Why such high on tron chain too - page 2.

letyouearn

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Quote from: Little Mouse on November 12, 2021, 10:48:11 AM

I was moving USDT, haven’t done on chain tx for a while. I was surprised to see the fee for USDT transaction was 16+ TRX which is almost $1.80 and at least 2x from few months back. Why TRON fee is such high suddenly? Or it's regular fee for the last few months which I haven’t noticed.

Hm, maybe there are too many people who began using TRC20 USDT to send their money lately?

So, Ethereum blockchain got overdosed long ago and now TRON is getting filled up also?

smartaction

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Quote from: Little Mouse on November 12, 2021, 10:48:11 AM

I was moving USDT, haven’t done on chain tx for a while. I was surprised to see the fee for USDT transaction was 16+ TRX which is almost $1.80 and at least 2x from few months back. Why TRON fee is such high suddenly? Or it's regular fee for the last few months which I haven’t noticed.

TRX has increased their fees to about $ 2. Previously, there was no charge for withdrawing usdt from all exchanges on the TRC-20 platform. Withdrawals were free. But from Several days ago, the exchangers have also started deducting $ 1 fee for TRC-20. But now in the TRC20 blockchain they themselves charge $ 2 for a transaction. Then the withdrawal fee of the exchange will also be increased. then It will fuck us like Ethereum gas fee Sad

2double0

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When btc mempool gets stuck with transactions, fees get amplified and Tron's chain saw the same traffic coming its way when the movement of coins is also at its peak with prices, some wallets charged higher than normal fees for usdt where miners wanted to earn through this opportunity even through TRC20 network. High fees are going to hinder the success of cryptocurrencies and especially, crypto tokens which run on smart contracts of different blockchains.

Gozie51

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I think this is normal with coins generating traffic on there network. Someone said either because etheruem fee is higher so they may be trying Tron blockchain for transaction and this can be the reason as nobody has confirmed Tron is having any new development except the launchpad. But my thinking majorly is because people are choosing to run over to Tron. On the longrun this may push Tron price up.

TheGreatPython

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Quote from: Little Mouse on November 12, 2021, 10:48:11 AM

I was moving USDT, haven’t done on chain tx for a while. I was surprised to see the fee for USDT transaction was 16+ TRX which is almost $1.80 and at least 2x from few months back. Why TRON fee is such high suddenly? Or it's regular fee for the last few months which I haven’t noticed.

That is not a regular fee, because I’ve also made use of Tron in the past few months and they fee wasn’t as much as that. Most of these cryptocurrencies that come out with a very cheap transaction fees, and as time goes on when they start to grow after having lots of transactions being done on their blockchain, you will see their transaction fees increasing.

This is the same issue we had with Bitcoin and ethereum, and now this Tron is also about to do the same thing I guess? Well the market has been bullish all this while, maybe when things starts to come down a bit, the fees for transactions will also decrease.There’s usually increase in transaction fees when the price of the market is bullish. When it stops the market will also go back to normal.

Coin BTC

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Quote from: Little Mouse on November 12, 2021, 10:48:11 AM

I was moving USDT, haven’t done on chain tx for a while. I was surprised to see the fee for USDT transaction was 16+ TRX which is almost $1.80 and at least 2x from few months back. Why TRON fee is such high suddenly? Or it's regular fee for the last few months which I haven’t noticed.

Yes, this is actually what we discussed long ago regarding transaction fees. If we say the transaction fees of the Ethereum blockchain are higher, it is only due to the high price of Ethereum. Ethereum blockchain transactions require a fee of 0.002 to 0.005 ETH, I don't think much higher than that unless using a swap platform. But for every time we make a transaction using the Tron blockchain, we need to pay 16 Trx. If the price of Trx is $1, then the transaction fee of the Tron blockchain is $16. If the price of Trx is $10, of course this fee is much higher than all other blockchains.

n0ne

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Quote from: ryzaadit on November 12, 2021, 01:37:26 PM

IMO, any token on "TRX" has a different chain.

Example, for TRX itself on Binance or My Local Exchange only cost me 1 TRX for the fee transaction and for token TRX like USDT cost me 1 USD/TX. Some fee different and services like exchange sometimes take some profit from withdrawing activity it self. Sometimes, the fee transaction problem is because the exchange it self who want to take profit.

Yes, myself too made a transaction from an exchange to trust wallet. Only one TRX is taken as transaction fee. TRX hasn't pumped for a long. Maybe this is an updation or a kind of manipulation to push the market. If the market isn't gonna turn bullish then more projects could move to other chains. My transaction was made between AAX exchange and Trust Wallet.

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Quote from: Little Mouse on November 12, 2021, 10:48:11 AM

I was moving USDT, haven’t done on chain tx for a while. I was surprised to see the fee for USDT transaction was 16+ TRX which is almost $1.80 and at least 2x from few months back. Why TRON fee is such high suddenly? Or it's regular fee for the last few months which I haven’t noticed.

The USDT TRC20 withdrawal fee from the exchange is $1. Because the exchange takes a USDT based withdrawal fee from Tron. Whereas TrustWallet the withdrawal fee depends on the Tron network, as the fees are Tron coins. Lowest fees for making withdrawals on TronLink. In recent months, the USDT TRC20 withdrawal fee was 7 TRX.

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Quote from: Little Mouse on November 12, 2021, 10:48:11 AM

I was moving USDT, haven’t done on chain tx for a while. I was surprised to see the fee for USDT transaction was 16+ TRX which is almost $1.80 and at least 2x from few months back. Why TRON fee is such high suddenly? Or it's regular fee for the last few months which I haven’t noticed.

Recently I transferred USDT twice in tron chain. Each time the gas fee showed 16.5 TRX. But the fee for the first transaction is 8+ TRX and the fee for the second transaction is 4+ TRX. Only if you have 16+ TRX in your wallet then you can make transaction but the fee will be less than 50% of 16+ TRX.

ryzaadit

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IMO, any token on "TRX" has a different chain.

Example, for TRX itself on Binance or My Local Exchange only cost me 1 TRX for the fee transaction and for token TRX like USDT cost me 1 USD/TX. Some fee different and services like exchange sometimes take some profit from withdrawing activity it self. Sometimes, the fee transaction problem is because the exchange it self who want to take profit.

jrrsparkles

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Just the effect of ethereum network spike more people chooses Tron same like you so the price for transaction fee also is going to increase but I haven't used TRX for very long time so I didn't know the rise still its expected.

Bttzed03

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Where are you moving it from? I don't understand this blockchain that well but AFAIK, Tron allows zero fee for your first few transactions until you consume all the free bandwidth from freezing TRX. The same freezing also helps you avoid high smart contract tx fees.

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Quote from: Little Mouse on November 12, 2021, 10:48:11 AM

I was moving USDT, haven’t done on chain tx for a while. I was surprised to see the fee for USDT transaction was 16+ TRX which is almost $1.80 and at least 2x from few months back. Why TRON fee is such high suddenly? Or it's regular fee for the last few months which I haven’t noticed.

After you made this post I tried to find out directly on Trust Wallet, and I was surprised that the current cost is more than 16 Tron (TRX), I have also searched from various sources and did not find a single cause.

Out of curiosity I tried to withdraw USDT TRC20 on Binance and the fee is still the same, which is $1

I tried again to send Tron (TRX) from Trust Wallet and got no more than 16 Tron (TRX) fees, it seems this high fee is only charged to tokens running under the TRC20 network Roll Eyes

Little Mouse

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I was moving USDT, haven’t done on chain tx for a while. I was surprised to see the fee for USDT transaction was 16+ TRX which is almost $1.80 and at least 2x from few months back. Why TRON fee is such high suddenly? Or it's regular fee for the last few months which I haven’t noticed.

Topic: Why such high on tron chain too - page 2. (Read 338 times)