ETH Gas transactions price is about to hit 300 - page 3.

MonsterV

legendary

Activity: 2212

Merit: 1008

Quote from: Convery on August 17, 2020, 05:42:56 AM

Now it dropped to 100 GWEI and it lasts on these levels for more than 2 days. Does it mean that people are using less all DeFi protocols? Could be this an indicator that the bubble is slowly coming to the end? Undecided

gas decreases not because the concept of defi has stopped or getting lose their hype, but the volume of trade in Uniswap is decreasing day by day, that's why ethereum gas is decreasing slowly, as you can see past day the volume trade on uniswap is about $300,000 per day, and today its was $130,000.

you can see the movement of trade volume here :

https://www.coingecko.com/en/exchanges/uniswap#statistics

Convery

sr. member

Activity: 966

Merit: 254

Now it dropped to 100 GWEI and it lasts on these levels for more than 2 days. Does it mean that people are using less all DeFi protocols? Could be this an indicator that the bubble is slowly coming to the end? Undecided

MonsterV

legendary

Activity: 2212

Merit: 1008

Quote from: ?? on ??

Thanks for updating the news. Actually, I didn't check this tracker before making a transaction. Now I think I should do it. But cryptocurrency should be easier to use. Why do I have to visit before any transaction? I found that so many users suggest that they change to another blockchain because of the highest cost. This cost was staying active for more than 3 months.

it depends if the DeFi trend will be active for three months or more, because uniswap is the main reason why gas rises high, every project that uses the DeFi concept will list their tokens at uniswap and sale or purchase transaction that takes place at uniswap has a huge impact on GAS prices , if it continues for up to 3 month and more, I am sure the price of GAS will never drop until 10 gwei or as in the past, unless ethereum finished their Ethereum 2.0 which is rumored can solve this problem, if this condition persists for months "I seem to be moving to another coin like XRP or TRX which has low and cheap transaction fees to transact between exchangers or gambling.

Akoldi_ibk

jr. member

Activity: 1050

Merit: 1

Quote from: MonsterV on August 12, 2020, 05:50:29 PM

i know its sound crazy but its really happend to ETH when i try to send my 0.01 eth to gambling website, im getting shock when see the ethereum gas price is about hitting 300 , currently if you want to get confirmed faster with ETH chain, you need to use 275 GWEI for your transactions is getting confirmated in 2 minute, tell me what are you gonna do with your ETH if you hold some, are you gonna sell and move to other altcoin like in 2017 when smartcontract are very popular with the kitty on ethereum chain?.

dont you think we are on same situations as 2017-2018 when the gas for eth is high people start move to litecoin & dogecoin which have small fee and the both coin getting very pump.

The situation is quite similar to what happened in 2017/2018 crypto year. However, unlike then, the network now have a better and possible solution to address the issue underway. The ETH 2.0 upgrade should tackle this current gas hike further improve the network. For moving of funds around, I use other blockchains with cheap transaction fee.

MonsterV

legendary

Activity: 2212

Merit: 1008

Quote from: landoffaucets on August 16, 2020, 06:14:09 AM

Ethereum fees are nowadays enormous, fees around 30USD are pretty normal, but look at this guy: https://twitter.com/mintbase/status/1293455772374851584/photo/1 - he has to pay 252USD transaction fee to process his transaction. This situation is further unsustainable, Ethereumn 2.0 should come as soon as possible or Ethereum will end badly. Roll Eyes

Lol he is not sending with thats fee, only calculate the fee and tell that why we need that bla bla protocol, i dont think people will use that high payyed fee to doing any transactions unless you're whales that transfering a million billion worth of ethereum, i think 252$ is only a cent for whale LuL Roll Eyes

bassbity

sr. member

Activity: 1092

Merit: 284

Quote from: 50 Cent on August 16, 2020, 01:31:36 PM

Quote from: blue Snow on August 16, 2020, 03:06:21 AM

Quote from: 50 Cent on August 16, 2020, 01:25:41 AM

Shit... I have no idea.
when i try to send my token to market, My transaction still pending since 10 days ago.
I Miss gas back to 5-30 gwei..

Nothing to do, you have to recreate that transaction using high fee. if you using metamask you have to clicking speed up button, resubmits your transaction with a higher gas fee.

You should read this how to solving stuck transaction https://ethgasstation.info/blog/stuck-transaction-guide/

i read it before.
but one times, i got ethereum gas fee unstable..
i found on one hours, gas fee increase from 250 to 350 gwei.
this is useless for me, because i want to small a token with a small amount.

With gas rising to hundreds more do not make transactions because it is very expensive, obviously you will lose if you only send tokens.
Who knows how long this token will be even lower so that transactions will be easier.

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: StreakW on August 16, 2020, 04:40:09 AM

Today August 16 based on https://etherscan.io/gastracker. Ethereum fee is reduced so much, I don't know what happens behind it but I think developers hear so many people complaining about the gas fee and try to fix it.

That's a very nice move coming from the team.

The increase in gas fee annoys more holders and traders, instead of using this chain, they look
for other alternatives to continue their transactions, its best to deal with this and change it back
or make it more reasonable for traders and investors to use the chain more often again.

iv4n

legendary

Activity: 3164

Merit: 1175

Quote from: arufox on August 16, 2020, 12:36:20 PM

Quote from: landoffaucets on August 16, 2020, 06:14:09 AM

Ethereum fees are nowadays enormous, fees around 30USD are pretty normal, but look at this guy: https://twitter.com/mintbase/status/1293455772374851584/photo/1 - he has to pay 252USD transaction fee to process his transaction. This situation is further unsustainable, Ethereumn 2.0 should come as soon as possible or Ethereum will end badly. Roll Eyes

What you mean 30USD is pretty normal?? That's not normal but that's so high. What about poor people, do you think he will say pretty normal??
Ethereum must bring a solution. Because I think a low fee is so important for the crypto world. But do you think ethereum 2.0 will?

This has to change, fees are too high! If they don't sort it out quickly it will affect the price, there's no time to wait eth 2.0, they need to find a solution faster. What I can see is that competitors are using this situation for their own advertising, while eth transaction fees are going up and up, competitors offer faster and cheaper transactions.
Definitely not a good thing for all ethereum users, I am on hold with all my eth transactions, and if I need to make any transactions I try to use the lowest possible fees, a bit more waiting, but what to do, at least its cheaper.

50 Cent

full member

Activity: 519

Merit: 197

Quote from: blue Snow on August 16, 2020, 03:06:21 AM

Quote from: 50 Cent on August 16, 2020, 01:25:41 AM

Shit... I have no idea.
when i try to send my token to market, My transaction still pending since 10 days ago.
I Miss gas back to 5-30 gwei..

Nothing to do, you have to recreate that transaction using high fee. if you using metamask you have to clicking speed up button, resubmits your transaction with a higher gas fee.

You should read this how to solving stuck transaction https://ethgasstation.info/blog/stuck-transaction-guide/

i read it before.
but one times, i got ethereum gas fee unstable..
i found on one hours, gas fee increase from 250 to 350 gwei.
this is useless for me, because i want to small a token with a small amount.

b1k4ng

full member

Activity: 728

Merit: 100

Quote from: 50 Cent on August 16, 2020, 01:25:41 AM

Shit... I have no idea.
when i try to send my token to market, My transaction still pending since 10 days ago.
I Miss gas back to 5-30 gwei..

for that, make sure you always check https://ethgasstation.info/ so that the delivery you do is not delayed for a long time, if you feel that GWEI is very expensive then wait until it's cheap, but I see it is now much cheaper than a few days ago

BITCOIN4X

legendary

Activity: 1974

Merit: 1150

Quote from: arufox on August 16, 2020, 12:36:20 PM

What you mean 30USD is pretty normal?? That's not normal but that's so high. What about poor people, do you think he will say pretty normal??
Ethereum must bring a solution. Because I think a low fee is so important for the crypto world. But do you think ethereum 2.0 will?

No need to worry because you can still switch to other altcoin that have lower transaction fees. Ethereum should make improvement that will increase the interest of user to use it at a low cost. If this continues then I m sure a lot of people will switch to low cost altcoin like LTC or other.

aioc

hero member

Activity: 2926

Merit: 567

Quote from: Horionion on August 16, 2020, 10:07:17 AM

The gas fee is really getting out of hands. Even to send a few dollar coins now, you have to be prepared for a very high gas fee which can be very frustrating at times. I think there are tokens that maintained a very low gas fee. Maybe people will start making use of that in the meantime.

I agree in fact I was about to send $50 to our local exchange from one non custodial wallet and I was shocked to see I was charged $5 for that transactions, I also check if this is true and many of my friends verified this that the fee is way to high that they are converting to Tron or other coins or tokens with less fee but even the trading fee is high.

arufox

full member

Activity: 1119

Merit: 206

Next Generation Web3 Casino

Quote from: landoffaucets on August 16, 2020, 06:14:09 AM

Ethereum fees are nowadays enormous, fees around 30USD are pretty normal, but look at this guy: https://twitter.com/mintbase/status/1293455772374851584/photo/1 - he has to pay 252USD transaction fee to process his transaction. This situation is further unsustainable, Ethereumn 2.0 should come as soon as possible or Ethereum will end badly. Roll Eyes

What you mean 30USD is pretty normal?? That's not normal but that's so high. What about poor people, do you think he will say pretty normal??
Ethereum must bring a solution. Because I think a low fee is so important for the crypto world. But do you think ethereum 2.0 will?

Btra

copper member

Activity: 238

Merit: 0

MYID

This is obvious that when the demand for the coin is growing hence the transaction cost will rise because of the fast movement in the blockchain. For the transaction to be mined first and in short period you need to use more GAS as usual before. So, the ETH transaction may increase further above 300 GAS in the later period.

Denongels

full member

Activity: 812

Merit: 100

Quote from: Leonardo7 on August 16, 2020, 10:22:37 AM

I don't use ETH to move fud anymore, it's crazy. I incure so much fee while trading on ethereum DEX, sometimes, the transaction fails and your transaction fees are still taken by the network. This has cuased me untold woes.

Actually, you can avoid this by estimating the fees not only based on Gwei but also calculating Gas Limit needed to transfer the tokens you want to trade on Ethereum Dex.

Leonardo7

member

Activity: 686

Merit: 15

I don't use ETH to move fud anymore, it's crazy. I incure so much fee while trading on ethereum DEX, sometimes, the transaction fails and your transaction fees are still taken by the network. This has cuased me untold woes.

Horionion

jr. member

Activity: 34

Merit: 1

The gas fee is really getting out of hands. Even to send a few dollar coins now, you have to be prepared for a very high gas fee which can be very frustrating at times. I think there are tokens that maintained a very low gas fee. Maybe people will start making use of that in the meantime.

landoffaucets

hero member

Activity: 1204

Merit: 502

Ethereum fees are nowadays enormous, fees around 30USD are pretty normal, but look at this guy: https://twitter.com/mintbase/status/1293455772374851584/photo/1 - he has to pay 252USD transaction fee to process his transaction. This situation is further unsustainable, Ethereumn 2.0 should come as soon as possible or Ethereum will end badly. Roll Eyes

MCobian

full member

Activity: 1190

Merit: 117

I was one of those people who panicked about the condition of the increase in Ethereum fees, but today the Ethereum fees have
become normal again. Average transactions only require 96 gwei and high transactions with 128 gwei enough. I don't know the cause,
but DeFi projects are still booming. It is possible that the development team did some repairs which would make a drastic reduction
in Ethereum fees.

xOdiumNostrumx

full member

Activity: 1064

Merit: 101

I feel like paying 4$ for a single ETH/ERC20 transaction has become a new normal, I dont even flinch anymore when I see a 5$ fee in MetaMask, or a 15$ fee on uniSwap or Kyber. Its really getting ridiculous, but hey, we are in a bull market, or at least preparing for one, so people are less sensitive and they are more often prepared to overlook the insanely high transaction costs.

Topic: ETH Gas transactions price is about to hit 300 - page 3. (Read 1101 times)