Topic: I'm getting tired of the high fees for gwei - page 4. (Read 567 times)
Of course, not only you, but also many users do not like it. At times, you can catch a smaller commission, but still not as much as you would like. Personally, I use other networks, but I forgot about eth until better times
I think it’s because of the recent meme coin craze which led to increased transactions on the ETH chain. It’s caused fees to be much higher than usual. I think the average gas fee is $45 right now, it’s ridiculous but it’s how it works. Maybe hold off on sending until the inevitable meme coin collapse results in less liquidity & volume.
This is the norm even in the last times when the NFT games are trending the transaction fees are crazy. even though they had already done multiple updates, it seems like they cannot remove this problem because they are obviously gaining with it and they taking some advantage of the users who don't really pay attention or who don't really care about it because for them those amounts are nothing and just some norm. That's why the other competitors are taking advantage of this but they seem having a hard time breaking the throne of Ethereum because until now they haven't managed to beat it in terms of price.
The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.
Best not to do any transaction at the moment where transaction fee is so high so that you will not deal with huge transaction fee also the congested network which is happening these days. Better wait for the network became more smoother since this is the way you can find more convenience sending some funds on anywhere you want.
But for now its not ideal to send up something since maybe you might experience what other people experience where they don't have any choice but to pay higher fees just to make their transaction push thru.
These days it's meme coin PEPE not defi or nft. Until ethereum solves scalling issues I don't see a way out. When ethereum was at $4k, people were paying gas fees in hundreds, this is still much toned down.
To avoid getting front-run use cowswap or use mevblocker. Anyhow, you don't pay extra if you get front-run but dexes like on uniswap you have to do two transactions first approval and second swap itself so you pay more.
Thats because od heavy usage happening now on some memecoin the eth network. Even sending tokens to exchange has needed tons of fees. Ive even spend $39 for a token just to send it on Binance hence if I used it on uniswap Id be spending more fees due to possible frontrun. But tou muat wait for it to cool down or used other network for now.
To avoid getting front-run use cowswap or use mevblocker. Anyhow, you don't pay extra if you get front-run but dexes like on uniswap you have to do two transactions first approval and second swap itself so you pay more.
You're wrong, DEFI and NFT aren't the reason why the Ethereum network fee is high, it's because of MEME coins e.g. PEPE and the friends. But this not only happen on Ethereum network, but in Bitcoin network too, those MEME coins are run in Bitcoin network, it's called as BRC-20.
I'm not really followed Arbitrum, but it said to be solve Ethereum's scalability. But if you're actually trade MEME coins which using Ethereum network, you have no choice.
I'm not really followed Arbitrum, but it said to be solve Ethereum's scalability. But if you're actually trade MEME coins which using Ethereum network, you have no choice.
The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.
Let's all say thanks to the useless meme koin PEPE, which littered the ETH network and made transactions at $70-100 again. Both bitcoin and ETH again show inadequate value when transactions are sent. The most popular blockchains are so cheesy and so expensive. Paradox. I wonder when PoS, which Ethereum has switched to, will already solve these eternal problems with transaction costs?
An alternative approach is to consistently evaluate any cryptocurrency you intend to trade against other blockchains that offer more affordable transaction fees. It's worth noting that other blockchains such as Algorand and Binance Smart Chain also support NFTs, hence it's wise to consider trading on them, particularly when they have comparable or reasonable prices.
as you said, there are other networks that are offering lesser or cheaper fees. check the token if they are supported by these other networks. if not, and you feel you are stuck with eth, one thing you can do is check the eth gas tracker. and right now, the fees are indeed high. but in some instances, they are low. if the op can still wait, why not transfer the token when the gas fees are low?
The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.
Most of the projects under ETH network has a better chance of getting pump compare to other network, the only problem is indeed their ETH fees and even after the updates, there’s still no solution for this. ETH have to solve this, because other network might sees this as an opportunity for them to grab. The higher fees are because of the hype and congested network, and many left with no choice but to deal with it. The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.
If possible and there's another alternative I don't want to use Ethereum right now, the fee is quite high if you need to transact right away you will be disappointed that you did transact, you could wait but sometimes waiting could take 48 hours before you see gas fees going down and sometimes it might even go up, right now not only Ethereum, there's also congestion on Bitcoin my friend's transaction took 5 hours for one confirmation.
People should have an alternative whenever there's a surge of transactions or they will stick with the choice of proceeding with the transaction even if they are going to lose a lot.
An alternative approach is to consistently evaluate any cryptocurrency you intend to trade against other blockchains that offer more affordable transaction fees. It's worth noting that other blockchains such as Algorand and Binance Smart Chain also support NFTs, hence it's wise to consider trading on them, particularly when they have comparable or reasonable prices.
as you said, there are other networks that are offering lesser or cheaper fees. check the token if they are supported by these other networks. if not, and you feel you are stuck with eth, one thing you can do is check the eth gas tracker. and right now, the fees are indeed high. but in some instances, they are low. if the op can still wait, why not transfer the token when the gas fees are low?
An alternative approach is to consistently evaluate any cryptocurrency you intend to trade against other blockchains that offer more affordable transaction fees. It's worth noting that other blockchains such as Algorand and Binance Smart Chain also support NFTs, hence it's wise to consider trading on them, particularly when they have comparable or reasonable prices.
I think it’s because of the recent meme coin craze which led to increased transactions on the ETH chain. It’s caused fees to be much higher than usual. I think the average gas fee is $45 right now, it’s ridiculous but it’s how it works. Maybe hold off on sending until the inevitable meme coin collapse results in less liquidity & volume.
Damn it. It only takes a memecoin to disrupt the adoption of crypto. It shows how vulnerable the networks are if outside forces do it deliberately.
Another frustrating part, other networks also have high fees. Using BTC still is preferable but it will take hours to days for its confirmation. This kind of problem have been occurring since but ETH had not solved it.
The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.
most of us reckt with those high gas fees buddy
I think it’s because of the recent meme coin craze which led to increased transactions on the ETH chain. It’s caused fees to be much higher than usual. I think the average gas fee is $45 right now, it’s ridiculous but it’s how it works. Maybe hold off on sending until the inevitable meme coin collapse results in less liquidity & volume.
That is why many mainnet / layer 1 projects developed to replace the mainnet of etherum (Erc20) such as Binance, Solana, Avax, Arbitrum and Sui are to make it easier for crypto users to use the blockchain they want. Hope ETH 2.0 will be released soon and increase the community hype on crypto again in the next bullrun. Its crazy if we want transfer only we are needs high price gwei around 10-15$ its no make sense 
L2 was only making ethereum even worst. This stupid L2 blockchain was always sending bulk of transactions to the L1 that was triggering the network to be very slow at this moment. It also charges very high fees.
Im also very tired to use ethereum. I avoid to use this for now. I use another blockchain instead of ethereum. The fees doesn't even make sense right now.
Im also very tired to use ethereum. I avoid to use this for now. I use another blockchain instead of ethereum. The fees doesn't even make sense right now.
Look for DeFi or NFTs that uses the Binance chain then you will save yourself from the expensive fees that Ethereum offers. You are not alone, I have seen and felt it too before that's why I am not using Ethereum anymore for transactions especially if it's an ERC-20 deal.
The cryptocurrency world is wide, you always have a choice and if that is avoiding Ethereum transactions then use other chains instead.
There are also projects that are building their own blockchain because they are also trying to avoid this. Their problem is investors are being driven away just for the single reason of the high transaction fees. That is not good for business and will just end up in bankruptcy instead of making more money.
The cryptocurrency world is wide, you always have a choice and if that is avoiding Ethereum transactions then use other chains instead.
There are also projects that are building their own blockchain because they are also trying to avoid this. Their problem is investors are being driven away just for the single reason of the high transaction fees. That is not good for business and will just end up in bankruptcy instead of making more money.
The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.
yes, today, the gas fee, to be honest, is not adequate in reality, now it’s not profitable to drive altcoins from wallet to wallet unnecessarily, but just recently, 5 years ago, it was possible to drive to different wallets regardless of the price of gas, since the price was miserable and did not pay attention to the waste of gas The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.
Yes, that is correct. The high fees for Ethereum transactions are a result of the network's supply and demand dynamics. When the number of pending transactions on the network exceeds its capacity, users have to compete with each other to get their transactions processed by offering higher fees (in gwei) to the miners who verify and validate the transactions.
@OP, check your coin if it's possible to be found in other networks and if it's being supported by multiple chains. Like Polygon and BSC, these two are currently not that much compared to ETH's gwei.
It's really terrible to see the fees go up because of those transactions that are being done and if you're in a hurry, you have to oblige and pay those crazy fees. But before anything else, you might as well do check if it's on other chain to save fees as I've said.
It's really terrible to see the fees go up because of those transactions that are being done and if you're in a hurry, you have to oblige and pay those crazy fees. But before anything else, you might as well do check if it's on other chain to save fees as I've said.
Jump to: