Lately ETH fees have been skyrocketing and I have been paying 50 cents for a normal eth transaction and over $1 for contract functions. Used to be a few pennies at most to get your transaction confirmed quickly.
Well it depends on the gas limit you set but probably you are right it was high value of eth now when using the gas I'm just going to transfer a gas and it make 2$-3$ per transaction I don't know why gas is that huge for ethereum maybe many people are using it so the transaction became slow and you need to put the gas higher.
Looks like we are back in the bull run, the last time I remember ETH had that kind of big transaction fee was during the last bull run when the network was congested due to transactions coming from ICO and ETH tokens, but now, I don't know if there's a high demand on ETH that makes the fee to be higher. AFAIR, the last time I transacted I can still set a lower amount of fee and it confirms fast, of course faster than bitcoin and even with bitcoin transaction versus ETH (same feee), ETH confirms faster.
That fee might just drop again and will go back to normal, just like when bitcoin pumped during the hype of the halving, the fee had significantly increased but now, it's not that expensive to transact, fee are normally below $1 and it still confirm faster.
