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[Josemendez]

According to blockchain.news , ethereum has reached an all time daily transaction volume of 1,406,016. This was made available by etherscan . It is recorded that the first highest all time was at 1.35million in 2018.

Could the UNI airdrop that took place between September 16 and September 17 be the cause of this ? ,What is your take on this ?

 

[Niftyicon]

This is actually not too surprising especially when you consider all the DeFi projects on the network. The airdrop might have contributed more.

 

[Josemendez]

This is actually not too surprising especially when you consider all the DeFi projects on the network. The airdrop might have contributed more.

Yeah . The Defi projects are part of the reasons and also the new Erc-20 tokens built under it contributes to this too . The only problem is the high gas fee with it

 

[ELSA-ELI]

Still watching closely the trends of this coin as it has really been on a gain and having alot of influence but still discouraging its wide usage more especially for minute holders.So for me despite its good ratings I would not put my money on it.

 

[Niftyicon]

Still watching closely the trends of this coin as it has really been on a gain and having alot of influence but still discouraging its wide usage more especially for minute holders.So for me despite its good ratings I would not put my money on it.

I think that is a good decision. For me, I am trying to pull my money out but the possible gains will end up as gas fees. So I am a little reluctant to go through with it.

 

[Brain]

This is actually not too surprising especially when you consider all the DeFi projects on the network. The airdrop might have contributed more.

Yeah this was much more expected. With all the activities going on now,this was imminent. The network is buzzing now.

 

[ELSA-ELI]

I think that is a good decision. For me, I am trying to pull my money out but the possible gains will end up as gas fees. So I am a little reluctant to go through with it.

If its a best time to buy a weaker coin then I it best to exchange the money.The thing is that crypto is supposed to offer the bet deals out there in terms of fees but that I not the case of Ethereum.

 

[Wisdom01]

It might have caused it but we shouldn't also forget that Ethereum transaction has been increasing days back but the airdrop adds to it

 

[mahdi304]

and the transaction fees have also dropped dramatically no idea when this happened but i just found out is there any particular reason this happened?

 

[Niftyicon]

and the transaction fees have also dropped dramatically no idea when this happened but i just found out is there any particular reason this happened?

Are you referring to Ethereum transaction fees? On what platform please? It is still as high as ever on the trust wallet as at a few minutes back.

 

[Josemendez]

I think that is a good decision. For me, I am trying to pull my money out but the possible gains will end up as gas fees. So I am a little reluctant to go through with it.

Why don't you exercise some patience , I read that there is plan to reduce this gas fee and the plans will be implemented before this year runs out

 

[Niftyicon]

Why don't you exercise some patience , I read that there is plan to reduce this gas fee and the plans will be implemented before this year runs out

I also saw that news I think on one of the threads here and will surely exercise patience. I just hope it comes to reality at the end.

 

[mahdi304]

Are you referring to Ethereum transaction fees? On what platform please? It is still as high as ever on the trust wallet as at a few minutes back.

yeah i use trust wallet as well the fees were down to around 30 gwei which isn't the worst now it's like 60 though but what i meant is it's down from the stupidly high 120 ish gwei which was just too much

Why don't you exercise some patience , I read that there is plan to reduce this gas fee and the plans will be implemented before this year runs out

and yeah i think they're switching from a proof of work coin to a proof of stake coin and also doing some other stuff which again reduces fees and also makes it so that many more transactions can be confirmed at a time

 

[Josemendez]

yeah i use trust wallet as well the fees were down to around 30 gwei which isn't the worst now it's like 60 though but what i meant is it's down from the stupidly high 120 ish gwei which was just too much

and yeah i think they're switching from a proof of work coin to a proof of stake coin and also doing some other stuff which again reduces fees and also makes it so that many more transactions can be confirmed at a time

Yeah . I believe they are doing so because of the many complaints of ethereum users and also for the fact that many projects are built on the ethereum network

 

[mahdi304]

Yeah . I believe they are doing so because of the many complaints of ethereum users and also for the fact that many projects are built on the ethereum network

but i don't think ethereum devs directly control fee prices do they? i mean ethereum 2.0 is a whole other story

 

[Josemendez]

but i don't think ethereum devs directly control fee prices do they? i mean ethereum 2.0 is a whole other story

I think the ethereum network have some role they play in the price of gas fee for ethereum transaction because they are the ones that fixes the gas fee base on wether the network is congested or Not

 

[mahdi304]

I think the ethereum network have some role they play in the price of gas fee for ethereum transaction because they are the ones that fixes the gas fee base on wether the network is congested or Not

oh i actually didn't know that i thought miners set their own prices or does it go both ways like both eth devs fixes gas prices and miners set their own prices as well?

 

[Josemendez]

oh i actually didn't know that i thought miners set their own prices or does it go both ways like both eth devs fixes gas prices and miners set their own prices as well?

The miners have little or no role in setting ethereum network . It is the blockchain that sets this and they in turn give some percentage to these miners . This is while the miners are not happy with the new plan to have a standard transaction fee

 

[mahdi304]

The miners have little or no role in setting ethereum network . It is the blockchain that sets this and they in turn give some percentage to these miners . This is while the miners are not happy with the new plan to have a standard transaction fee

oh sorry i just checked and miners can't actually set their own fee but they can set their own minimum fee

 

[Josemendez]

oh sorry i just checked and miners can't actually set their own fee but they can set their own minimum fee

I think that they only set what fee they want but not the transaction fee . The ethereum network uses their fee to set the final fee to be paid by the user