Topic: Why is Ethereum fees going down in this days? (Read 478 times)
I think the reason for the downfall gas eth in light of the fact that the volume of exchanges against eth has diminished definitely so this Ethereum organization. Meaning the Ethereum network right now not an excess of occupied that is the reason excavators can without much of a stretch cycle every forthcoming exchange.
exactly decreasing number of using ERC-20 was one of the reasons why ETH gas fees going down these days well aside from the fact that it is the main concern of many of us it is also one of the reasons why other blockchains and bridges were trying to resolve, to give the crypto user a low gas fee which will not go to cost them an $8-$14 or more just for transaction fee. I think we shouldn't worry about why ETH gas fees going down because personally this is what I am looking for because there are other transactions that I have no choice but to deal with the high gas fee of ERC-20.
Decreasing number of tokens? or maybe decreasing number of eth transactions? anyone can create an erc20 tokens but not all are going to use it, that is why I don't think the number of tokens has an impact on the fees. No one is worrying about the present case but they are only curious on why it is happening. If there is one thing that people are worried about, that is if the fees soar high again but the logic behind the fees are simple. All just needs a common sense to figured that out. Fees of eth might have drop dramatically but for me it is still expensive, sorry eth I won't still use it even though I have a token that I want to sell.
As a Lover of the Ethereum platform I hope Vitalik can stabilize Transaction Fees like the BSC or Tron Platforms. Small players in the Crypto world expect this to happen this year.
honestly if vitalik could solve the current eth fee mess he would’ve solved it since ages ago but reality is different, solving this fee mess isnt as easy as making some additional implementation and updates in the platform instead it also requires other things that could further complicate things like consensus, etc. even the current ETH 2.0 proposal is such a massive disappointment that it does nothing against the current fee. instead they rebrand ETH 2.0 as something else, this goes to show that their former proposal was rather ineffective in terms of practicality but that’s of course just my 2 cent as someone that doesn’t have such wide knowledge in regard of blockchain, after all there could be solution for the fee but just doesn’t get any chance of implementation yet.I think the reason for the decay gas eth on the grounds that the volume of exchanges against eth has diminished radically so the current Ethereum network isn't so occupied as in the past. Meaning the Ethereum network right now not an excess of occupied that is the reason diggers can undoubtedly handle every forthcoming exchange.
the simplest explanation? the ETH network nowadays are not congested and why? maybe because users are using ETH network now lessen compared on what we have in the last year specially in 1st and 2nd quarter of 2021 when Ethereum fee is almost the same of Bitcoin transaction fee.and also this is something good for ethereum users, though i stopped using Ethereum since last year instead i only has ETH for long term .
It's true, the ETH Gas Fee is often unstable. Sometimes when the transaction is solid, the ETH Gas Fee is quite high. As a bounty hunter, we have to look at the moment when gas is cheap to transact because it will save costs (maybe only $5 for one transaction). As a Lover of the Ethereum platform I hope Vitalik can stabilize Transaction Fees like the BSC or Tron Platforms. Small players in the Crypto world expect this to happen this year.
I did experienced paying 18 dollars fee sending only small amount but i have no choice because i need ETH.It really doesn't look too bad, it is under 3 dollars right now, and the swaps that we had to do (approve and all" did dropped to 20-30 dollars instead of being 100+ dollars which was insane. However it is still nowhere close to what it should be. It is certainly something that we need to work on for sure.
dropping fees does not bring bad at any chance mate instead this is what we are all looking for and having 3 dollars as fee? this is still High mate trust me.Yes, exactly decreasing number of using ERC-20 was one of the reasons why ETH gas fees going down these days well aside from the fact that it is the main concern of many of us it is also one of the reasons why other blockchains and bridges were trying to resolve, to give the crypto user a low gas fee which will not go to cost them an $8-$14 or more just for transaction fee. I think we shouldn't worry about why ETH gas fees going down because personally this is what I am looking for because there are other transactions that I have no choice but to deal with the high gas fee of ERC-20.
I think the reason for the decay gas eth on the grounds that the volume of exchanges against eth has diminished radically so the current Ethereum network isn't so occupied as in the past. Meaning the Ethereum network right now not an excess of occupied that is the reason diggers can undoubtedly handle every forthcoming exchange.
the simplest explanation? the ETH network nowadays are not congested and why? maybe because users are using ETH network now lessen compared on what we have in the last year specially in 1st and 2nd quarter of 2021 when Ethereum fee is almost the same of Bitcoin transaction fee.and also this is something good for ethereum users, though i stopped using Ethereum since last year instead i only has ETH for long term .
It's true, the ETH Gas Fee is often unstable. Sometimes when the transaction is solid, the ETH Gas Fee is quite high. As a bounty hunter, we have to look at the moment when gas is cheap to transact because it will save costs (maybe only $5 for one transaction). As a Lover of the Ethereum platform I hope Vitalik can stabilize Transaction Fees like the BSC or Tron Platforms. Small players in the Crypto world expect this to happen this year.
I did experienced paying 18 dollars fee sending only small amount but i have no choice because i need ETH.It really doesn't look too bad, it is under 3 dollars right now, and the swaps that we had to do (approve and all" did dropped to 20-30 dollars instead of being 100+ dollars which was insane. However it is still nowhere close to what it should be. It is certainly something that we need to work on for sure.
dropping fees does not bring bad at any chance mate instead this is what we are all looking for and having 3 dollars as fee? this is still High mate trust me. 
It really doesn't look too bad, it is under 3 dollars right now, and the swaps that we had to do (approve and all" did dropped to 20-30 dollars instead of being 100+ dollars which was insane. However it is still nowhere close to what it should be. It is certainly something that we need to work on for sure.
It is clear to me that we have to work hard towards building something better for ethereum and that could only happen if we could drop the swap parts as well. I get that transactions under 3 dollars is as good as we could hope for, if it could drop under 1 dollar that would be even better but I can understand the 3 dollars levels as well. But the fact that it still costs 20+ dollars to just approve something is too high.
Gone are the days where erc20 based transaction fees are too low but as the time it had been adopted and recognized then fees did become tremendously high which is really sadIt is clear to me that we have to work hard towards building something better for ethereum and that could only happen if we could drop the swap parts as well. I get that transactions under 3 dollars is as good as we could hope for, if it could drop under 1 dollar that would be even better but I can understand the 3 dollars levels as well. But the fact that it still costs 20+ dollars to just approve something is too high.
which is comparable to Bitcoin that it might have some huge fees for sometime but it do eventually gets low when the network isnt congested unlike on ETH which
it do stays up high for a while now and it do seldom have some low congestion but it goes back up high.Dont know on how they would resolved such problem.
It really doesn't look too bad, it is under 3 dollars right now, and the swaps that we had to do (approve and all" did dropped to 20-30 dollars instead of being 100+ dollars which was insane. However it is still nowhere close to what it should be. It is certainly something that we need to work on for sure.
It is clear to me that we have to work hard towards building something better for ethereum and that could only happen if we could drop the swap parts as well. I get that transactions under 3 dollars is as good as we could hope for, if it could drop under 1 dollar that would be even better but I can understand the 3 dollars levels as well. But the fact that it still costs 20+ dollars to just approve something is too high.
It is clear to me that we have to work hard towards building something better for ethereum and that could only happen if we could drop the swap parts as well. I get that transactions under 3 dollars is as good as we could hope for, if it could drop under 1 dollar that would be even better but I can understand the 3 dollars levels as well. But the fact that it still costs 20+ dollars to just approve something is too high.
This is what we expect on the ethereum network, if the cost of gas has decreased again then later there will be many investors who return to use the network, this decrease may decrease trading volume so that transactions that occur are not too high so that they reduce gas costs at this time, if later transaction costs will be as before then this will reduce interest in the BSC network, and polygon which is currently very popular, and this is already their rival.
Isn't it the other way around ? because when Gas transaction fees decrease on the Ethereum network, the number of transactions on the Ethereum network will increase because there are still people who don't make transactions when Gas fees are still very expensive so they are forced to postpone the transactions they want to do. 
It's true, the ETH Gas Fee is often unstable. Sometimes when the transaction is solid, the ETH Gas Fee is quite high. As a bounty hunter, we have to look at the moment when gas is cheap to transact because it will save costs (maybe only $5 for one transaction). As a Lover of the Ethereum platform I hope Vitalik can stabilize Transaction Fees like the BSC or Tron Platforms. Small players in the Crypto world expect this to happen this year.
This is what we expect on the ethereum network, if the cost of gas has decreased again then later there will be many investors who return to use the network, this decrease may decrease trading volume so that transactions that occur are not too high so that they reduce gas costs at this time, if later transaction costs will be as before then this will reduce interest in the BSC network, and polygon which is currently very popular, and this is already their rival.
There's nothing to do with the exchange volumes but just as said by xalolex, it's about the erc20 tokens demand. Well, we can say that there's something to do with the exchanges because it's being traded there and most people are sending their erc20 tokens into exchanges to trade it.
But in actuality, it's just all about the production of many erc20 tokens and the demand that they're having which is making the network clogged which is turning the fee to be higher than before.
The ERC20 token demand is certainly the "main" reason why it keeps going up, or when the times comes it goes down. However, that doesn't mean that it is the only reason, of course exchanges and many other things causes it to go up or down as well, this is a multi-function coin and there are many ways that you could use it.But in actuality, it's just all about the production of many erc20 tokens and the demand that they're having which is making the network clogged which is turning the fee to be higher than before.
You could use it to pay for gas fee on your ERC20 tokens, you could use it to stake, you could use it to just buy and hold, you could trade it, you could buy NFT with it and many other things.
This means that there are many reasons but you are 100% right that the biggest reason is that people use ETH for paying gas fee, and during bull runs like we are having right now, the gas fee goes up; which means there are more transactions are happening on ethereum network for some reasons.
Before the highest was like 200 gwei and now, as of typing this, the gwei is just around 22. And that's a good progress IMO and we're so close to the going down of the fee.
There's nothing to do with the exchange volumes but just as said by xalolex, it's about the erc20 tokens demand. Well, we can say that there's something to do with the exchanges because it's being traded there and most people are sending their erc20 tokens into exchanges to trade it.
But in actuality, it's just all about the production of many erc20 tokens and the demand that they're having which is making the network clogged which is turning the fee to be higher than before.
The ERC20 token demand is certainly the "main" reason why it keeps going up, or when the times comes it goes down. However, that doesn't mean that it is the only reason, of course exchanges and many other things causes it to go up or down as well, this is a multi-function coin and there are many ways that you could use it.But in actuality, it's just all about the production of many erc20 tokens and the demand that they're having which is making the network clogged which is turning the fee to be higher than before.
You could use it to pay for gas fee on your ERC20 tokens, you could use it to stake, you could use it to just buy and hold, you could trade it, you could buy NFT with it and many other things.
This means that there are many reasons but you are 100% right that the biggest reason is that people use ETH for paying gas fee, and during bull runs like we are having right now, the gas fee goes up; which means there are more transactions are happening on ethereum network for some reasons.
In these days ETH gas fee will down to 5$ per transaction why this happen?
ETH transaction fees change from time to time, it's a natural thing.however, reducing the cost of ETH gas is something that many users have been waiting for, but it has not happened until now and I even hope that the cost of ETH gas can be stable like other networks that determine stable gas does not change like current ETH gas.
network traffice at this moment still calm down , and there is no hype in Defi project that attract ethereum transactio. mostly now common transaction which is didnt make network stuck. its like a cycle which is continuesly repeated, so someday we will see high transaction fee again while hype project occur on ethereum platform.
Judging by the latest data, activity is now observed in the BSC blockchain, and the ETH blockchain is in second place. The gap is almost 2 times, so the commissions are in a moderate zone. Let's see what distribution by transactions will be in the next month, because by all indicators we are going to see the growth of the crypto market.
I think the reason for the decay gas eth in light of the fact that the volume of exchanges against eth has diminished definitely. Meaning the Ethereum network right now not an excess of occupied that is the reason excavators can without much of a stretch interaction every forthcoming exchange.
There's nothing to do with the exchange volumes but just as said by xalolex, it's about the erc20 tokens demand. Well, we can say that there's something to do with the exchanges because it's being traded there and most people are sending their erc20 tokens into exchanges to trade it.But in actuality, it's just all about the production of many erc20 tokens and the demand that they're having which is making the network clogged which is turning the fee to be higher than before.
and this i see it on matemask and other wallets when gas costs are minimized then what happens is that our transaction fails or is delayed
It's still changing from time to time, lucky if you see gwei hits 1-10 and that's the time that you should start transacting. But if not, you do your thing and proceed if you're fine with those little amounts that it will project to you before you do the transaction.
Once again it is such a huge amount. I believe that the increase in the prices of course triggered it. That usually means that the price going up, equals to more people profiting and that equals more people taking out profit as well. When people take out their profit, that results with them spending more and more since it's out of their profit and not out of their pockets. That could be the reason why we are seeing as high as 30+ dollars all over again.
This is another proof that layer 2 solutions, or even BSC is a good alternative right now. People will move their money to those alternate solutions for the short period, and hope that ETH eventually figures out a way.
This is another proof that layer 2 solutions, or even BSC is a good alternative right now. People will move their money to those alternate solutions for the short period, and hope that ETH eventually figures out a way.
I think the reason for the decay gas eth in light of the fact that the volume of exchanges against eth has diminished definitely. Meaning the Ethereum network right now not an excess of occupied that is the reason excavators can without much of a stretch interaction every forthcoming exchange.
There's nothing to do with the exchange volumes but just as said by xalolex, it's about the erc20 tokens demand. Well, we can say that there's something to do with the exchanges because it's being traded there and most people are sending their erc20 tokens into exchanges to trade it.But in actuality, it's just all about the production of many erc20 tokens and the demand that they're having which is making the network clogged which is turning the fee to be higher than before.
and this i see it on matemask and other wallets when gas costs are minimized then what happens is that our transaction fails or is delayed
I think the reason for the decay gas eth in light of the fact that the volume of exchanges against eth has diminished definitely. Meaning the Ethereum network right now not an excess of occupied that is the reason excavators can without much of a stretch interaction every forthcoming exchange.
There's nothing to do with the exchange volumes but just as said by xalolex, it's about the erc20 tokens demand. Well, we can say that there's something to do with the exchanges because it's being traded there and most people are sending their erc20 tokens into exchanges to trade it.But in actuality, it's just all about the production of many erc20 tokens and the demand that they're having which is making the network clogged which is turning the fee to be higher than before.
I think the reason for the decay gas eth in light of the fact that the volume of exchanges against eth has diminished definitely. Meaning the Ethereum network right now not an excess of occupied that is the reason excavators can without much of a stretch interaction every forthcoming exchange.
I'm not sure that the volume of ETH had much effect on the cost of gas. The main catalysts for commission growth have always been Ethereum blockchain tokens. In 2020 it was DeFi tokens, and in 2021 it was NFT tokens. It is the transactions involving tokens that are the main reason for the rise in the cost of gas. Even though there is an Ethereum exodus on exchanges, if a token hype appears now, the price of gas will be high again.
I think the reason for the decay gas eth in light of the fact that the volume of exchanges against eth has diminished definitely. Meaning the Ethereum network right now not an excess of occupied that is the reason excavators can without much of a stretch interaction every forthcoming exchange.
I'm not sure that the volume of ETH had much effect on the cost of gas. The main catalysts for commission growth have always been Ethereum blockchain tokens. In 2020 it was DeFi tokens, and in 2021 it was NFT tokens. It is the transactions involving tokens that are the main reason for the rise in the cost of gas. Even though there is an Ethereum exodus on exchanges, if a token hype appears now, the price of gas will be high again.
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