Topic: Why is Ethereum fees going down in this days? (Read 512 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.
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.
Yes, I've also done some exchanges using Metamask for the ETH Network, and as a result, Ethereum fees are very affordable. In my opinion, Ethereum transaction fees are dropping due to the scaling of the network, and the transition to proof of ownership. People can't move ETH because blockchain is congested and slow and it's a down market so fewer people will trade.
The reasons you stated may be true, but for some people it is still not cheap even though compared to last year's transaction fees on the ETH network are still much more expensive and now it looks more affordable, but if ETH itself does not move quick to fix this, then expensive transaction fees will occur again on the ETH network. I haven't used Etherum Network in a long time and it can also be said that i have found an alternative to transfer a token at very lower price and so faster transaction. Gas Fee is depends on the load of the transaction in a network which is can be ETH or others network. Now gas price is 37 (0.13$) to fast transfer although i think you can't transfer a token such lowest fees.
so which coin are you using now as you said had stopped using ethereum long ago? why not share to us so we can at least look at it and may change our direction using ethereum as well.because though the gas fee now drops really low but the opportunity of increasing is also there when the congestion happens again.
so better to have many option as we are constantly using network after network for our transaction and faster result.
Yes, I've also done some exchanges using Metamask for the ETH Network, and as a result, Ethereum fees are very affordable. In my opinion, Ethereum transaction fees are dropping due to the scaling of the network, and the transition to proof of ownership. People can't move ETH because blockchain is congested and slow and it's a down market so fewer people will trade.
I haven't used Etherum Network in a long time and it can also be said that i have found an alternative to transfer a token at very lower price and so faster transaction. Gas Fee is depends on the load of the transaction in a network which is can be ETH or others network. Now gas price is 37 (0.13$) to fast transfer although i think you can't transfer a token such lowest fees.
Bear market may have a lots to do with decreasing gas fee! NFT is another gas gusler! Trading NFT has reduced in volume and people are out of the market as cryptocurrency circle kicks in. I hope etherum will have scaled to accommodate bigger transactions volume as cryptocurrency becomes popular and attract more users!
I think the current decline in ethereum gas costs is due to reduced activity on the use of the ethereum network so that the system is not crowded and there is no congestion, which makes the transaction costs decrease, maybe this is due to the declining crypto market so ethereum users delay and are reluctant to transact for a while, but I'm sure if the ethereum network users get crowded again then the gas costs will go back up again.
I am agree with you that the using of this network is decrease in recent days so that's why we have seen that lower gas fees .The transaction would be the second reason which become less that's the pressure of the network get sown and we have seen the lower gas fees .Its true that eth is the most popular chain and if the using of the network become increased the fee will be increased on this network again .So not the reason to become happy much to see the lower fees it may be increased anytime .I think the eth team should work on this to reduce the fees more and it will be more popular to the investor . 
at that time Gwei was between 15-25 . Eth gas fee depends upon total transaction. when transactions are low then as a result the fee is also low. I remember the Gwei was come down to 12 Gwei. this usually happens in a bear market.
at this time market is bullish and Gwei is 70, you can check the USDT transfer fee is 25$.
In terms of the current size, the transaction gas fee on the ETH network is still considered large because it is measured in one transaction so it is inconceivable when someone makes a transaction up to ten times.at this time market is bullish and Gwei is 70, you can check the USDT transfer fee is 25$.
So in general, the ETH transaction gas fee is still unstable because the Gwei amount also changes frequently.
For Bep20 and Polygon, I think they are always stable even though there is an influence through the base price of the BNB and Matic coins, but always in accordance with the existing dose.
it’s all coming back with the platform itself, could they scale well or they just gonna become overcrowded and eventually leading the gas required increases significantly and sees if they could withstand the trends like NFT that could flooding the platform with so many NFT and NFT games transactions.
In these days ETH gas fee will down to 5$ per transaction why this happen?
at that time Gwei was between 15-25 . Eth gas fee depends upon total transaction. when transactions are low then as a result the fee is also low. I remember the Gwei was come down to 12 Gwei. this usually happens in a bear market.at this time market is bullish and Gwei is 70, you can check the USDT transfer fee is 25$.
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I think the problem with higher commissions disappeared for a while because the hype for different tokens that interact with the ETH blockchain subsided a little bit. But if the hype around some tokens starts again now, the problem will easily repeat itself, over and over again.
maybe now this is the era of feeless or cheap transaction fee in any network. ethereum dev team have high concern with their traffic and also fee so hopefull fee cycle would not happen anymore.I think the problem with higher commissions disappeared for a while because the hype for different tokens that interact with the ETH blockchain subsided a little bit. But if the hype around some tokens starts again now, the problem will easily repeat itself, over and over again.
This era will not be permanent. Trends and tendency will change and we will see huge gas fees again. This is the downside of bullrun, it happens in bitcoin, it happens in ETH, simply because these blockchains are the most popular and prone to transaction spam, which fills mempules and as a consequence fees go up. High gas price is a long time problem of ethereum blockchain and developers still haven't managed to get rid of it completely. If now suddenly a new hype is born for some new tokens, you will immediately see commissions skyrocket.
Of course, reducing the price of Ethereum gas is a very good thing, but I think that Ethereum gas prices often shift, either down or high because every time Ethereum gas costs are different.
this is very common, sometimes Ethereum gas costs go down sometimes also go up.
if Ethereum gas costs stabilize and continue to fall I think a lot of people will reuse the Ethereum network and leave BSC.
Ethereum's current drawback is simply the exorbitant price of Ethereum's gas fees.
this is very common, sometimes Ethereum gas costs go down sometimes also go up.
if Ethereum gas costs stabilize and continue to fall I think a lot of people will reuse the Ethereum network and leave BSC.
Ethereum's current drawback is simply the exorbitant price of Ethereum's gas fees.
but cheap ethereum gwei gas don't always last just a few days and the high cost always lasts a long time. bep20, polygon now has information on gwei gas that ethereum is implemented, I hope other networks are not so expensive with ethereum networks. this could be bad for me
Gas fees on the Ethereum network are not always stable at low numbers so they are still changing very often, especially since the price of Ethereum itself never stays at one price.For Bep20 and Polygon, I think they are always stable even though there is an influence through the base price of the BNB and Matic coins, but always in accordance with the existing dose.
Unfortunately, it is a self-increasing problem. Meaning that if it goes down, more people see it, and more people invest into it and more people start to spend more on gas fee and it increases all over again. I am not saying that it has to happen, just that it has been what happens so far in the past and I can see it happening again this time around as well.
Hopefully, it doesn't happen but I believe that the same thing could happen during this period as well. This is why I believe that 1-5 doesn't matter, it will always go back to 10-20 but then eventually it will go back to 5-1 levels and then it will go up and that is why it will never be stable.
The cycle could be broken by finding a solution that could solve a bit more size. That means it will be low, but it grows a lot then it would either be slower, or at least cheaper and bulk together. This way we are talking about cheaper even when a lot of people come here, and there won't be a need to leave.Hopefully, it doesn't happen but I believe that the same thing could happen during this period as well. This is why I believe that 1-5 doesn't matter, it will always go back to 10-20 but then eventually it will go back to 5-1 levels and then it will go up and that is why it will never be stable.
However, in that situation people are spending less ETH on fee's, which would make it harder for people to buy more ETH, since there won't be much need for that. And I do not think that there is good enough reason for people to buy more in that case. Staking would fix that too, by making sure people buy and hold and stake it, which would keep the selling numbers to a record low hopefully.
but cheap ethereum gwei gas don't always last just a few days and the high cost always lasts a long time. bep20, polygon now has information on gwei gas that ethereum is implemented, I hope other networks are not so expensive with ethereum networks. this could be bad for me
other chain actully want to solve ethereum problem , they want network traffic that handled be bigger and also have cheap network.if they dont solve this main problem better to forget their existances in this market, cause they didnt solve anyting.~
I think the problem with higher commissions disappeared for a while because the hype for different tokens that interact with the ETH blockchain subsided a little bit. But if the hype around some tokens starts again now, the problem will easily repeat itself, over and over again.
maybe now this is the era of feeless or cheap transaction fee in any network. ethereum dev team have high concern with their traffic and also fee so hopefull fee cycle would not happen anymore. I think the problem with higher commissions disappeared for a while because the hype for different tokens that interact with the ETH blockchain subsided a little bit. But if the hype around some tokens starts again now, the problem will easily repeat itself, over and over again.
In these days ETH gas fee will down to 5$ per transaction why this happen?
There was even $1 at a time, but not for long. Obviously, the ETH network has been heavily spoiled by third-party directions in the ecosystem, such as DeFi or NFT. If you think back to what transaction prices were in the summer of 2021, it's clear that it was because of NFT trading on OpenSea. Look at OpenSea trading volumes now, their volume has dropped dramatically, hence the load on the Ethereum blockchain has dropped, as has the price of gas. There is a pattern to all of this.
Hopefully, it doesn't happen but I believe that the same thing could happen during this period as well. This is why I believe that 1-5 doesn't matter, it will always go back to 10-20 but then eventually it will go back to 5-1 levels and then it will go up and that is why it will never be stable.
Maybe switching to PoS will solve this problem to some extent. Commissions in the ETH network have long been an acute problem, they are very expensive, especially if you take the interaction with smart contracts as an example. It's just a rip-off, hundreds of dollars per transaction, that's a lot.
I think the problem with higher commissions disappeared for a while because the hype for different tokens that interact with the ETH blockchain subsided a little bit. But if the hype around some tokens starts again now, the problem will easily repeat itself, over and over again.
but cheap ethereum gwei gas don't always last just a few days and the high cost always lasts a long time. bep20, polygon now has information on gwei gas that ethereum is implemented, I hope other networks are not so expensive with ethereum networks. this could be bad for me
I think the reason for the downfall gas eth in light of the fact that the volume of exchanges against eth has diminished radically so the current Ethereum network isn't quite as occupied as in the past. Ethereum change on the organization blockage which implies many ventures hop into the organization that has the most minimal exchanges expenses. I imagine that if blockchain will be handled less exchanges. This is likewise occurring with Ethereum yet not interestingly.
In these days ETH gas fee will down to 5$ per transaction why this happen?
There was even $1 at a time, but not for long. Obviously, the ETH network has been heavily spoiled by third-party directions in the ecosystem, such as DeFi or NFT. If you think back to what transaction prices were in the summer of 2021, it's clear that it was because of NFT trading on OpenSea. Look at OpenSea trading volumes now, their volume has dropped dramatically, hence the load on the Ethereum blockchain has dropped, as has the price of gas. There is a pattern to all of this.
Hopefully, it doesn't happen but I believe that the same thing could happen during this period as well. This is why I believe that 1-5 doesn't matter, it will always go back to 10-20 but then eventually it will go back to 5-1 levels and then it will go up and that is why it will never be stable.
I think the current decline in ethereum gas costs is due to reduced activity on the use of the ethereum network so that the system is not crowded and there is no congestion, which makes the transaction costs decrease, maybe this is due to the declining crypto market so ethereum users delay and are reluctant to transact for a while, but I'm sure if the ethereum network users get crowded again then the gas costs will go back up again.
and there may also be obstacles that make the current ethereum network possible to have reduced ethereum gas costs, and there are several sides that are good news for ethereum holders. but this decrease in ethereum gas costs could be because the network may be very busy at the moment.and in the past to my knowledge ethereum has also decreased and even then not for long, and is getting better.
I think the current decline in ethereum gas costs is due to reduced activity on the use of the ethereum network so that the system is not crowded and there is no congestion, which makes the transaction costs decrease, maybe this is due to the declining crypto market so ethereum users delay and are reluctant to transact for a while, but I'm sure if the ethereum network users get crowded again then the gas costs will go back up again.
In these days ETH gas fee will down to 5$ per transaction why this happen?
There was even $1 at a time, but not for long. Obviously, the ETH network has been heavily spoiled by third-party directions in the ecosystem, such as DeFi or NFT. If you think back to what transaction prices were in the summer of 2021, it's clear that it was because of NFT trading on OpenSea. Look at OpenSea trading volumes now, their volume has dropped dramatically, hence the load on the Ethereum blockchain has dropped, as has the price of gas. There is a pattern to all of this.
Ethereum fees keep going down as a result of less usage of eth based assets and most likely people are using other blockchains like polygon, tron, binance chain which present the user with the benefit of low transaction fees as compared to ethereum itself.
If usage remains the same and fees go down then its likely that a new fork was implemented.
If usage remains the same and fees go down then its likely that a new fork was implemented.
The cost of ethereum gas is down at this time maybe because the trading volume is declining so that because currently all coins are in decline and this will increase again if later all coin prices also experience growth, but what we hope later costs will remain at the lowest price so that we are again comfortable in making transactions, although currently many other networks have been present but the ethereum network can still be relied on.
That's true because the Ethereum network is also much more convenient to use if the Gas transaction fees are cheap and I'm sure there are still many people who like the Ethereum network if the transaction fees can be very cheap this year.So let's look forward to what breakthroughs Ethereum will take this year to stabilize transaction Gas fees.
I think the current decline in the cost of ethereum gas is due to the massive reduction in adoption of this network, resulting in the empty space of the ethereum system, I think this is only temporary because the crypto market is currently declining so activity on every network decreased dramatically,
That is the reason why the gas fee was high as well, a lot of people using it. Since, a lot of people used it, the gas fee was high and now that a lot less people are using it, the gas fee is low, that is how it is done. I personally believe that when you do it properly then ETH would be a great place to use, like when there is a new fork or a new improvement then it could be great if the gas fee is low even when a lot of people are using it.However, when there are lot of people using it, the gas fee goes up, so that is why people leave. There are so many other networks right now that people could use and make money, I believe that they could provide more for the people who use them.
We should be more glad about this news, because it becomes cheaper and I hope that it continues until it goes back to a more cheaper fees.
We all don't want expensive transactions and a slower network, this has been the problem with ETH network and hoping that their updates will address this problem. I don't know the current situation of that update but at least, its good to see lower fees though compare to other network it is still expensive.
That is clear because if the cost on the ETH network can be cheaper even though it is not as cheap as other networks, I think it will really help ETH also in some ways such as the number of users who will be more and more and can have an effect on the price of ETH itself in the market.We all don't want expensive transactions and a slower network, this has been the problem with ETH network and hoping that their updates will address this problem. I don't know the current situation of that update but at least, its good to see lower fees though compare to other network it is still expensive.
So it's good that the fees on the ETH network can be easily resolved to be cheap.
In these days ETH gas fee will down to 5$ per transaction why this happen?
We should be more glad about this news, because it becomes cheaper and I hope that it continues until it goes back to a more cheaper fees.We all don't want expensive transactions and a slower network, this has been the problem with ETH network and hoping that their updates will address this problem. I don't know the current situation of that update but at least, its good to see lower fees though compare to other network it is still expensive.
maybe this is also owed to decongestion of eth network because other competitor networks with cheaper fees. though we don't know what's the real deal about their eth 2.0 update, but good to know that they are slowly going down their fees. but the fees using uni and opensea are still high, check in their gas tracker site . but if you are dealing with large amount of money, $25-30 is no big deal especially if you are selling thousands worth in opensea.
In these days ETH gas fee will down to 5$ per transaction why this happen?
We should be more glad about this news, because it becomes cheaper and I hope that it continues until it goes back to a more cheaper fees.We all don't want expensive transactions and a slower network, this has been the problem with ETH network and hoping that their updates will address this problem. I don't know the current situation of that update but at least, its good to see lower fees though compare to other network it is still expensive.
basically every member here agrees that the rising and falling costs of ethereum gas are caused by the many and few transactions that occur on the ethereum blockchain and also the decline in the price of ethereum so that it becomes $ 5 and if it rises it might return to 10 $ because of the large number of transactions
Less transaction with high fees in the network. This is also making the transaction fees that used by the blockchain goes down as well. This is an old thing that will always happen when people are feeling bored with ethereum and they are moving to the another blockchain. The fees is increasing again right now and it's relatively high caused by it was going back again to the two digit fees.
Seeing the gas fees of ethereum is so cheap like this time rarely happened with this blockchain.
Seeing the gas fees of ethereum is so cheap like this time rarely happened with this blockchain.
Eth fees are high and bsc was then introduced to work as a solution. It was effective, people experience to transact again with cheap transaction fees but not in the side of eth. For such a long time we are using bsc, the eth fees are still the same but maybe not anymore because of what the op experience. A drop of 5 dollar in fee is a good and a big thing already.
I just hope this stays and more drops will happen as the day passes by. In no time, people are going to go back on eth again and of course me too as I still have unfinished business in eth. I have lots of erc20 tokens to sell but the high gas fees prevents me from doing it. It sucks though.
I believe that when there is a huge gas fee in ETH, people move to other chains, then when they move, the gas fee drops, when it drops more people move back to ETH and it rises again. This is the cycle, we just keep having people use ETH, run away from ETH and then go back to ETH and keep doing this for the longest time.I just hope this stays and more drops will happen as the day passes by. In no time, people are going to go back on eth again and of course me too as I still have unfinished business in eth. I have lots of erc20 tokens to sell but the high gas fees prevents me from doing it. It sucks though.
I do not think that it could change at any given time. I mean it could change in the long run, but that doesn't mean that it will happen any time soon. What we need to see is a change in whole ETH structure, they tried many forks and many different things and they hoped that some of them would work but in the end none of them did.
I think the current decline in the cost of ethereum gas is due to the massive reduction in adoption of this network, resulting in the empty space of the ethereum system, I think this is only temporary because the crypto market is currently declining so activity on every network decreased dramatically,
Currently the fee is quite low. I see gwei here, and I think it's a pretty good change for ethereum.
however, this does not prove that ethereum fees are really low. Well, the current decline in fee prices could only be temporary, because when transactions start to solidify again, fee prices can increase at any time. However, $2 or $5 of the fee is still quite expensive, but once the ethereum fee has stayed in that range, I think people's complaints will be less. I also see that the current gastrackerfee has decreased quite a bit. it's better than paying $20 or more for 1x transaction. maybe for people who want to make transactions on ERC20, now can be a good opportunity.
however, this does not prove that ethereum fees are really low. Well, the current decline in fee prices could only be temporary, because when transactions start to solidify again, fee prices can increase at any time. However, $2 or $5 of the fee is still quite expensive, but once the ethereum fee has stayed in that range, I think people's complaints will be less. I also see that the current gastrackerfee has decreased quite a bit. it's better than paying $20 or more for 1x transaction. maybe for people who want to make transactions on ERC20, now can be a good opportunity.
funny enough it’s not only ETH price that are volatile but its gas fee is also volatile, sometimes it could become surprisingly inexpensive and the other day it would become ridiculous that is being frowned by the masses
but of course this kind of phenomenon occurs frequently and if the ETH gas fee has become relatively low that means it’s the right time for anyone that are waiting for this moment because usually in the next weeks, the fee gonna be climbing again
and becomes ridiculous again, it’s the same ETH’s gas cycle, currently there is rarely any market movement but once there is any market movements occurring the fee rates will suddenly go high again.
And that's happening right now. Bitcoin is recovering and then the gas is also increasing. How funny ethereum blockchain is
but of course this kind of phenomenon occurs frequently and if the ETH gas fee has become relatively low that means it’s the right time for anyone that are waiting for this moment because usually in the next weeks, the fee gonna be climbing again
and becomes ridiculous again, it’s the same ETH’s gas cycle, currently there is rarely any market movement but once there is any market movements occurring the fee rates will suddenly go high again.
And that's happening right now. Bitcoin is recovering and then the gas is also increasing. How funny ethereum blockchain is
Mainly that is because there are too many people who said enough is enough and that is why price is falling. It is all made in the markets and the reality is that we are in a situation where people realized a while ago that they could just use other chains. The more chains they end up using, the more spread out it became.
This meant that we are not really seeing ETH being the only one, and with so many competitions for it, that meant people started to use other places. Obviously it is not going to last forever and people will be back on ETH eventually when there is something great there that everyone wants to participate. However, until that time, we will be low like this.
This meant that we are not really seeing ETH being the only one, and with so many competitions for it, that meant people started to use other places. Obviously it is not going to last forever and people will be back on ETH eventually when there is something great there that everyone wants to participate. However, until that time, we will be low like this.
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.
Eth fees are high and bsc was then introduced to work as a solution. It was effective, people experience to transact again with cheap transaction fees but not in the side of eth. For such a long time we are using bsc, the eth fees are still the same but maybe not anymore because of what the op experience. A drop of 5 dollar in fee is a good and a big thing already.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.
I just hope this stays and more drops will happen as the day passes by. In no time, people are going to go back on eth again and of course me too as I still have unfinished business in eth. I have lots of erc20 tokens to sell but the high gas fees prevents me from doing it. It sucks though.
In these days ETH gas fee will down to 5$ per transaction why this happen?
I think it is because the Ethereum network volume of transactions was declined and normalized again, and that's the reason why we barely see the transaction fees are going down sometimes, but not all the time because there's a particular period of the day that it was still high and it's very uncomfortable for ordinary users but in general its a temporary relief for all Ethereum and erc20 token users so I hope it will continue to stabilize.
Bitcoin and Ethereum have really low gas or transaction fees when everyone is panicking and thinking the world will end for crypto. Someone shared in Bitcoin discussions huge outflows of BTC from exchanges too.
No demand, low utility, means low network transactions. Fees therefore no need to be so high.
What the heck,,, Your second paragraph makes sense but your beginning is totally like you just made up something, like you use a robot to make stuff up like some kind of automated content thing
No demand, low utility, means low network transactions. Fees therefore no need to be so high.
Before we start the day, we do morning exercises to release the Caffeine we take in. Could it be gas that blows up an airplane? Just as humans and airplanes need fuel, so does the Ethereum (ETH) blockchain. The energy source for this particular digital resource is called Ethereum Gas.
This price variability is related to the fact that the countries are active and passive at the relevant hours.
This price variability is related to the fact that the countries are active and passive at the relevant hours.
What the heck,,, Your second paragraph makes sense but your beginning is totally like you just made up something, like you use a robot to make stuff up like some kind of automated content thing
In these days ETH gas fee will down to 5$ per transaction why this happen?
Eth 2.0 testnet is live and i think it can be cause for low gas fee. Transaction volume is also low and fee depend upon total transactions.Yesterday i shocked when i checked fee and it was 11 gwei. K think its happen Long time Ago.
I think Eth 2.0 upgrade will work and fee will be reduced.
Before we start the day, we do morning exercises to release the Caffeine we take in. Could it be gas that blows up an airplane? Just as humans and airplanes need fuel, so does the Ethereum (ETH) blockchain. The energy source for this particular digital resource is called Ethereum Gas.
This price variability is related to the fact that the countries are active and passive at the relevant hours.
This price variability is related to the fact that the countries are active and passive at the relevant hours.
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
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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