I have not used mainchain Ethereum in many years. Even if the gas price dropped to 1 gwei, I still would not use it. A simple transfer might be cheap, but anything that requires a smart contract, like swapping on a DEX will cost several dollars. The fees will really add up and you will end up spending hundreds of dollars in fees each year.
I have tried other networks like BSC, but the fees aren’t that low anymore because the price of BNB has gone up. L2’s have managed to keep fees very low, but they are really centralized and require you to trust that the companies running those networks won’t act maliciously to steal users’ money.
Topic: Is Ethereum Gas Fee a Burden for You? - page 2. (Read 340 times)
Yes, when it costs a lot, as long as it's around couple dollars it's fine. I've paid around $150 for swapping tokens on dexes back in 2021, and it just stings, and those are some of rare times when I cuss crypto. Back then, Ethereum made even $1000 look like a peanut amount.
Yes, layer 2s are cheap as well, I mean they are supposed to, but they also gets congested during peak times, as seen with Zksync and Arbitrum's case, so I don't really get purpose of their existence as of yet since they don't solve congestion problem they created themselves for.
Yes, layer 2s are cheap as well, I mean they are supposed to, but they also gets congested during peak times, as seen with Zksync and Arbitrum's case, so I don't really get purpose of their existence as of yet since they don't solve congestion problem they created themselves for.
the good ol' days of NFT also caused gas price to spike and even executing NFT transactions required thousand dollars like as you said, only right now that the price of the gas decreases significantly but I guess that's also because the market of NFT isn't as crowded as before and of course with the presence of L2 successfully helped in offloading most of the swaps tx to the L2 with its super low gas fee caused the gas price of ETH to be floating around 3-4 gwei.
I think this is significant improvement because the falling of gas price isn't because ETH is having lower daily tx but because the plant to offload tx to L2 really worked, as seen from the chart below daily tx still high.
Recent news indicates that Ethereum gas fees have plummeted to historic lows. According to Etherscan, the average mainnet gas fee has fallen to 4 Gwei, about $0.21, with some transactions costing as little as 3 Gwei, around $0.14. Additionally, Layer 2 solutions such as Optimism, Base, Arbitrum, and Linea are seeing transaction fees below $0.01.
Everyone hopes that the gas fees won't be as crazy as it was like on 2021 bull run. Too many projects have made the fees so high and congested the network. But I am worried if this time, there will be more projects that are into Ethereum network and will make bunch of transactions that shall clog the network. Because that's the reason always why the gas fees are catching up, due to the demand that it is getting from various projects that are running transactions through its network. I hope that we don't get back to the former when there are interesting projects that people would like to make transactions as required. Especially on the gaming part, there have been a lot of people that are playing a lot of games that have been run by this network. And if we go back to the former, I am sure that there will still be a lot of people doing their own thing and will pay these high transactions a.k.a gas fees. 
I feel like it is not about greed decreasing, I feel like it's about greed increasing. People who have seen btc go under 60k (and in relation all other coins go down too) were moving money around, making the pools quite clogged. But now that we have seen some up, people are holding and that means that there are less transactions going on. While I do agree that during bull runs the fee is high, and during bear runs the fee is low, meaning that when the fee is lower like now, it usually means that the price is lower and people are less greedy.
But right now is not that case, we are in a situation where it is actually quite reasonable to expect the price to go up, and because of that people are holding and not selling anymore. That holding causes the price to go up, but it also means that people are not selling all that quickly neither, so it is causing the price to stay high while keeping fee low.
I think it is going to go on a bit more like this. What could happen would be price going up even more, and if we do that, like see 70k+ for example, then in that case it is going to be something special without a doubt, it could definitely be a positive situation for everyone but fee could go up if it peaks above too much.
But right now is not that case, we are in a situation where it is actually quite reasonable to expect the price to go up, and because of that people are holding and not selling anymore. That holding causes the price to go up, but it also means that people are not selling all that quickly neither, so it is causing the price to stay high while keeping fee low.
I think it is going to go on a bit more like this. What could happen would be price going up even more, and if we do that, like see 70k+ for example, then in that case it is going to be something special without a doubt, it could definitely be a positive situation for everyone but fee could go up if it peaks above too much.
Yes, when it costs a lot, as long as it's around couple dollars it's fine. I've paid around $150 for swapping tokens on dexes back in 2021, and it just stings, and those are some of rare times when I cuss crypto. Back then, Ethereum made even $1000 look like a peanut amount.
Yes, layer 2s are cheap as well, I mean they are supposed to, but they also gets congested during peak times, as seen with Zksync and Arbitrum's case, so I don't really get purpose of their existence as of yet since they don't solve congestion problem they created themselves for.
Yes, layer 2s are cheap as well, I mean they are supposed to, but they also gets congested during peak times, as seen with Zksync and Arbitrum's case, so I don't really get purpose of their existence as of yet since they don't solve congestion problem they created themselves for.
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It's already cheap enough for me actually to interact with many contracts specifically swapping tokens but considering the competition like solana and the new TON is dirt cheap, i think ETH should do more in fixing its scalability issue.
the problem that still persists with ETH despite introduction of blob to further increase efficiency of L2 is the occasional fee spike, whenever there's airdrop claiming event the gas becomes expensive again and jumps to around 15-20 sometime even 30 if the airdrop is big enough to cause network congestion.
this gas heatmap still indicates that apparently the occasional gas spike is quite frequent.
the problem that still persists with ETH despite introduction of blob to further increase efficiency of L2 is the occasional fee spike, whenever there's airdrop claiming event the gas becomes expensive again and jumps to around 15-20 sometime even 30 if the airdrop is big enough to cause network congestion.
this gas heatmap still indicates that apparently the occasional gas spike is quite frequent.
Recent news indicates that Ethereum gas fees have plummeted to historic lows. According to Etherscan, the average mainnet gas fee has fallen to 4 Gwei, about $0.21, with some transactions costing as little as 3 Gwei, around $0.14. Additionally, Layer 2 solutions such as Optimism, Base, Arbitrum, and Linea are seeing transaction fees below $0.01.
Not yet. I mean it will be, in 2021 when everything was on ERC20, that was a serious issue, and I mean like a very serious issue at that. Sure the gas fee was like 40 dollars or so at the time, but also there was this "approval" shit that took like 100 bucks too, so if you want to use something new, like let's say you did not use Axie ever before, you start with 150 down at the very first move, and on top of that you also made some investments as well, and when you are getting out you spend another 50, each time, and that 100 is gone forever too.I hated that, it sucked and I never liked it at all, was something quite terrible and I never wanted to do it again. However, at this moment there isn't really any hype around it and I am not seeing anything big at all, I feel like we are talking about something that would be considered a bigger problem when the alt season starts to happen, when that starts to happen then things could change and we could maybe have an issue, for the time being we are not there yet and I do not think that it will be a problem for a while longer.
If you check a bitcoin explorer, you will notice that the mempool has also decreased in congested so significantly. The greed has reduced while the fear has increased and these make people interest in buying crypto to reduce and the reason for the mempool decongestion. But about ether, I check a site for it just right now and I saw 11, 12 and 13 Gwei for slow, standard and fast confirmation priority.
Recent news indicates that Ethereum gas fees have plummeted to historic lows. According to Etherscan, the average mainnet gas fee has fallen to 4 Gwei, about $0.21, with some transactions costing as little as 3 Gwei, around $0.14. Additionally, Layer 2 solutions such as Optimism, Base, Arbitrum, and Linea are seeing transaction fees below $0.01.
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