Topic: GAS fees on the ethereum network are slowly falling - page 2. (Read 453 times)
There is no solution that can solve this problem on Ethereum's side. There must be something that triggers a reduction in the cost of gas on ETH. Perhaps many have switched to bsc to be one of the causes, resulting in a decrease in transactions on the ETH network, and if this continues, it is not a good thing for ethereum's survival.
I noticed it today that the gas fee has been less than 100 Gwei today. I doubt if its a long term improvement or simply based on the fact that the market is less congested. I recall there was a news about the ethereum 2.0 project having a great impact on the transaction fee of the blockchain, I hope it works.
I think the gas falling is as a result of people migrating to BSC and other chains for their Defi projects thereby reducing the workload on ethereum on-chain network. Another reason could also be the dump we experienced 3 days ago, some persons staying off-trade. I assure you the high gas fee will soon be back until the real issue is finally fixed.
It's good news for me as I am holding some tokens in my Ethereum wallet. To take them into CEX, I have to pay more than their value. So, hoping for more decrease in the gas fees.
Today you can do several transactions with the tokens in your Ethereum wallet, because Gas fees on the Ethereum network have decreased significantly, but I am still not sure whether Gas fees like this one will last long.
This high transaction cost in Ethereum is a slap in the face of those who have come to believe in cryptocurrencies. This has been a significant disadvantage for those who only have a few coins or tokens.Maybe Layer 2 would make it far more competitive for blockchain Dapps, but like I previously said, gas prices would not be reduced. The price would be determined by the demand.
I don't know for sure the cost will go down, it will continue to be like now or it will come back expensive in the future but what is certain is I am quite happy because now the cost is better than few days ago, and hope it will be like it used to be (normal and cheap)
I don't really know why the gas fees are dropping at the moment. Maybe because recently a lot of projects and therefore users switched to BSC which reduced the network congestion of ETH. Making a swap is still too expensive in my opinion, because little trades with a volume of 50$ or less just don't make any sense at the moment when you have to pay a third of that amount as gas fees.
This is exactly what i was thinking after seeing the topic, they are planning for the network upgrade but i have not heard about implementing them completely to have any changes in the network fees, it may be because majority of the projects shifted to BSC and may be that is the reason the fees started to come down. Personally i have not done any ETH transaction for a long time may be once in the last one month just to sell off some of my holdings when the price crossed $2k.On April 15, the Berlin hard fork occurred, one of the goals of which was to reduce commissions in the ethereum network. Finally, the problem with high fees should be solved after the Ethereum 2.0 update, when the network bandwidth will be increased. But even today, the network commission allows you to perform transactions with minimal costs.
It looks like many of the ERC20 tokens is migrating on BEP20 chain due to the low price of the Binance smart chain fee. Probably this is one of the major reasons why ETH gas is slowly falling. I just hope that the upcoming update of ETH will fix the problem on their ever-rising gas fee whenever the network is congested.
In recent days I have seen the price of GAS go down. which was above 100 is now starting to get closer to 50. This is very good for the future, what's more, the problem of the high cost of Ethereum transactions has been quite a while. The question is whether this will continue until the gas fees return to normal, or will there be an increase again as transactions become more intense on the ethereum network.
for those of you who want to see the latest GAS prices you can see it at https://ethgasstation.info/
for those of you who want to see the latest GAS prices you can see it at https://ethgasstation.info/
Even if they are slowly falling, there are no guarantees that it will continue to downtrend. Once the Ethereum price spikes up again, so as the gas fees. This is why it's totally absurd to initiate a transaction where sometimes fees are just more than the amount we wanna swap (I have experienced that one time). We have seen the crypto market gone a little bloodbath before it slowly rebounds again. As long ETH 2.0 is not yet fully launched and implemented, this gas fee problem would remain for a very, very, very long time.
the transaction fees on the eth blockchain are variable during the day if for a few days they will remain at an average of 50 gwei then we could say that they have really dropped, let's hope so
That's a good news then and I've checked that after reading your post OP. This is now going to save a lot of ETH for those who have been transacting through ETH.
There's no reason now to complain but the question if this is going to last or how long it will remain in low fees. Hopefully that this is the start of it that the fees have already calmed.
There's no reason now to complain but the question if this is going to last or how long it will remain in low fees. Hopefully that this is the start of it that the fees have already calmed.
In recent days I have seen the price of GAS go down. which was above 100 is now starting to get closer to 50. This is very good for the future, what's more, the problem of the high cost of Ethereum transactions has been quite a while. The question is whether this will continue until the gas fees return to normal, or will there be an increase again as transactions become more intense on the ethereum network.
for those of you who want to see the latest GAS prices you can see it at https://ethgasstation.info/
I myself don't know whether Gas costs on the Ethereum network will really be normal from now on, because the increase and decrease in Gas costs always happen every second on the Ethereum network, I see this on the site https://etherscan.io/gastracker for those of you who want to see the latest GAS prices you can see it at https://ethgasstation.info/
To be honest, I don't know how much gas fee I've been contributed already on the eth network when I am using uniswap and dexes. Last time Ive check is 3.39eth already have been consume for my gas fee on my wallet. Excluding other wallets I've used. Damn when I thinking of this I don't know how much money has been going only on fee that supposedly can be used for a living damn ethereum kindly step up a bit.
true, this is already very detrimental to us, which only takes a long time to collect Eth, especially with GAS that has been a burden for a long time and if collected, like what you have spent on GAS costs. imagine the number 3.39eth is not a small nominal. for us as small traders it is much more valuable than our trading income for more than one year.
I don't really know why the gas fees are dropping at the moment. Maybe because recently a lot of projects and therefore users switched to BSC which reduced the network congestion of ETH. Making a swap is still too expensive in my opinion, because little trades with a volume of 50$ or less just don't make any sense at the moment when you have to pay a third of that amount as gas fees.
This is exactly what i was thinking after seeing the topic, they are planning for the network upgrade but i have not heard about implementing them completely to have any changes in the network fees, it may be because majority of the projects shifted to BSC and may be that is the reason the fees started to come down. Personally i have not done any ETH transaction for a long time may be once in the last one month just to sell off some of my holdings when the price crossed $2k. In recent days I have seen the price of GAS go down. which was above 100 is now starting to get closer to 50. This is very good for the future, what's more, the problem of the high cost of Ethereum transactions has been quite a while. The question is whether this will continue until the gas fees return to normal, or will there be an increase again as transactions become more intense on the ethereum network.
for those of you who want to see the latest GAS prices you can see it at https://ethgasstation.info/
for those of you who want to see the latest GAS prices you can see it at https://ethgasstation.info/
Thank god the days of 200 gwei and more seem to be gone.. at least as of now. At the moment we are at around 55 gwei which means around 3 $ for an ETH transfer, 6$ for an ERC-20 Token transfer and around 15$ for an uniswap trade. I don't really know why the gas fees are dropping at the moment. Maybe because recently a lot of projects and therefore users switched to BSC which reduced the network congestion of ETH. Making a swap is still too expensive in my opinion, because little trades with a volume of 50$ or less just don't make any sense at the moment when you have to pay a third of that amount as gas fees.
In recent days I have seen the price of GAS go down. which was above 100 is now starting to get closer to 50. This is very good for the future, what's more, the problem of the high cost of Ethereum transactions has been quite a while. The question is whether this will continue until the gas fees return to normal, or will there be an increase again as transactions become more intense on the ethereum network.
for those of you who want to see the latest GAS prices you can see it at https://ethgasstation.info/
for those of you who want to see the latest GAS prices you can see it at https://ethgasstation.info/
it is possible that transactions have started to get low due to improvements from ethereum. Because ethereum holders have always complained about that, I think this is an improvement on the part of ethereum. and we hope that in the future the gas price will be lower so that there will be no more complaints from eth holders themselves.
In recent days I have seen the price of GAS go down. which was above 100 is now starting to get closer to 50. This is very good for the future, what's more, the problem of the high cost of Ethereum transactions has been quite a while. The question is whether this will continue until the gas fees return to normal, or will there be an increase again as transactions become more intense on the ethereum network.
for those of you who want to see the latest GAS prices you can see it at https://ethgasstation.info/
Not completely good, it shows that lesser people are transacting with ETH at the moment, ETH team haven't fixed the high gas fee issue so I suspect that many people aren't doing transactions on eth network right nowfor those of you who want to see the latest GAS prices you can see it at https://ethgasstation.info/
Again this is also bad news for ETH miners, their daily reward just got more lower than before
I have quite a few ERC-20 tokens, but I am waiting for the ethereum network to bounce back. I hope this will happen within a few months, after July.
Given the number of tokens issued on the ethereum platform, the popularity of this coin will recover in a very short period, especially if the update is successful.
To me its not a good news because it's a clear result that Ethereum is losing its magic wand, more projects are exiting the network for BSC, painful but truth, lesser people are transacting with ETH blockchain and that's bad
Utilising Ethereum nowadays is a waste of money for small time users. People can’t wait for the fix and starting to use other network that is why Ethereum transaction is slowly decreasing. Can’t sell erc20 tokens easily and missed significant pumps due to the gas fees mess.
This is good news for all coin or token holders who have been trapped in high GAS for a very long time, almost half a year the wait for cheap GAS is awaited. That way, not only sending coins from hard wallets to the market, but also from distribution campaigns that are under the Ethereum network will begin to be distributed immediately.
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