Topic: Is Ethereum Gas Fee a Burden for You? (Read 610 times)

If the sol and the likes of it won't move and innovate faster, in fact..

Fees fluctuate according to on-chain network activity. ETH is cheap now because the network is not as congested as before. Things have calmed down a bit, as the hype moved into other chains such as Solana and TON. Once ETH becomes viral again, fees will rise all the way to the moon. Luckily for us, ETH developers are working on a long-term solution to scale the Blockchain. Upgrades such as ProtoDanksharding and Danksharding will make ETH great again. Just like in the early days (low fees, fast confirmation times).

Who needs to switch to a L2 network or an altcoin, when you can have everything in one place at a low cost? If ETH does things right, it will remain the second-largest crypto by market cap forever. I'd keep this coin in my portfolio for long-term profits. Just keep buying, and "hodling", and forget about the rest.

yea everytime there's rally, the tx fee increases, even TGE event as small as some random project already can cause the gas fee of ETH to go up to around 20 gwei and even more.
this network is just too unreliable to be used for daily purpose because the never ending fee problem. the eth fee plummet maybe because the blockchain is getting unusually lower transaction and only got the metric inflated by the blob transaction from l2 settlement, the real tx that interacts with defi protocols aren't so much so the fee is going down.

now that BTC bull is starting again, fee going up again, kinda shows that ETH is unsolved piece of puzzle.

I would say Layer 2 is not the way to go when the gas fee for ETH is this low. The switch from PoW to PoS was done because of this, and didn't happen that quickly because there was a huge congestion with bunch of transactions just stuck, and with bomb to pass most of them, and the price going down ,we finally reached a point where there isn't too much stuck anymore, and everyone else could just keep using it for nearly free price, it's very cheap. I understand it's fast as well, it's about 30 seconds at most, and it's 14 cents at the most, which means ETH finally reached a point where you can use it to pay something in a shop.

Bitcoin can't be used for that for example, takes many minutes, and costs a lot, so you would be standing in the shop for many minutes waiting for confirmation, but ETH can be, it used to be not available too because it would be too expensive, but now it's cheap and fast, so you pay and leave and all it takes is thirty seconds.

Totally really depends on what are the coins that you've been that dealing into because there would really be those  times or moments that you do get some coins on other various sources on which
you might be ending up on dealing with some erc20 on which gas fees is really that high specially if its a coin which does have that tons of transactions queued on which this really causes up that
kind of fee spike up. Actually its not really that new anymore into ETH and thats why there would really be those investors who doesnt really like on dealing up with it because the fees were high.
If we do really tend to observe about the intensity of meme coins that being created on such blockchain or lets say you could be able to distinguish on how many is really that trying to make coins on certain blockchains on which fees are also considered to be a turning point or really that having that considerations like on what we do see in solana network. Right?

Couple of times that I become a victim of this networks issue of Ethereum and now I learn how to manage not relying in this network specially when. There is some growth in the market and so with that? I am now having multiple currency to use in terms of alt coins and that made me safer transacting when there is a hype like what happened couple of times this year.

The rally for BTC in full force isn't there yet, so only time will tell, you are totally right, in my opinion, too.
Then it would blow the price a bit up 

Seasonal mate, specially when there is a pumping market then expect that too much high for Ethereum network and that is what I hate when happen.

Are we expecting anytime soon for another gas hype?
Maybe I will be ready when it comes along the way .

yeah, they just reallocate transaction, processing it in the lower hierarchy of blockchain like L2 and call it a day.
it's by no means a solution, the tx in the main blockchain will still costs a lot to process because I think there's no improvement in the main blockchain's scalability, it's more of a duct tape to fix a hole, basically just temporary solution, i really hope that they can make solution to this because I know most of the developer still ridiculously deploying their contract in the main blockchain and whatever event they be doing, always being held in the main blockchain which is kinda ridiculous.

ETH really need to step up their games.

They did "fix" the high gas fee issue. Although, not directly. You can just switch to a L2 network such as Arbitrum or Base for complete peace of mind. No need to exchange ETH for another coin. But I understand your concern. Especially when most people don't have the time to learn how to use a L2 network. On-chain scaling is ETH's best bet towards attracting the masses into it.

I'd say competitors such as Solana and TRON are doing a better job. Even Avalanche is getting traction. ETH developers better get their act together before it's too late. Otherwise, ETH will lose a large portion of the market share soon. I've noticed that gas fees decline towards considerable levels very early in the morning each weekend. Might be a good chance to send ETH cheaply if you don't mind the wait. One thing for sure is that fees won't stay high forever. There are better days ahead for ETH holders. Just you wait and see.

Ethereum gas these days is still doable tbh; as long as we don't see it in hundreds it's good.

For you using Tron, how much gas fees you pay? And if you have TRX staked for free/cheap transfers, how much have you staked?

That’s been the problem with the ETH network, which is why I stopped using it a long time ago. I thought they’d fix the high network fees, but it’s still disappointing that they're so high even now. The TRON network offers better gas fees for me, especially since I use it for USDT whenever I gamble. With fees like that, I also think centralized options are better; ETH and other solid altcoins seem best for just investing purposes now.

Justin Sun is overall a figure that is associated with TRON and its image amongst people, and I wouldn't say that he is - credible -. Ambitious, cunning, and tricky - yes, totally. He would say many things to get what he wants eventually.
Interesting to see how the situation will evolve.

I believe it's still on the work, Justin Sun promised q4 of this year, don't know whether it's end of Q4 but it's already work in progress



from my understanding though, it's still unclear whether his team trying to create different protocol tailored specially for stablecoin deployer that is gas free or trying to create his own stablecoin, it's still unclear.
but honestly I don't have too much hopes on tron blockchain.

or maybe it can be an entirely different idea, creating paymaster like protocol that allow fee paying using the stablecoin itself. so I can be wrong.

Burden when there is  a jump in transaction gas but when its back to normal? I still uses Ethereum for safety transacting so  for me this is not really a burden(at least for me)

No, I am not burden because of the fees because if the fees is not increase up to $5, that will be okay. But if the fees increase suddenly to more than $10, I will delay my transaction and will waits for fees decrease a lot.

Before you make a transaction, you can see how much the fees you will pay so you can decide what is best for you. If you have many Ethereums, maybe that will be no problem for you but many people don't have that so they need to delay their transaction for a while until the situation is back to normal. We need to be wise with the current situation and not force to pay the high transaction before we regret it later.

No idea about TON, but since when transactions are free on Tron? Last time I tried sending USDT, it took ~2 USD for transfer? Has things changed? Or if you are talking about staking TRX to enable free transactions, it's not really free, but still if it required little amounts of TRX staked then I would understand but it's not so, last time I checked, it required hefty amount of TRX staked to enable these free transactions.

ethereum gas fee is really complicated and tricky thing to solve not because technicality but because it also needs to be profitable for validator and the L2 while at the same time still cheap enough for a transaction fee.



however surpisingly the other chain despite significantly less cost in term of fee compared to ETH, still make as much revenue as ETH, which means ETH is an unnecessarily expensive blockchain, because the elevated gas fee that's still unsolved to this day (although getting better fairly speaking) still, people would prefer to avoid using ethereum directly and try to find cheapest path.

though speaking about the free of charge tx between same bank in centralized entity like bank, there's something that may have chance to compete with it and yes it is, ton and tron's no tx fee for stablecoin transactions.

Is Ethereum Gas Fee a Burden for You? It is frennn I mean I love the decentralized things but when it comes to fee I just like the Centralized thing hahahah I mean if you transfer from the same bank you pay no fee. Tho I don't care if they charge a low fee like a dollar or two but this

Regarding your thoughts, I do think they have their share in what is happening with ETH, but then again, BTC also experiences some corrections and shake-ups before the bull comes into full swing.
Overall the answer for me would be - yes, but it's not the only and the main factor going.

It was the first in its league.
That's why it's still up in its place under the sun.
Though this position can be undermined in the future Only time will tell.

That is what I'm about to say. Maybe before yeah, that ETH is the king when it comes to it but now not anymore. ETH still remains to be the king though when it comes to altcoin rankings. When I say altcoin, that already includes tokens. The reason that you said there is also the reason to what I said there.

Another reason would be is that ETH is still the most secure blockchain in the altcoin category. Its quality is also top-notch. Haven't heard of that Kamino project yet but this looks like a new project, so it is not surprising for me on why AAVE's TVL is much higher than it. With lots of projects on SOL, you only mentioned that project. It must be a rising star. That was surprising because I thought DeFi's (specifically the lending ones) are not relevant anymore.

Like you said earlier, there are already new blockchains now (lots of them), and as you said again, that have affected ETH but I think this is not permanent because meme coins are only seasonal, while ETH and most of its projects aren't. This is the advantage of having a real-world use case because people always have the reason of using them. If only they don't exist, most of the demand will only go in ETH but it is still impressive of knowing the fact that ETH is still standing strong and have defended its throne.

You are right. Now everything can be gud, but more innovation may be needed to keep things going.
The market and the projects don't stay static, they evolve, and some are victorious, changing the narrative and possibilities.

the smart contract nowaday is very basic thing that every new blockchain is having though, I think the reason why ETH will always have the support because the big defis are already in ETH, AAVE for example with its 10 billion TVL completely dominate kamino, a solana defi (lending platform) with 1 billion TVL even though ethereum revenue has been low compared to solana's revenue due to the influx of capital from the meme trend.




on top of that, ETH also got the biggest USDT minting allocation from tether, so it's no wonder that despite lacking in scalability, ETH is still heavily sought after.
but the problem is, once people realizes that there's other platform out there other than the big ones in ETH, maybe the capital will move and ETH might lose some of its market capitalization.

Surprisingly ETH is really on such condition on which even no matter how high the gas fees are but still there's really that a strong community backing up this project/coin on which means that there's no way that
it would be sitting on rank #2 in the overall market if there wasn't that kind of support. Cant really be dnied that im really that pissed when it comes to high gas fees, specially on different situations such as;

1. Making up some buy and sell on decentralized exchangers
2. Making up some transfers whether withdrawals or deposit on exchange platforms
3. Network clogged
4. Too much volatility or traffic on a certain coin

Those things above the common situations or scenarios that you are really that could possibly be able to experience and sometimes you dont have that kind of option or choice
specially if you are really that needing up to push through such transactions on which we know that this is something which is really that too painful specially on average traders or investors that only have
sufficient money that they are really having on their pockets. If you are some sort of whale then this wont really be a bothersome thing for you since you could be able to pay up those fees without issues.

The best thing about ETH is into its smartcontracts feature and thats why it isnt shocking that community will really be always having that kind of support
because of its utility and there's no doubt with that.

Of course the main basis of a project to keep running is the community, they dominate the community very much and there are still many projects that depend on it getting wider and bigger, in terms of community.

A strong community will build a strong project, so far it has been very good but basically for this cycle altcoin is not so good when compared to bitcoin which has printed a new ATH in the last few months, I want to see that in ETH too but it seems not the time and because maybe the ETH community is divided so it doesn't focus on ETH as an investment but their second layer which is an alternative use of ETH.

What do you think about L2 ETH, are they the ones who influence ETH's performance in price movements in this cycle?

As long as there is a community behind a project, not many people care about what kind of stuff there are left and we should be considering the situation a little bit similar to any other project that does fine. As long as there is a good one, we are not going to really care about what's going on, we should be fine with it and not deal with anything at all. I understand there are situations which is not that big of a deal, but this one seems like ETH is way too big compared to any other alt.

This is why I think it is going to stay powerful, while I disagree that it's centralized, it doesn't even matter in this discussion because it could be decentralized or centralized, as long as there is a massive support from the community then there is really nothing else that we can do about it.

It will stay as high as it is right now as long as there are people who are willing to invest into this, and so far we have not seen an indication that it will not do great, ETH has been great so far and all the evidence proves that it will continue to do greatly and we will not end up with anything amazing. We should just consider how things could change and how we are going to end up doing greatly.

Interesting. Never thought about it, thanks for bringing the info! I think it's still worth it, though If you have your portfolio ready.

the fee going down so much the revenue becomes really low I wonder if it's still profitable to become a validator in ethereum blockchain since it requires staking as well which also means exposed risk of volatility.

ETH as a mainnet only make revenue around $400k



while layer 2 blockchains are making fee around $80k as a whole, from the data in token terminal.

don't know whether it's truly intentional or not by the dev to bring the revenue this low.

For ethereum this could be a result of a function that most of the project are solely launching on their side chains due it previous gas hike, and of course the gas should be low because of its less activities, unlike the bnb chain, polygon and others whose fee were far much cheaper and easier to use.

All have their flaws, it's your choice which set of them you pick for yourself, in short

More interoperability yes, I believe it will be achieved but massive decentralization? No, I don't think so. Even not massive but only more or even a few of it, I will still doubt it. All the times, ETH is always known to be a centralized type of crypto and the more they became centralized when they switched their mechanism from POW to POS. ETH is the first altcoin and by this, their support is already huge.

It can still grow huge because day by day there are new cryptos that came out and a few of them can be the next big thing and each big crypto will also/always look for a collab because they know that it can make them much better. If we are into technicalities then we may find ETH to be a not-so-good coin but if we are only in for investing purposes, then I can say that it isn't that bad and there will always be a demand for it. In investing, it's also a good idea if one can make a diversification. For me, I will make BTC as the base of my crypto investment or portfolio, then next would be ETH and others.

ETH do also has a smart contract, so devs here can also create their own app in the ETH network and each crypto has their own charm, so each has their own shining moment. Also, each has their own flaws, and we already witnessed each of them in our long stay here in crypto.

Their focus is indeed more on interopability, perhaps aiming for massive decentralization and can be connected to many ecosystems easily so that it is much bigger, but if you focus too much on it, it will indeed be ineffective if their TPS is bad, it will become accumulated and dangerous in the future, if it is maintained like that it will make Ethereum lag behind.

Seeing the development of Solana because they have technology that ethereum does not have makes it easier for developers to create their own applications on the main solana network, but several times Solana also experienced congestion problems that were so annoying that their blockchain was even maintained for a long time.

ETH put too much burden of solving scaling on its L2 they forgot to fix scaling issue in the main chain which for some reason so many developer still decide to deploy their coin in the main chain instead of utilizing the fact that we already have interoperability protocol like layerzero that allow for token deployment across various chains but some devs really like taking the more expensive way of deploying to ethereum blockchain only which is ridiculous.

if it has come to this, I think aside from using L2 to solve the gas issue, ETH also need to fix their main chain to increase TPS, because so many project already decided to not use ETH and move to non EVM blockchains like SVM (solana).

Yes, the ethereum gas fee is quite disturbing for me, especially on the main network which is busy using, it will make me suffer and have to burn more money for transaction fees.

But when Normal I think it's normal, and not a problem, but it's the instability that will be disturbing in the future, especially if the ecosystem and network continue to grow and the main chain is getting busier, it will result in a significant price increase.

Thankfully we are not in that period right now, but it is not unlikely that we will get to that period eventually as well, so that may actually happen. I am not saying that we are going to have something that will be close to that, it may or may not happen, we are just talking about a bull period.

If the price of ETH reaches something like 10k for example, that means that we are going to end up with a result that will not be cheap for gas fee either, we will see that go up too.

So, it's all about the fact that we have a bull period and when we do the gas fee goes up as well. But that is basically a balancing situation as well, you are paying a lot more when that happens, like you said 150 was paid for a while and wasn't really uncommon situation if you want to use a DEX for example, but at the same time since it was the bull run, we would end up with some good returns as well and make some profit.

Meaning that while we did had bigger expense, we also had bigger income too, so that really worked out fine for us. That way it makes quite good sense for us to keep that going. I am not sure if it will be the same again, but I feel like next 8-10 months will probably be similar to that again.

It's about 20 cents right now, I really do not think that it is going to be a problem for a while longer. I understand that it may not feel like it is going to be like this for a long time, and you may fear that it may go up super high very quickly, but the reality is that we are going to end up with them very slowly, because even during bull run, it takes time for the chain to get clogged so it takes time for it to reach those highs.

It can be a few dollars very quickly, that's not my point, but anything under 10 dollars is fine and that's what we will be for at least end of this year. Anything above 10 dollars (which happened before) will happen very late and not anytime soon at all, will be something that takes a bit of a time.

That's true, but it's only happening for Ethereum transactions only. ERC20 transaction fees are still high, despite a big drop in Ethereum gas fees.



As my picture above shows, the fees for swap, Lping, bridging, or borrowing are still quite high.

I hope that ERC20 transaction fees can be lowered in the future. This could happen by implementing a new update to increase Ethereum's scalability.

ERC20 transaction fees are burdening me when i use the Ethereum native blockchain. I think it's not only me, but all Ethereum users are also feeling the same.

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.

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.

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.

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.

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.

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.