Topic: Why ethereum gas price is very high? (Read 309 times)
Simply put, gas fee is the fee you have to pay if you want to make transactions on the Ethereum network. More precisely, it is a fee paid to miners as compensation for completing transactions on the Ethereum network. The more calculations (calculations) are required to complete the transaction, the more gas is required to complete the transaction.
ETH gas fee increased in 2020.This year ETH gas fee more increase. But BNB network transaction gas fee is too low.Now many people use BNB transaction. Recently ETH network transaction is very high gas fee and single transactioner face that problem hugely. I thinks they will be update 2.0 and solve this problem this year.
Recently?
It's like $180
Buying WETH in ronin becomes expensive.
I've heard binance allows that. However, we can't buy WETH in binance. There is no such market.
ETH gas prices increased more than 20 times over the time of 2020, Ethereum was the original blockchain to introduce smart contracts. There, in turn, allowed developers to build decentralized applications. With an increasing number of apps built on top of the blockchain, the network quickly became congested, and gas prices went up. It's like $180
Buying WETH in ronin becomes expensive.
I've heard binance allows that. However, we can't buy WETH in binance. There is no such market.
Ethereum gas price is very high because Ethereum is going to popular day by day and price of this coin is increasing so demand of this coin is too high.
Unfortunately, this is not entirely true. This is in some way related to the popularity of Ethereum, but not directly. As you wrote, popularity influences the price increase and also the number of transactions in the Ethereum network. And it is the increase in the number of transactions that makes the gas fee grow.
Recently?
It's like $180
Buying WETH in ronin becomes expensive.
I've heard binance allows that. However, we can't buy WETH in binance. There is no such market.
To be honest, the inode price for az in the Ethereum network reaches unrecognizable amounts, inode it is very annoying. What is the reason? Because this is the very first network that implemented transactions on the network, it is very popular and there are a lot of transactions on the network ... If such amounts remain, then I think many will change this network for another, because there are already many others and much cheaper. It's like $180
Buying WETH in ronin becomes expensive.
I've heard binance allows that. However, we can't buy WETH in binance. There is no such market.
Ethereum gas price is very high because Ethereum is going to popular day by day and price of this coin is increasing so demand of this coin is too high.
Recently?
It's like $180
Buying WETH in ronin becomes expensive.
I've heard binance allows that. However, we can't buy WETH in binance. There is no such market.
It's like $180
Buying WETH in ronin becomes expensive.
I've heard binance allows that. However, we can't buy WETH in binance. There is no such market.
High price of Ethereum, and high demand for ETH computing power, makes the network congested, and thus increases the price in GAS for transfer or smart contract interactions.
It0s basically question of supply and demand
It is because Ethereum network got famous nowadays and Ethereum coin has the most growing altcoin in crypto market and has the most volume. Unlike when it price is just under 300 usd, the gas fee ranged from 0.3 usd up to 1 usd, but now as the demand grows for ethereum network, the gas fee takes a high paying price, and then many investors and traders transfers from ethereum network to binance smart chain because of BSC network has only low gas fee for a transaction.
Lots of transactions are being utilized thats why gases are getting higher. I don't think that this could be solved in the upcoming months but I think ETH2.0 deployment of other phases of the upgrade could lessen up this price hike. Another thing is that EIP 1559 wasn't helping at all. 180$ is high, thats why I think other chains should step up and beat this up.
The factor is that queues on instant exchanges require high gas to get the earliest queue. The exchanges I mean are like uniswap and 1inch. These two exchanges are the main factors that make ethereum gas even higher.
Since the high cost of Gas on Ethereum I have started to leave both exchanges and it is very rare to even see it again, especially if to make a transaction there must have a capital of around $180 in general, this is clearly very unreasonable. 
In this point i said that not anyone know that why the etherium gas fee is so high. But everyone use a BNB and the BNB Gas fee is so low to compare the etherium and the Transaction speed is high so my opinion is that ETH solve this issue and this point the BNB use and price is increase very fastly.
The factor is that queues on instant exchanges require high gas to get the earliest queue. The exchanges I mean are like uniswap and 1inch. These two exchanges are the main factors that make ethereum gas even higher.
Ethereum gas fee has been denying a small trader like me from trading 
. And I think the massive adoption of NFT has someway, somehow contributes to the price hike. We just hope ETH 2.0 have it resolved.
But until now this has not been resolved by Ethereum where the price increase on Ethereum also continues to soar so that it is still very reasonable to happen even though it is not at all suitable for them as small traders. . And I think the massive adoption of NFT has someway, somehow contributes to the price hike. We just hope ETH 2.0 have it resolved. 
actually this problem has been discussed in many threads on this forum, ETH has not been able to overcome the problem of expensive transaction fees that occurred in ETH even though they have used a system of burning transaction fees, but I still think crazy people use higher gas to get transactions faster
I'm sure people don't understand how to regulate gas fees so they continue to make transactions with higher gas it's annoying, I believe ETH 2.0 will not help solve this problem, I'm more comfortable using other blockchains like BNB BSC and MATIC polygons are more attractive and inexpensive
I'm not a rich person who likes to burn hundreds of dollars just for transactions on ethereum
I'm sure people don't understand how to regulate gas fees so they continue to make transactions with higher gas it's annoying, I believe ETH 2.0 will not help solve this problem, I'm more comfortable using other blockchains like BNB BSC and MATIC polygons are more attractive and inexpensive
I'm not a rich person who likes to burn hundreds of dollars just for transactions on ethereum
Ethereum gas fee has been denying a small trader like me from trading . And I think the massive adoption of NFT has someway, somehow contributes to the price hike. We just hope ETH 2.0 have it resolved.
The settlement of Gas fees on the Ethereum network will not occur in the near future or when ETH 2.0 is happening because that has already happened and the impact on Gas fees transactions is not there at all as it is due to the price increase occurring on Ethereum itself.. And I think the massive adoption of NFT has someway, somehow contributes to the price hike. We just hope ETH 2.0 have it resolved.
Transaction fees increase when the activity on the market is too high. It is connected with current huge hype of crypto. There is an altcoin season now, so there are many people who are interested in trading. There are moments when activity becomes lower, for example on Sundays and evenings of Fridays, so you can try wait for decreasing. Also you can just switch to a cheaper blockchain such as Polygon or BSC.
I try to stay away from any ETH tokens as we speak, even withdrawal from cex exchanges are insane and yes uniswap is the worst of them all, most of my tokens are on matic and BSC chain, if market pumps harder in coming months it will be very difficult to buy ETH tokens
Ethereum blockchain is not reasonable anymore since they don't fix the fees and when you only decide to send small fees, you end up paying more than you send for the transaction fees. I wonder how will they be able to fix this since no end to this kind of problem since everyone is rushing to send their transactions, they don't really like to wait any longer. They just gonna pay whatever the current gas fees are and it will continue like that till the gas fees rise in just an hour.
Just growing pains.
Same reason why BTC fees were so high over the last bull run.
Way too many transactions that are happening, including gas wars on NFTs etc. which makes it very hard for your transaction to get a confirmation without a good gas. But once all of this NFT madness dies down I'd think that gas prices should be a lot more reasonable.
Same reason why BTC fees were so high over the last bull run.
Way too many transactions that are happening, including gas wars on NFTs etc. which makes it very hard for your transaction to get a confirmation without a good gas. But once all of this NFT madness dies down I'd think that gas prices should be a lot more reasonable.
I have 5 tokens stuck on my wallet that I cannot trade, it all becomes shit tokens because of the cost of trading or transferring it, as much as possible I stay away from Etherem based tokens and it's good to know up and coming projects with potentials are on BSC and MATIC if you are a small trader Ethereum is not for you, I really missed those times where I can send a huge amount of token for pennies.
If you invested in any token built on top of the Ethereum network then you are doomed as there is no idea when the situation will be back to normal but with the speed in which things are moving there is no way the Ethereum team will be able to sort the issues in the network during the rally. Majority of the projects were forced to have alternative chains, if not they will loose the investors and i am not willing to spend $40 per transaction to move some shit coins . 
Ethereum gas fee has been denying a small trader like me from trading . And I think the massive adoption of NFT has someway, somehow contributes to the price hike. We just hope ETH 2.0 have it resolved.
Obviously with so many tokens created on the ETH blockchain clogs it up and there are way too many transactions made on ERC-20 which is the basic reason for the high transaction cost and the slow confirmations. I believe the eth 2.0 will solve this problem but I am worried whether they have covered the scaling bases because again there will be a huge wave on the blockchain.. And I think the massive adoption of NFT has someway, somehow contributes to the price hike. We just hope ETH 2.0 have it resolved. I used to transact USDT on the ethereum blockchain but now I am transacting on the tron blockchain as much as possible unless the site doesn't accept TRC-20. Even bitrefill has started to accept USDT on the tron blockchain so everyone knows the problem.
The problem of high Ethereum gas fees is not new, I who have been in the crypto world for a long time often experience it. And I believe the Ethereum
team knows this, that's why ETH 2.0 was created to solve the problem of high gas fees. As you said many tokens are created using the Ethereum
network, this is what ends up being a lot of transactions on the Ethereum network, and make gas fees increase. But if we are a little patient, slowly
the gas fees will go down by themselves. But if we do make transactions frequently, there's no harm in considering using another network.
Jump to: