Today will be the ETH 2.0 launch and everyone is expecting more deposits that will happen. The testing phase is the most anticipated happenings in crypto now. And as we all know that the launch of ETH 2.0 will also help to boost the DEFI industry. https://crypto.co/technology/eth-2-0-launching-today-more-deposits-coming-in/
You can track the countdown of ETH 2.0 https://eth2-fork-mon.stokes.io/. Can't wait for the great history that will happen. Not only will it impact Coin defi after ETH 2.0 is launched but it will also impact other Coin. See market demand has increased very high. Hope ETH delivers a fantastic surprise.
Topic: Etherum Fees Double In a Week As DeFi Heats Up (Read 701 times)
Today will be the ETH 2.0 launch and everyone is expecting more deposits that will happen. The testing phase is the most anticipated happenings in crypto now. And as we all know that the launch of ETH 2.0 will also help to boost the DEFI industry. https://crypto.co/technology/eth-2-0-launching-today-more-deposits-coming-in/
You can track the countdown of ETH 2.0 https://eth2-fork-mon.stokes.io/. Can't wait for the great history that will happen. Not only will it impact Coin defi after ETH 2.0 is launched but it will also impact other Coin. See market demand has increased very high. Hope ETH delivers a fantastic surprise.
most of the new projects have sprung up mainly about the DEFI project and in fact most of them are also listed on DEX platforms like Uniswap. This is the second problem besides the high ETH transaction fees, on the other hand the withdrawal fees on the DEX platform are also expensive.
Today will be the ETH 2.0 launch and everyone is expecting more deposits that will happen. The testing phase is the most anticipated happenings in crypto now. And as we all know that the launch of ETH 2.0 will also help to boost the DEFI industry. https://crypto.co/technology/eth-2-0-launching-today-more-deposits-coming-in/
You can track the countdown of ETH 2.0 https://eth2-fork-mon.stokes.io/. Can't wait for the great history that will happen. Not only will it impact Coin defi after ETH 2.0 is launched but it will also impact other Coin. See market demand has increased very high. Hope ETH delivers a fantastic surprise.
The ethereum fees double because of uniswap, the surge amount of rugpulls and such results to the ethereum gas price spike. Although the price goes up lots of whales take advantage of it to manipulate the market to gain more, so the gas price is only a small percent of their profit. And because of DeFi hype it is still increasing, maybe it will be lower next year. New year new trend.
Today will be the ETH 2.0 launch and everyone is expecting more deposits that will happen. The testing phase is the most anticipated happenings in crypto now. And as we all know that the launch of ETH 2.0 will also help to boost the DEFI industry. https://crypto.co/technology/eth-2-0-launching-today-more-deposits-coming-in/
This is always a hot issue and the most frequently discussed. I am sure that there will be a good (win-win solution) and normal solution in the future to reduce the surge in transaction fees from the developers, where ETH has always been the main prerequisite before doing WD for Ethereum blockchain users.
Now it's quite normal when compared to when Defi was very hype a few days or weeks ago. ethereum 2.0 will also attend which will address this gas fee issue. for now I think almost everything is back to normal, although it is still "a little" expensive
This is always a hot issue and the most frequently discussed. I am sure that there will be a good (win-win solution) and normal solution in the future to reduce the surge in transaction fees from the developers, where ETH has always been the main prerequisite before doing WD for Ethereum blockchain users.
The current organization charges are ridiculous for normal brokers, the ETH 2.0 should fix the referenced issues. The DEFI publicity is the fundamental motivation behind why the expenses for sending exchange has bent over, so if there are no other elective merchants should pay similar charges again and again for every exchange. Envision paying $30 for store and withdrawal of token subsequent to making an exchange. I am bothered to state my companions who I have assisted with purchasing altcoins about the high GAS expense and their reaction is highlighted ETH devs. Crazy charges won't make it conceivable to sell the badge of my companions, so I encourage them to be quiet and patient.
At first, it didn't seem any kind of big issue, but now it's unbearable to me. Even with low gas fees, it's not working, rather it's becoming a failed transaction. Can anyone say that when the gas fee will be normal? Or will it not be normal any day?
September was really a weird month for ethereum fee's because it has been under 4 dollars almost every day but for like a total of 5 or 6 days it was over 4 dollars and in some of them it peaked over 12 dollars as well, that is really not normal, we would expect something like 1 dollar for example, that would be understandable increase, we would still say it increased too much but 1 dollar is not really that weird when you consider how much is paid for other payment transactions and how much ethereum brings to the table, however 12 was weird, like that is not even sustainably high neither, people would stop using it because of it and it would go down automatically.
Let's hope that this 3-4 dollar range goes down soon, we need under 2 dollars very quickly to make it sustainable.
Let's hope that this 3-4 dollar range goes down soon, we need under 2 dollars very quickly to make it sustainable.
Fees are heated up and are cooled down separately. People have to learn to check how to use good fees and make sure their transactions will be confirmed but still save some level of transaction fee.
The thing with transaction is if your transaction fee is reduced that means the waiting for a confirmation to arrive will also increase. After all the reason why the fee is like this right now because people want to get ahead of anyone else. you setback the cost of fee for your transaction a little bit you might get your transaction confirmed for hours and it's not comfortable. We still need to address the root of this issue if we really want to get the transaction fee becomes normal again which is scalability.
i have used ethgastation lately to check if what are the recomended fees . never tried the others but those are still the same offering same service but except to etherscan maybe because its an eth/erc20 explorer . you can see the details of your transaction if search or view in a crypto explorer and that includes the fees you inputed . your last guide was interesting tho but i have not tested it as i dont experience a stuck transaction for a long time but this is useful to others that experienced it .
Fees are heated up and are cooled down separately. People have to learn to check how to use good fees and make sure their transactions will be confirmed but still save some level of transaction fee.
Sites to check and get reference for transaction fees on ETH network
ETHGasstation.info
https://ethgasstation.info/index.php
https://ethgasstation.info/txPoolReport.php
https://ethgasstation.info/calculatorTxV.php
Etherchain.org
https://www.etherchain.org/tools/gasPriceOracle
Gasnow.org
https://www.gasnow.org/
ETHGas.watch
https://ethgas.watch/
Etherscan.io
https://etherscan.io/gastracker
[GUIDE] How to cancel or replace an ETH transaction (Metamask, MEW, MyCrypto)
Sites to check and get reference for transaction fees on ETH network
ETHGasstation.info
https://ethgasstation.info/index.php
https://ethgasstation.info/txPoolReport.php
https://ethgasstation.info/calculatorTxV.php
Etherchain.org
https://www.etherchain.org/tools/gasPriceOracle
Gasnow.org
https://www.gasnow.org/
ETHGas.watch
https://ethgas.watch/
Etherscan.io
https://etherscan.io/gastracker
[GUIDE] How to cancel or replace an ETH transaction (Metamask, MEW, MyCrypto)
Well, hopefully this problem is temporary. In the meantime, we need to choose between high transactions on the ethereum network and the need to make them less. Hopefully the upcoming updates will fix this problem for a long time. I do not yet make transactions on the ethereum network without special need.
People are moving their airdrop tokens which is the reason why there is an unexpected price increase when the prices are falling because in general the transaction fee gets increases when the market starts to act bullish.Even UNI is losing the value too quick so we can expect the end of defi hype in near future.
I believe as long as ethereum gets to keep all the ones they have right now without scaring them away to somewhere else, the new ones picking something other than ETH is fine. Obviously for eth to be greatly successful it needs to have almost all the ones so that we could have project after project on ETH blockchain that makes it wanted so much, but if it misses couple of new big projects it wouldn't be that hard.
After all, ETH wasn't created so that other coins would make it valuable, it was created so that it could be utilized in the right way and nobody can say that is not going on right now, obviously it is utilized amazingly right now and that is why I believe price of ETH will skyrocket which would make it even more expensive to send/receive money as well but that will not be a problem neither.
After all, ETH wasn't created so that other coins would make it valuable, it was created so that it could be utilized in the right way and nobody can say that is not going on right now, obviously it is utilized amazingly right now and that is why I believe price of ETH will skyrocket which would make it even more expensive to send/receive money as well but that will not be a problem neither.
Who really wants to pay an expensive transaction fee. Maybe there are, those who are in a hurry and want immediate as an instant confirmation. But that is why we use crypto to save on online transaction fees. It is coming out now because of the trends it is even cheaper to use fiat compared to the Ethereum network. The negative effect will not really disappear when something good happens. How many times have I read ETH 2.0 here, can it be solved?
I believe it is not going to be as tough as people claim to be. Bitcoin has around 7-10 dollar fee right now and nobody cares about it, whereas ETh has around 2 dollars right now and people act like it is end of the world. If bitcoin can reach to 10k with 10 dollar price, that means ethereum could at least be 2 thousand dollars with 2 dollar fee as well, there is no need to make an overreaction.
We would want both bitcoin and ethereum fee's to be lower, who would be fine with paying such huge fees, considering there are people who use it from third world countries where 2 dollars is literally a meal price, it is understandable to want it lower. However wanting it lower and not using it for the price are different and I doubt anyone is leaving because it is 2 dollars.
We would want both bitcoin and ethereum fee's to be lower, who would be fine with paying such huge fees, considering there are people who use it from third world countries where 2 dollars is literally a meal price, it is understandable to want it lower. However wanting it lower and not using it for the price are different and I doubt anyone is leaving because it is 2 dollars.
It is not only the gas fee that has been getting higher, there are also ballooning fees for interacting with the DeFi protocols.
Getting hit with those fees (that can run up to $100) is just insane.
https://cointelegraph.com/news/99-gas-fees-on-ethereum-are-crippling-defis-growth
https://cointelegraph.com/news/using-a-defi-protocol-now-costs-more-than-50-as-ethereum-fees-skyrocket
It will be interesting to see how those fees develop when more DeFi projects (similar to Uniswap) make a large move on Ethereum network.
Everybody complains it about it when the UNI airdropped came. I stopped making trasaction after I paid $25 last week, its a huge amount to waste. $100 will probably make me think of just not trading yet until all has calm down and the ETH2 solution come. It would be fair if the price of ETH also tank up but if it stays this low while the fee is the only that tanks, I'd prefer to move to other platforms where I'm also used to.
I believe it is not going to be as tough as people claim to be. Bitcoin has around 7-10 dollar fee right now and nobody cares about it, whereas ETh has around 2 dollars right now and people act like it is end of the world. If bitcoin can reach to 10k with 10 dollar price, that means ethereum could at least be 2 thousand dollars with 2 dollar fee as well, there is no need to make an overreaction.
We would want both bitcoin and ethereum fee's to be lower, who would be fine with paying such huge fees, considering there are people who use it from third world countries where 2 dollars is literally a meal price, it is understandable to want it lower. However wanting it lower and not using it for the price are different and I doubt anyone is leaving because it is 2 dollars.
We would want both bitcoin and ethereum fee's to be lower, who would be fine with paying such huge fees, considering there are people who use it from third world countries where 2 dollars is literally a meal price, it is understandable to want it lower. However wanting it lower and not using it for the price are different and I doubt anyone is leaving because it is 2 dollars.
It is not only the gas fee that has been getting higher, there are also ballooning fees for interacting with the DeFi protocols.
Getting hit with those fees (that can run up to $100) is just insane.
https://cointelegraph.com/news/99-gas-fees-on-ethereum-are-crippling-defis-growth
https://cointelegraph.com/news/using-a-defi-protocol-now-costs-more-than-50-as-ethereum-fees-skyrocket
It will be interesting to see how those fees develop when more DeFi projects (similar to Uniswap) make a large move on Ethereum network.
The average fee for transactions on Ethereum has reached its second-highest level ever, after setting the record earlier this month.
In brief
Want to read more?- Go through the link- https://decrypt.co/42365/etherum-fees-double-in-a-week-as-defi-heats-up
In brief
The average Ethereum transaction fee rose to more than $11, more than double last week’s figure.
Daily average fees still haven’t dipped below $2, continuing a record-breaking streak.
More hash power is being added to the network.
Daily average fees still haven’t dipped below $2, continuing a record-breaking streak.
More hash power is being added to the network.
Want to read more?- Go through the link- https://decrypt.co/42365/etherum-fees-double-in-a-week-as-defi-heats-up
Defi not only heats up the fee of ethereum,it also reflect on the price of other altcoin. ETH is the source for the many of the transaction.The sad one is the price of ETH was not back to 350$.Some of holders had loss their hope on ETH .This shows that,until unless,the ETH fee reduced.The Eth price will not back to it's old value.
I believe it is not going to be as tough as people claim to be. Bitcoin has around 7-10 dollar fee right now and nobody cares about it, whereas ETh has around 2 dollars right now and people act like it is end of the world. If bitcoin can reach to 10k with 10 dollar price, that means ethereum could at least be 2 thousand dollars with 2 dollar fee as well, there is no need to make an overreaction.
We would want both bitcoin and ethereum fee's to be lower, who would be fine with paying such huge fees, considering there are people who use it from third world countries where 2 dollars is literally a meal price, it is understandable to want it lower. However wanting it lower and not using it for the price are different and I doubt anyone is leaving because it is 2 dollars.
We would want both bitcoin and ethereum fee's to be lower, who would be fine with paying such huge fees, considering there are people who use it from third world countries where 2 dollars is literally a meal price, it is understandable to want it lower. However wanting it lower and not using it for the price are different and I doubt anyone is leaving because it is 2 dollars.
This is not the first time for Bitcoin to have high fees. In 2017 we had higher fees for Bitcoin transactions. This time it's the first
time for Ethereum to have so high fees, people are not get used to it like with Bitcoin. I hope they will work something out very
soon, too high fees are good just for whales, for us who think in lower amounts these fees are too high.
I believe it is not going to be as tough as people claim to be. Bitcoin has around 7-10 dollar fee right now and nobody cares about it, whereas ETh has around 2 dollars right now and people act like it is end of the world. If bitcoin can reach to 10k with 10 dollar price, that means ethereum could at least be 2 thousand dollars with 2 dollar fee as well, there is no need to make an overreaction.
We would want both bitcoin and ethereum fee's to be lower, who would be fine with paying such huge fees, considering there are people who use it from third world countries where 2 dollars is literally a meal price, it is understandable to want it lower. However wanting it lower and not using it for the price are different and I doubt anyone is leaving because it is 2 dollars.
We would want both bitcoin and ethereum fee's to be lower, who would be fine with paying such huge fees, considering there are people who use it from third world countries where 2 dollars is literally a meal price, it is understandable to want it lower. However wanting it lower and not using it for the price are different and I doubt anyone is leaving because it is 2 dollars.
This is what I notice also upon transferring my Eth from one wallet to another, the transaction fee is a little bit crazy because of defi hype that is why I am avoiding a small
ETH transactions as of this moment because I will just waste my money for transaction fees.
I will just hope that fees will revert to normal again so I can use Eth freely again without worrying to it's transaction fees.
ETH transactions as of this moment because I will just waste my money for transaction fees.
I will just hope that fees will revert to normal again so I can use Eth freely again without worrying to it's transaction fees.
It indeed was true and had been experiencing a high gas fee during a small transfer of eth from one wallet to another wallet. It seems that DEFI here really has the capacity to slow down or getting a huge ETH number of transactions. It is indeed a possible reason for the eth network to get congested. However, I do believe also that ethereum will be manage as they had already started the upgrade of their software for ETH 2.0.
With the existence of ethereum 2.0, I also see that there is still no way to determine whether gas costs can be cheap again or not because so far there have been more and more transactions in ethereum technology when there are many DeFi projects created, making solid transactions that make gas prices go up.
A lot of people keep complaining about the high fees but still, they're making transactions. If they can wait for a few hours to confirm their transaction, I shouldn't think we need to set it into the highest gas fee. But unfortunately, some want instant and it drives then to make huge fees just to fulfill. It helps anyway, but if this will continue, I can't imagine how fees go far.
Maybe I should have to keep my coins and hold for awhile waiting for the moment that hotness calms down.
Maybe I should have to keep my coins and hold for awhile waiting for the moment that hotness calms down.
It indeed was true and had been experiencing a high gas fee during a small transfer of eth from one wallet to another wallet. It seems that DEFI here really has the capacity to slow down or getting a huge ETH number of transactions. It is indeed a possible reason for the eth network to get congested. However, I do believe also that ethereum will be manage as they had already started the upgrade of their software for ETH 2.0.
The average fee for transactions on Ethereum has reached its second-highest level ever, after setting the record earlier this month.
In brief
Want to read more?- Go through the link- https://decrypt.co/42365/etherum-fees-double-in-a-week-as-defi-heats-up
In brief
The average Ethereum transaction fee rose to more than $11, more than double last week’s figure.
Daily average fees still haven’t dipped below $2, continuing a record-breaking streak.
More hash power is being added to the network.
Daily average fees still haven’t dipped below $2, continuing a record-breaking streak.
More hash power is being added to the network.
Want to read more?- Go through the link- https://decrypt.co/42365/etherum-fees-double-in-a-week-as-defi-heats-up
The situation reminds me strongly on the peak of the ICO hype in 2017 and 2018, when the transaction fees in Ethereum were also extremely high on some days and were partly unaffordable. The fact that this situation is recurring now, three years later, shows how little progress Ethereum (and crypto in general) has made in handling larger transaction volumes. The mainstream adaption is still a long way off and I doubt if the switch to PoS can change that.
the massive fee increase actually kinda render these DeFi apps useless. I mean there might be some major advantake to using uniswap but for people with relatively small money using uniswap will cause them losing money a lot more than using centralized exchange and it's just insane. If ethereum dev do nothing about it maybe in the future less and less people will get tired of the fee.
The increase in transaction prices is indeed very detrimental to users, ethereum needs to improve itself so as not to lose users who keep them afloat. otherwise ethereum will collapse and be replaced by other coins with cheap transaction prices
It is not going to collapse, but a lot of the projects will move to other platforms such as Cardano and Qtum. Right now, many of the users are not paying enough attention, because even after deducting the fee, they are getting good returns. But the mood will change once the DeFi bubble bursts. People will search for convenient scapegoats and Ethereum chain will be on the top of the list.
The increase in transaction prices is indeed very detrimental to users, ethereum needs to improve itself so as not to lose users who keep them afloat. otherwise ethereum will collapse and be replaced by other coins with cheap transaction prices
It is not going to collapse, but a lot of the projects will move to other platforms such as Cardano and Qtum. Right now, many of the users are not paying enough attention, because even after deducting the fee, they are getting good returns. But the mood will change once the DeFi bubble bursts. People will search for convenient scapegoats and Ethereum chain will be on the top of the list.
Ethereum blockchain is too old to complete all requirements of modern world, where DeFi projects are so popular. Most of them are built on ETH blockchain, so load is very heavy and Ethereum need updates, because it`s not good that people pay up to 50$ just for 1 transaction, when in other blockchains transactions can be faster and cheaper. Ethereum developers need to improve it or ETH will lose it`s 2-d line on cmc top
The average fee for transactions on Ethereum has reached its second-highest level ever, after setting the record earlier this month.
In brief
Want to read more?- Go through the link- https://decrypt.co/42365/etherum-fees-double-in-a-week-as-defi-heats-up
In brief
The average Ethereum transaction fee rose to more than $11, more than double last week’s figure.
Daily average fees still haven’t dipped below $2, continuing a record-breaking streak.
More hash power is being added to the network.
Daily average fees still haven’t dipped below $2, continuing a record-breaking streak.
More hash power is being added to the network.
Want to read more?- Go through the link- https://decrypt.co/42365/etherum-fees-double-in-a-week-as-defi-heats-up
I think the high fees for Ethereum are very bad. I noticed that this issue is pushing many ETH users to use other altcoins. For example, to avoid commission, I exchange my ETH for LTC or TRX on the exchange. Of course, the fact that DeFi is booming on the Ethereum platform is very good, but the fact that the ETH network is weak and cannot cope with such an influx of transactions is very bad.
Sometimes very frustrated because the gas cost of ETH is too high. I think that is the biggest drawback of etherum copper
It's profitable for ETH miners but bring a poor experiences for users. More than 10$ and 10 minutes for a transaction is not suitable in this market now, when many other platforms can achive better result. I just don't know why many projects still choose ETH to build their token.
I always refuse to pay max price honestly. Same with Bitcoin and same with ETH. I mean,,, I hardly ever need something paid urgently and if fees are way to high to pay with crypto, I go with fiat.
Bitcoin has been problematic in the past but seems to fix their problems. ETH to be fair also I still choose to pay a low fee and it eventually gets accepted. It's all the uniswap guys and mining people who want instant that's the problem.
This is good for the next work. Defi is a game challenge and I see that even with the high in fees of ethereum transactions people still prefer to used it because of the it speed and reliability.
yes this is the general situation now. Investors are in high demand for investment and the defi trend is getting hotter and hotter, and fee increases are also normal. Therefore, those who do not want to invest in defi projects should use the TRC-20 platform, it helps us move coins faster and lower fees. I just switched to the TRC-20 platform and felt it was still very good compared to the ERC-20.
The gas fee in DEXes is crazy , I just wanted to swap 0.01 ETH as a test to see the gas fee in 1 inch exchange and the gas fee was 16$ !
yeah 16$ for swapping 3.5$ eth to Ampl , that is why DEx has no future and people would rather to go on CEXes .
yeah 16$ for swapping 3.5$ eth to Ampl , that is why DEx has no future and people would rather to go on CEXes .
The gas fees are increasing since the DeFi projects become a trend or hype up. It is why other people who buy UNI are having trouble selling out their token because its a shame if you will pay every expensive fee when you are trying to buy and sell cryptocurrencies. The Ethereum gas fees are so expensive because the network becomes busier that many people are making transactions like sending and receiving tokens.
It's just saying we have to had some alternatives in it and I think that's when Tron DeFis comes to play. Though some of this Tron DeFis still new but I think they will be the best in terms of speed and the fees. Uniswap should have a best solution regarding that or else they'll lose a big amount of traffic or investors.
This was possible because of the increasing market value of ethereum coin. I think this could be annoying in the part of crypto day traders, maybe ethereum gas fee could settle down in the long run after some altcoins also shining in the market like UNI coin. We just hope for the good development of ethereum coin since it is potentially capable for a good investment anytime.
UNI is a token, not a coin and certainly not an altcoin.
coins : https://coinmarketcap.com/coins/
tokens : https://coinmarketcap.com/tokens/
I hope you understand the difference between token projects and altcoin projects / coin projects. Token projects are dependent on one specific blockchain (mostly Ethereum) over which they don't have any direct control and have a centralized single point of failure (high fees), because that blockchain does not scale. Altcoin projects / coin projects each have their own blockchain (over which they have full control), their own fee structure and their own network security.
Ethereum : coin / altcoin
UNI : token
I really want to invest in some projects but my God it's expensive, you want to put $100 while pay $40 just for fees (looking at you, uniswap).
This was possible because of the increasing market value of ethereum coin. I think this could be annoying in the part of crypto day traders, maybe ethereum gas fee could settle down in the long run after some altcoins also shining in the market like UNI coin. We just hope for the good development of ethereum coin since it is potentially capable for a good investment anytime.
I saw ethereum gas fee few days ago, it was 700++ gwei on high and 500 gwei on safe low.
This is no wonder, because uniswap platform is very booming nowadays.
And DeFi platforms are using usd tether as their coin, using high gas fee to do quick transactions.
This is no wonder, because uniswap platform is very booming nowadays.
And DeFi platforms are using usd tether as their coin, using high gas fee to do quick transactions.
For now the only hope is that UNI airdrop and drfi trend settles a bit so that eth transaction fee gets back to normal because with these high fee no one can think of adoption and usage at a household level.
Also if eth 2.0 launches successfully I am sure it will resolve this issue immediately so we need to stay positive and keep supporting eth.
Also if eth 2.0 launches successfully I am sure it will resolve this issue immediately so we need to stay positive and keep supporting eth.
The issue with this high gas price is that the Ethereum purist do not see this as an issue because the chain is dominating the smart contract world, but if this price thing continue to be an issue, I think a better tech with good marketing team behind it would dethrone Ethereum long run, how can I want to make a transaction of $100 and be paying $10 for fees this is too high
It's profitable for ETH miners but bring a poor experiences for users. More than 10$ and 10 minutes for a transaction is not suitable in this market now, when many other platforms can achive better result. I just don't know why many projects still choose ETH to build their token.
Investing on Ethereum coin is mostly less risky as i think seeing for last few years when i was trading for it and any other coins had a huge dump i got and losses for those and in the case of ETH i have seen there is ups and down both in few days nothing to loose i seen. But everyone have their own perceptions. So be careful and trade at your own risk!
The time to look past using ethereum blochkchain network is already here but I don't know why people are so adamant to the use of ethereum to build their projects on. Stellar and ripple network are there with very cheap transaction fee.
Costs increase when UniSwap's airdrop occurs. The money is free and people try to sell them quickly when their value collapses.
Gwei dropped when people sold out their free UNIs.
The UNI airdrop event generated record-high fees, but in the future, the ethereum network could still happen.
Gwei dropped when people sold out their free UNIs.
The UNI airdrop event generated record-high fees, but in the future, the ethereum network could still happen.
It has more to do with the 400 UNI airdrops that traders who used uniswap exchange before 1 st September received. For most people it is a huge amount of money and they are trying to cash out and hence the high gas price.
before that happened the cost of gas had already increased. There is transaction instability on the ethereum network which makes transactions very congested. but lately, it's still unstable I see. sometimes in the morning, the gas can go down but at night the gas goes up again. I saw that some Dapps required more than 100USD fee to process a smart-contract transaction. This could be a huge problem for developers that start looking for alternatives - PolkaDOT, Tron or QuarkChain.
This is really alarming to be honest. just a few weeks back, I had to send 7 dollars worth of gas fee using Metamask and it really hit me hard. Though fees might peak sometimes, it's still a good thing that it seldom happens. As of now, it really subsided significantly $2-3 and I'm still hoping that it will lower more when hype is done.
I saw that some Dapps required more than 100USD fee to process a smart-contract transaction. This could be a huge problem for developers that start looking for alternatives - PolkaDOT, Tron or QuarkChain.
Gwei is now lower at 114 from 260 three days ago but still higher from what what we are using months ago, we are all caught by a sudden increase of the gas fee and it will continue to become an issue in the coming weeks, I have never imagine that this things can happen if this could happen to Ethereum it could also happen to other up and coming coin in the market, I hope things will be normalize so we can get back to 1 to 10 cents this is the Ethereum that we will know.
The fee above $2 or above 100 Gwei is higher than the fee from 10 to 20 Gwei months ago (up to 3 months) before the crypto market went to crazy with DeFi projects, yield, farm, swap.
The crypto market itself operates very fast, and faster than stock or good markets. Price can skyrocket in minutes and can falling crash in minutes too. People don't want to wait for a few minutes or hours with their DeFi parties so fee has lifted by DeFi participants. Not only restricted on yield, farm joiners, investors and traders on exchanges contribute to rise of fee when they trade, take profit, cut loss and move their funds around exchanges.
Fee already drops 5 times from latest peak (from $11 to $2) and it need to drop next 5 times to hit its normal cheap fee again. Let's hope.
The crypto market itself operates very fast, and faster than stock or good markets. Price can skyrocket in minutes and can falling crash in minutes too. People don't want to wait for a few minutes or hours with their DeFi parties so fee has lifted by DeFi participants. Not only restricted on yield, farm joiners, investors and traders on exchanges contribute to rise of fee when they trade, take profit, cut loss and move their funds around exchanges.
Fee already drops 5 times from latest peak (from $11 to $2) and it need to drop next 5 times to hit its normal cheap fee again. Let's hope.
The average fee for transactions on Ethereum has reached its second-highest level ever, after setting the record earlier this month.
In brief
Want to read more?- Go through the link- https://decrypt.co/42365/etherum-fees-double-in-a-week-as-defi-heats-up
In brief
The average Ethereum transaction fee rose to more than $11, more than double last week’s figure.
Daily average fees still haven’t dipped below $2, continuing a record-breaking streak.
More hash power is being added to the network.
Daily average fees still haven’t dipped below $2, continuing a record-breaking streak.
More hash power is being added to the network.
Want to read more?- Go through the link- https://decrypt.co/42365/etherum-fees-double-in-a-week-as-defi-heats-up
It has more to do with the 400 UNI airdrops that traders who used uniswap exchange before 1 st September received. For most people it is a huge amount of money and they are trying to cash out and hence the high gas price.
The high gas costs are very detrimental to day traders, it is time for ETH to fix this as soon as possible or it could be that slowly people will leave ETH and turn to other blockchains to run defi.
whether they don't hear complaints or pretend they don't know, which is sure to be very bad for users.
whether they don't hear complaints or pretend they don't know, which is sure to be very bad for users.
Defi has been heating up in the crypto market. Transaction fees have gone up especially at ERC20 ethereum.
Even crazier at uniswap. I once tried to buy a token on uniswap at a cost of 28 $.
I hope Ethereum developers pay attention to current network costs. I think network costs are a burden.
Even crazier at uniswap. I once tried to buy a token on uniswap at a cost of 28 $.
I hope Ethereum developers pay attention to current network costs. I think network costs are a burden.
Defi would be the possible reason for the ethereum increase of transaction fees but there could be more reason like bitcoin having a good market where other altcoins will follow. With the bitcoin having a good market lately other altcoins will going to follow. Well high transaction is not a problem actually instead it is an indicator that many are utilizing cryprocurrency. It is definitely a working progress for future adaptation of crypticurrency for community consumption.
I just hope these high fees is not going to kill Ethereum, we now need a scaling solution like never before, if airdrops can drive he price this high, what will happen when we see a game or Dapps that is hugely successful.
I just hope one or two of these Ethereum competitor will come up with a lasting solution to this
I just hope one or two of these Ethereum competitor will come up with a lasting solution to this
The developers of Ethereum should address this issue or those projects with good potential in the market will create their platform on other smart contract platform like Tron or Eos, the fee is something that investors and traders can't bear they are even higher than Bitcoin's fee my highest transaction was $15 when I trade my Ethereum to fiat because of an urgent need.
this is really insane! calling eth developers to rectify this situation fast!
not a crypto user friendly anymore. if this will continue, i guess a lot of projects will find another network to deploy their system. we cant move our tokens if you have small eth sitting on your wallet.
i hope this madness in DeFi will be over! let's admit it, more than 90% of these defi projects are not serious with their platform. they are just here as money grab and will disappear as soon as they get their funds from gullible buyers! you bet it!
I just hope these high fees is not going to kill Ethereum, we now need a scaling solution like never before, if airdrops can drive he price this high, what will happen when we see a game or Dapps that is hugely successful.
I just hope one or two of these Ethereum competitor will come up with a lasting solution to this
I just hope one or two of these Ethereum competitor will come up with a lasting solution to this
The developers of Ethereum should address this issue or those projects with good potential in the market will create their platform on other smart contract platform like Tron or Eos, the fee is something that investors and traders can't bear they are even higher than Bitcoin's fee my highest transaction was $15 when I trade my Ethereum to fiat because of an urgent need.
The current network fees are outrageous for average traders, the ETH 2.0 should fix the mentioned issues. The DEFI hype is the main reason why the fees for sending transaction has doubled up, so if there is no other alternative traders are supposed to pay the same fees over and over for each transaction. Imagine paying $30 for deposit and withdrawal of token after making a trade. I am irritated to say my friends who I have helped to buy a altcoins about the high GAS fee and their response is pointed to ETH devs. Insane fees will not make it possible to sell the tokens of my friends, so I advise them to be calm and patient.
Defi hype was potent in causing ethereum network congestion and high transaction fee but this uniswap and their free 400 UNI tokens give away has added fire to the fuel and now the transaction fee is really high and no one is happy about it other than eth miners or platforms like uniswap that charge comission on every transaction.
They should be happy because of the increased fees and they deserve especially if the transaction is coming from the airdrop. I just hope these high fees is not going to kill Ethereum
This isn't the first time around with these high fees and during the first time, Ethereum maintains its position. 2.0 is the solution but it's still unknown when. 
I can only imagine what is most likely to happen should Ethereum's price attempt to get back to that $500 mark that it tried to reach a few weeks earlier. The Network will be a mess 
I just hope these high fees is not going to kill Ethereum, we now need a scaling solution like never before, if airdrops can drive he price this high, what will happen when we see a game or Dapps that is hugely successful.
The won't have to if ETH 2.0 comes quicker and is successfulI just hope one or two of these Ethereum competitor will come up with a lasting solution to this
All have tried but failed. The "Ethereum Killers" in NEO, EOS, TRON, you name it haven't even lived up to even 1/10th of Ethereum's hype and gone down crushing. There's something about Ethereum that keeps developers deploying more and more smart contracts on the network.
I just hope these high fees is not going to kill Ethereum, we now need a scaling solution like never before, if airdrops can drive he price this high, what will happen when we see a game or Dapps that is hugely successful.
I just hope one or two of these Ethereum competitor will come up with a lasting solution to this
I just hope one or two of these Ethereum competitor will come up with a lasting solution to this
Defi hype was potent in causing ethereum network congestion and high transaction fee but this uniswap and their free 400 UNI tokens give away has added fire to the fuel and now the transaction fee is really high and no one is happy about it other than eth miners or platforms like uniswap that charge comission on every transaction.
The average fee for transactions on Ethereum has reached its second-highest level ever, after setting the record earlier this month.
In brief
Want to read more?- Go through the link- https://decrypt.co/42365/etherum-fees-double-in-a-week-as-defi-heats-up
In brief
The average Ethereum transaction fee rose to more than $11, more than double last week’s figure.
Daily average fees still haven’t dipped below $2, continuing a record-breaking streak.
More hash power is being added to the network.
Daily average fees still haven’t dipped below $2, continuing a record-breaking streak.
More hash power is being added to the network.
Want to read more?- Go through the link- https://decrypt.co/42365/etherum-fees-double-in-a-week-as-defi-heats-up
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