In these days ETH gas fee will down to 5$ per transaction why this happen?
Also the Layer 2 projects expand and get more mature which effects the duty for the original chain as well
Topic: Why is Ethereum fees going down in this days? - page 4. (Read 496 times)
Also the Layer 2 projects expand and get more mature which effects the duty for the original chain as well
The rise and fall of gas costs is common in blockchain networks.
But the decline in the price of the Ethereum blockchain this time could be because people have rarely used the Ethereum blockchain so far they have moved to the BSC network and others.
Maybe in the past many people used the Ethereum blockchain so the transaction fees were so high that people would think twice about sending their tokens.
But the decline in the price of the Ethereum blockchain this time could be because people have rarely used the Ethereum blockchain so far they have moved to the BSC network and others.
Maybe in the past many people used the Ethereum blockchain so the transaction fees were so high that people would think twice about sending their tokens.
In my opinion, the ups and downs of gas fees depend on the number of transactions on the ETH blockchain network. In this case maybe the hype for the crypto project on the ETH network has started to fade and caused a decrease in transactions on the ETH network and made gas fees gradually decrease.
In these days ETH gas fee will down to 5$ per transaction why this happen?
Users are slowly moving to the another blockchain and this is making so many users that were usually putting the fast or priority transactions have been moving to the another blockchain. This is also decreasing the daily average transaction fees. That makes sense if the fees of ethereum is going down a lot. This time etherscan can't be accessed but im sure that once it can be accessed and then you will able to see how many transactions processed by the blockchain. I think that if blockchain will be processed less transactions. This is also happening with ethereum but not for the first time.
Back in the 2020 this thing was also happening due to the low demand for ethereum blockchain and the transaction fees was so cheap.
In these days ETH gas fee will down to 5$ per transaction why this happen?
Bear market makes it!In bull market, Ethereum price rises and even only Ethereum price, it will do affect intensity of transactions on Ethereum network that will affect transaction fees. Worse, Ethereum is a backbone for many altcoin projects that build their platforms, networks, dapps on ERC20 chain. In bull market, people are greed and easily to bet with games, gambling, investment etc. that together make intensity of transaction becomes much higher than usual.
Consequently transaction fee rises dramatically in bull market and falls a lot to almost normal level in bear market.
In these days ETH gas fee will down to 5$ per transaction why this happen?
Why does your account was created just to create another topic? all your posts from the account creations are THREAD STARTER and the thing is? you never come back to post another word from your Own thread instead let it being spammed? are you the one creating a thread for your own alts?but regarding to the question? it is the congestion that made this fees lowering these days.
and when the price starts to Bull again then expect much higher fees soon .
In these days ETH gas fee will down to 5$ per transaction why this happen?
Users are slowly moving to the another blockchain and this is making so many users that were usually putting the fast or priority transactions have been moving to the another blockchain. This is also decreasing the daily average transaction fees. That makes sense if the fees of ethereum is going down a lot. This time etherscan can't be accessed but im sure that once it can be accessed and then you will able to see how many transactions processed by the blockchain. I think that if blockchain will be processed less transactions. This is also happening with ethereum but not for the first time.
Back in the 2020 this thing was also happening due to the low demand for ethereum blockchain and the transaction fees was so cheap.
In these days ETH gas fee will down to 5$ per transaction why this happen?
Everything is based on transaction congested, meaning that now transactions on the ethereum network are not as crowded as a few months earlier or in 2021 where market conditions are bullish so that many transactions occur, or could be because ETH competitors are starting to be used a lot, so ETH is starting to be unused, but it's not impossible that eventually these competitors also experience the same thing, high network fees because of the congested on transactions network. There are possible factors and reasons why the Ethereum gas fee was lowered these days.
So the fees on Ethereum vary on the network congestion which means many projects jump into the network that has the lowest transactions fees.
- NTFs and Defi didn't get hype this year which makes Ethereum network congestions
- We have now a few Ethereum killers like Solana, BNB, and Cardano which alter to Ethereum
So the fees on Ethereum vary on the network congestion which means many projects jump into the network that has the lowest transactions fees.
I am more on your last reasoning here. The popularity of new networks like BSC, SOL, ADA and let us include MATIC, FTM are decongesting the ETH network. A lot of traders and developers are now utilizing these alternative networks for cheaper fees, which is very understandable particularly for small traders. You can't afford to pay $5-20 gas fees for very small amount of trade. This is why a lot are abandoning their ETH tokens for now or switching it to other available networks.
There are possible factors and reasons why the Ethereum gas fee was lowered these days.
So the fees on Ethereum vary on the network congestion which means many projects jump into the network that has the lowest transactions fees.
- NTFs and Defi didn't get hype this year which makes Ethereum network congestions
- We have now a few Ethereum killers like Solana, BNB, and Cardano which alter to Ethereum
So the fees on Ethereum vary on the network congestion which means many projects jump into the network that has the lowest transactions fees.
Behind the traffic of network, sometimes also there is correlation with the price of Ethereum to the Ethereum gas fee,
let's say for example we are in a bear market or most of the price actions of Ethereum are downwards or most of the time it is dumping, I notice that the transaction fees (gas fee) is also decreasing.
let's say for example we are in a bear market or most of the price actions of Ethereum are downwards or most of the time it is dumping, I notice that the transaction fees (gas fee) is also decreasing.
It's just a simple logic, if there are no massive trades then the network is most likely free to flow .
It means you can easily send and receive without the hassle of waiting because the network is clogged with lots of transactions.
So it actually depends on the network condition and since there's no panic yet so the market condition in a good flow.
It means you can easily send and receive without the hassle of waiting because the network is clogged with lots of transactions.
So it actually depends on the network condition and since there's no panic yet so the market condition in a good flow.
In these days ETH gas fee will down to 5$ per transaction why this happen?
Current fees as of this moment based on GweiRapid
34 GWei
$1.79 | 15 Seconds
Fast
26 GWei
$1.38 | 1 Minute
Standard
15 GWei
$0.80 | 3 Minutes
Slow
10 GWei
$0.53 | > 10 Minutes
https://etherchain.org/tools/gasnow
Fees would vary on network condition and if its busy then expect for fees to rise up as usual.
It simply means that the network's clog is becoming gone.
Right this morning I saw that it was around 17 gwei and as of typing this, it gone up again to 67 gwei. It's still quite high but at least it's not the same as before.
When gwei has reached from 100 to 200.
Right this morning I saw that it was around 17 gwei and as of typing this, it gone up again to 67 gwei. It's still quite high but at least it's not the same as before.
When gwei has reached from 100 to 200.
In these days ETH gas fee will down to 5$ per transaction why this happen?
seriously? I think this one can help you mate if you want to know how much Gas fees nowadays when it comes ethereum network. And perhaps you spend $5 for gas fee because the amount of your transaction is low because that's how the fee will base. And to be honest with you i don't see any changes, wherein still the same and not going down. 
The decline in the cost of ethereum gas is a very good thing and the moment that ethereum holders have been waiting for, but now is not the right time for gas reductions because holders are reluctant to make transactions because the price of eth is dropping rapidly, I think the cause of the decline gas eth because the volume of transactions against eth has decreased drastically so the current ethereum network is not as busy as before,
In these days ETH gas fee will down to 5$ per transaction why this happen?
Transaction fee depends on the volume of transaction and how busy the network is. Meaning the Ethereum network right now not too much busy that’s why miners can easily process all pending transactions.
You can check Ethereum Network stats here: https://ethstats.net/
In these days ETH gas fee will down to 5$ per transaction why this happen?
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