Ethereum Gas Fees Drop - page 7. | Bitcointalksearch.org

speedforce

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Quote from: adriaparcerisas on May 31, 2021, 09:35:02 AM

Hello guys! I share you these good news. Ethereum Gas Fees drop dramatically today to reach top-year low. The Gas Fees prices has drop 50% in the last 2 days. The graphic below shows the evolution of ETH gas prices during the last year.

I realize it too, but i dont know its happen because the transaction volume drop or its kinda update from Ethereum network that keep the gas low?

Ruvi2000sew

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This shift in gas fees demonstrates that the team is not giving up and is, of course, continuing to improve the Ethereum blockchain and make it the center of attention. Similarly, once the team gets this right by ensuring that gas fees continue to fall, most blockchains will have no reason to criticize Ethereum because it's clear that their point of conflict is gas fees.

MishaSER

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Quote from: leatutz on June 06, 2021, 10:33:29 AM

I really don't understand the Ethereum GWEI problem. We shouldn't hold our tokens in exchange, but when altcoins price goes up, gas fees increase. Now I can make transactions at a cost of half USD, but during the high price of tokens, I had to pay almost 12 USD. Either pay high gas fees to take profit, sell low at low prices or hold tokens on exchanges, this isn't a pair.

Of course, this is how we live, but now is really the best time to send all your tokens on exchanges in order to wait for a huge pump.

leatutz

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I really don't understand the Ethereum GWEI problem. We shouldn't hold our tokens in exchange, but when altcoins price goes up, gas fees increase. Now I can make transactions at a cost of half USD, but during the high price of tokens, I had to pay almost 12 USD. Either pay high gas fees to take profit, sell low at low prices or hold tokens on exchanges, this isn't a pair.

armanhusni

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Quote from: adriaparcerisas on May 31, 2021, 09:35:02 AM

Hello guys! I share you these good news. Ethereum Gas Fees drop dramatically today to reach top-year low. The Gas Fees prices has drop 50% in the last 2 days. The graphic below shows the evolution of ETH gas prices during the last year.

If you have pending transactions, do it now and enjoy these low prices. Here (https://etherscan.io/gastracker) the link to track it and below a screenshot to see current prices.

This is good news for me，I can transfer the coins in the wallet to the exchange to sell. I hope that the gas can continue to decline. That would be better news. Is the era of ETH 2.0 coming?

ven7net

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I am very glad that the problem with high commission prices in the Ethereum network began to be solved and the load on the network, and, accordingly, the price for gas began to decrease. This is great news for the entire Ethereum community, as it has once again shown that Ethereum is a strong platform and it is not ready to give up its leadership positions, but on the contrary, with the solution of this main task, it will be able to show an even better result of its network operation. I also really hope that with the solution of this problem, attention to Ethereum will increase again, which will allow the price of the ETH coin itself to show new growth.

Davian144

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Quote from: BitTraderCute on June 06, 2021, 07:07:34 AM

if this drop due network improvement , its really good news for us. but if this happen due ethereum price ,maybe we need more time to see better network in ethereum chain,. and maybe using bridge in project that another token in binance smart chain could be solution for us.

So far the Gas fee on Ethereum transactions has always decreased but it doesn't always stay at a small number and also not so high when the transaction fee changes, and I myself am certainly quite happy because this is happening.

Quote from: ?? on ??

There will be two sides that have different thoughts later, but it's best to think about the good things with the price drop at this time. But if it's true about lowering transaction fees with all of this, it's time to wait for further news to make small transactions.

Yes, now is the time to make small transactions on the Ethereum network because the fees are very cheap now even though they are not as cheap as BSC, but at least it has been very helpful for those who used to be hampered by transactions at large fees.

Jackl87

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Quote from: adriaparcerisas on May 31, 2021, 09:35:02 AM

Hello guys! I share you these good news. Ethereum Gas Fees drop dramatically today to reach top-year low. The Gas Fees prices has drop 50% in the last 2 days. The graphic below shows the evolution of ETH gas prices during the last year.

Yeah it seems as the berlin upgrade slowly shows it's full impact on the gas fee prices. At the moment we are around 10 gwei for a transaction which is like 0,70$ for an ETH transfer and 1,50$ for an ERC-20 Token transfer which is still too much in my opinion for an everyday use but of course a huuuuge improvement compared to the 200+ gwei prices that we constantly had for a weeks and months. I hope this trend continues until we are at the same lvl of transaction fees as on the binance smart chain.

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Quote from: BitTraderCute on June 06, 2021, 07:07:34 AM

if this drop due network improvement , its really good news for us. but if this happen due ethereum price ,maybe we need more time to see better network in ethereum chain,. and maybe using bridge in project that another token in binance smart chain could be solution for us.

I hope this decrease in ethereum transaction fees thanks to network upgrades,
because if that's true of course it's a good thing because I'm sure the team has also worked hard,
and so far I think Binance Smart Chain is the solution

Vishnu.Reang

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Quote from: BitTraderCute on June 06, 2021, 07:07:34 AM

if this drop due network improvement , its really good news for us. but if this happen due ethereum price ,maybe we need more time to see better network in ethereum chain,. and maybe using bridge in project that another token in binance smart chain could be solution for us.

There is no improvement in the network. Most of the Blockchains are experiencing a lack of demand and this is the same with Ethereum as well. The exchange rates have dropped by 40%-50% for each of these coins, and this has affected the trade volumes. The traders are not very active right now and the situation will remain like this until the prices recover. So this dip in the gas price is a temporary phenomenon. We can expect the gas price to be >100 gwei, once the exchange rates recover.

BitTraderCute

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if this drop due network improvement , its really good news for us. but if this happen due ethereum price ,maybe we need more time to see better network in ethereum chain,. and maybe using bridge in project that another token in binance smart chain could be solution for us.

warg2017

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Yes, the gas fee of erc20 is relatively low now, and i believe the long bear market will continue to be lower and lower.
I don't think it's a bad thing that ETH gas fee is expensive. High gas fees are a sign that ETH is crowded, and when it gets crowded, it only happens in a bull market.
So if high gas fee means Bull, low gas fee means Bear, then i would rather high gas fee.

nurilham

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Yeah, this is a very great thing that the gas fee of ERC20 is dropped very much.
today, this reaches only 11 gwei for the standard gas fee based on https://ethgasstation.info/

Well, this lower gas fee really proves that ERC20 still has a good concern to make the community trust and also to ensure that ERC20 tokens are still worthy to be sued for new projects. As we know that ERC20 really has a hard competitor from Binance Smart Chain that offers a very low transfer fees. Although right now, erc20 still becomes the highest platform used, in fact, there is a worry about the BSC. And BSC itself is also good platform although still have some weakness in the network and security

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Commissions are falling as is the hype around cryptocurrency, the market is cooling down.

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Quote from: Viscore on June 05, 2021, 06:18:57 PM

Some people have lost interest in ethereum when its gas fees suddenly becomes high and all is hoping that the staff would fix it the soonest time. Ethereum has remained a good platform and so its demand is still high because of its good quality.

Today, if this news is reliable, this would bring positive impact on ethereum and will regain those who have lost their trust in ethereum due to expensive gas fees. And as expected, once it demand increases, probably its value will also surges.

..

because the collapse of the ethereum price makes transaction costs cheap or when the price collapses, there are not too many traders who make transactions on the ethereum network, making the ethereum network lighter and making transaction costs very cheap as is the case today

Viscore

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Quote from: bahagia93 on June 05, 2021, 04:04:56 PM

Quote from: AzamNurWahid on June 05, 2021, 03:59:53 PM

gas fees drop is very good news for ethereum development and I also hope v2.0 will bring more significant changes because everyone was looking forward to it

Yes, and now I see that some people are also starting to like Ethereum again because of the decrease in Gas transaction fees on the Ethereum platform, so I also believe that after the completion of Ethereum 2.0 development, Ethereum will become an unbeatable token of all time.

Some people have lost interest in ethereum when its gas fees suddenly becomes high and all is hoping that the staff would fix it the soonest time. Ethereum has remained a good platform and so its demand is still high because of its good quality.

Today, if this news is reliable, this would bring positive impact on ethereum and will regain those who have lost their trust in ethereum due to expensive gas fees. And as expected, once it demand increases, probably its value will also surges.

..

Mpamaegbu

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Quote from: el kaka22 on June 04, 2021, 12:12:03 PM

Plus the numbers change a lot, like I tried sending 20 bucks from my metamask just this morning and it suggested 8 dollars, I do not know where people get their gas fee calculations or where my metamask did but I decided to use BSC once again, it is that simple to drop the amount of eth is used because if you tell me 8 bucks then I will switch to other place which charges me like 20 cents, it is wildly different.

I strongly believe BSC is the biggest undoing of the ETH network. Without BSC, a lot of new projects seeking smart contracts would've died off and the extortion in gas fees from traders would've continued unabated. It's because of this same high fee that an existing project I followed couldn't swap it's token and that project died off last year. Again, traders on Uniswap talk a lot about high gas fees as withdrawal fees when they trade there and that has made me not even patronise any token listed on Uniswap or any ETH based Dex. My preference is BSC based tokens and on Pancakeswap. If a token I want to buy is listed only on Uniswap or other ETH based Dex, I just lose interest and forget buying it. Well, let's see how this new gas level improves and stays cheap. Perhaps, it may encourage many traders to reconsider their stance and go back to ETH.

bahagia93

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Quote from: AzamNurWahid on June 05, 2021, 03:59:53 PM

gas fees drop is very good news for ethereum development and I also hope v2.0 will bring more significant changes because everyone was looking forward to it

Yes, and now I see that some people are also starting to like Ethereum again because of the decrease in Gas transaction fees on the Ethereum platform, so I also believe that after the completion of Ethereum 2.0 development, Ethereum will become an unbeatable token of all time.

AzamNurWahid

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gas fees drop is very good news for ethereum development and I also hope v2.0 will bring more significant changes because everyone was looking forward to it

BOAEDAN

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Quote from: fortune1002 on June 05, 2021, 02:24:33 PM

Today ethereum gas fees has decreased a lot. Today the GWEI is 12-15 and Ethereum transfer fee is 0.7-0.95$ and Swapping on Uniswap will need only 10$ fees. I hope now gas fee will not increase and we can make transaction easily.

My suggestion is that you can take advantage of the low price of gas on Ethereum to make transactions arbitrarily or you can say take advantage of the difference in prices from various exchanges because when the price of ethereum at the exchange goes up, it is certain that gas costs will not be cheap anymore.

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