of ETH starts to pick up, the gas exchange value will automatically increase. So if you are worried about the gas fee going up or miss the cheap gas fee then you can allocate some amount to invest while the gas fee is cheap.

danherbias07

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For NFT users, yes. This might be their best time to avoid certain fluctuations again in Ethereum-based projects like games or just investments.
There are still more out there who uses the ERC20 and I don't think they will be changing that sooner.
Buy some Ethereum and keep it or directly use that Ethereum to buy NFTs.
An opportunity that might not happen again soon. Not until the Ethereum 2.0 comes out. So for those in rush I'd prefer this cheap time and maximize it as much as possible.

Cornia

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ETH gas fees are much lower than before, but the gas fees of other networks have been reduced more than the ETH network. ETH network gas fees are rarely available at 17 to 30 gwei. At the time of writing this post, the ETH network's gas fees are 156 gwei which is much higher. I think you should wait longer to get in.

Dessy88

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Many of people accepting bsc network now so i don’t think they will come back eth network quickly. There transaction service fees is biggest so that's why people leave erc20 network. You may knows every transactions has lower fees in bsc network so i personally Won't back erc20. Almost all new projects are now embracing the bsc network so investors will now notice this so the erc20 network is less likely to return.

Mamun74

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ETH gas fee are very low now cz ETH price huge dropped. ETH price already touched $4.8+ in 2021 but it early dropped in 2022.But this month ETH price dropped and reached around $1k.Last 2-3 years ETH gas fee very high. Many people usually using BSC transaction network cz ETH gas fee very high for small investor. I Think this problem will be solved after ETH 2.0 update.

tvplus006

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The decrease in the load on the Ethereum network is directly related to the bear market and a decrease in the activity of traders. But do not forget that the load reduction is also due to the fact that many traders have chosen alternative blockchains with low transaction costs, which can return again when switching to POS.

smartaction

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Ethereum gas fee now very cheap due to the drop Ethereum price a lot. It is a good time to transfer your erc20 token to exchanger if you ar holding token for a long time and you didn’t able to move then for high gas fee. Now you can easily handel Ethereum gas fees. On the other hand it is good for Ethereum coz of it will again attract people to use Ethereum and alao will attract more company for build there token on Ethereum network.

Cryptoababe

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ETH 2.0 is coming so. Gas fee should go lower after ETH 2.0 arrives. For me, this is the right time to get some eth. No matter what time we buy, there may still be another dump. The most important thing is to make profit on the long run.

Samurai trieng

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indeed at this time the cost of ETH gas has decreased, but when compared to the decline in the price of ETH, the gas cost is not comparable to the current price of ETH, because 100 gwei is still very high when compared to the cost of gas from other networks, in my opinion the decrease in gas is because of the decrease in transactions on the ethereum network due to the unstable crypto market so that the transactions decreased drastically.

$crypto$

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The cost of ETH gas is always unstable and I just checked it's still above 100gwei, of course I think it's still high even though the price of ETH has dropped by a few percent, I don't do much attraction on the Ethereum network because the expensive fees make me lazy even though I know I'm logged into the Ethereum network. in its many good prices because this is one of the strong networks and with high prices especially with NFT available on opensea.
The only thing I want is to bridge this network on the new Dex, but I'll think about how to get in after the current price.

kensaii

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It's great for now but then when the market back to bull mode, everything goes back to normal which is back to high gas fees, again. So unless ETH manages and solves those problems one for all with the ETH 2.0 scalable as they promise, we'll be back to square one again.

Tony116

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Quote from: Abiky on June 26, 2022, 08:51:41 PM

It seems that the persistent bear market drastically reduced ETH's network congestion. Gas fees have been ranging as low as 17 Gwei to 30 Gwei on average. The native cryptocurrency Ether (ETH) has been declining like crazy in Fiat terms, so it would be a lot cheaper to buy NFTs or do other network operations than before.

The drop in ETH gas fees to such lows can partly be due to the fact that the price of ETH has dropped significantly, and with a bear market, transactions will certainly not be as crowded as during a bull market. ETH still won't be able to solve the gas fee problem unless it completes the upgrade to the POS network.

Quote from: inthelongrun on June 27, 2022, 02:45:04 AM

I am not going to present a technical analysis, because long term chart shows it is riding with king bitcoin's halving period where ath happens and drops steadily in the next couple of years. But just in case it won't be the same, then you can actually start buying. Huge financial firms usually invest by tranche.

My projection on eth is it may drop as low as $400 range. But I will start buying from $1,000, then $900, down to $400 if ever it happens.

I think the same, ETH will most likely drop to $400 this cycle, although just a prediction with no guarantees but I will wait and only start buying when it drops below $700, I will start spreading buy orders.

Dart18

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Getting in is not actually the problem. It's the transaction fees and getting out. At my last transaction I dealt above $10 just to let it slide in without any problem because once it does, I am spending for nothing.
It's an ERC20 transaction that's why its expensive and I understand it thats why I go way above the average gas price. Now it's still at $6 for an average transaction, that's not fair for those who want to support NFT who can invest easily but getting out is doubtful because of the waste of money.

GelatikKembar

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how can you say cheap?, look at Etherscan Gas Fees are still at $ 1 more,
of course this is still expensive when compared to other blockchains that only require under $ 1,
even BSC Fees are still at $ 0.1 to $ 0.2, I don't know, hopefully Ethereum can fix this when they switch to PoS

Bitstar_coin

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You are very correct, because of the persistent bear period we are currently in it is very cheap to buy any eth base blockchain project, few days ago, i also did the same, bought some tokens of a project that is only currently running on eth network only and the gas fees was relatively low. i was really please with my purchase because for a long time i have not buy any eth base project because of the high gas fees.
This is definitely the best time to load up on those eth projects you wish you could buy when the gas fess was at its peak. once we are out of bear season the transaction fees will go back to its usual high.

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