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❕NEWS Ethereum Transaction Fees Are SO High Due To Increase In Price

NoLimits15

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Ethreum's price has been on an upward spiral lately and the price is currently at about $1000. This rise in price has lead to an increase in demand and this means transaction fees would also increase rapidly. Transaction fees are up by almost 400% since the beginning of January and many users are complaining that they cannot afford such high transaction fees. The transaction fees are also called gas fees and they rise whenever there is a lot of activity on the network.
 

Brain

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I always love the news of increase in the price of coins like the rise of almost all the coins now but the issue is always the transaction or gas fees it always too high
 

GoldenLady

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It's the same with Bitcoin. It surprising how Ethereum is moving so fast after showing little growth the last few months.

What could be the reason for this?
 

sagefave

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Is there no way for there to be a fixed cost for transaction fees. This is the only discouraging factor in trading cryptocurrencies, as the gas fees could eat up into the profit or even lead to a loss.
 

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Ethereum's gas fees was on the high side because of all the activities on the network previously and I can imagine how high it would have gone now considering its rise in price.
 

Rollerkid

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Ethreum's price has been on an upward spiral lately and the price is currently at about $1000. This rise in price has lead to an increase in demand and this means transaction fees would also increase rapidly. Transaction fees are up by almost 400% since the beginning of January and many users are complaining that they cannot afford such high transaction fees. The transaction fees are also called gas fees and they rise whenever there is a lot of activity on the network.
Many people now doesn't want to transact with ethereum due to its high gas fees but I think it's normal. I have heard people complaining that only the gas fees does cost them over $4 when transacting and this can lead to loses for those transacting small amount.
 

hominchen

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Ethreum's price has been on an upward spiral lately and the price is currently at about $1000. This rise in price has lead to an increase in demand and this means transaction fees would also increase rapidly. Transaction fees are up by almost 400% since the beginning of January and many users are complaining that they cannot afford such high transaction fees. The transaction fees are also called gas fees and they rise whenever there is a lot of activity on the network.

400% up in gas fee is massive ! I think Ethereum need to lower it to a sustainable figure to keep investment rolling. Fee is vital for any coin's investment.
 

westmania

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It is likely to happen. With price and demand gas fee needs to stay higher. Thats how a blockchain network is designed. Transaction fee or gas fee depends on many aspects.
 

achawaskey

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All you need to do is if the prise is too high do to activities on the network, you either shun the coin and trade with other once or buy when there are less activities.
 

hominchen

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Calculation is simple if you can afford go for presale opportunities or transfer Ethereum or any other purpose. If you are too choosy you may wait till fee turns down but I doubt it may be a worst decision cause fee may rise more and more...
 

Rollerkid

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It is likely to happen. With price and demand gas fee needs to stay higher. Thats how a blockchain network is designed. Transaction fee or gas fee depends on many aspects.
I know is normal for every blockchain to have high gas fees as transactions on the blockchain are increased, but friend, ethereum own sometimes is always too high. Last year I was trying to send just five dollars in ethereum but gas fees came around six dollars so I just have to cancel the transaction and wait and finally I did it for two dollars.
 

westmania

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I know is normal for every blockchain to have high gas fees as transactions on the blockchain are increased, but friend, ethereum own sometimes is always too high. Last year I was trying to send just five dollars in ethereum but gas fees came around six dollars so I just have to cancel the transaction and wait and finally I did it for two dollars.

That is ridiculous if fee is more than total amount need to be sent ! I am really surprised why this so huge amount. It should be reasonable to 15% of what we need to send or max 25% sometimes tjat also not desirable.
 

MRizwan530

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Ethreum's price has been on an upward spiral lately and the price is currently at about $1000. This rise in price has lead to an increase in demand and this means transaction fees would also increase rapidly. Transaction fees are up by almost 400% since the beginning of January and many users are complaining that they cannot afford such high transaction fees. The transaction fees are also called gas fees and they rise whenever there is a lot of activity on the network.
It has become a horrible situation because many private key wallets are taking transaction fee in the form of ethereum and ethereum price has been gone to 1
000 plus dollar so people are facing difficulty in transactions.
 

Rollerkid

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That is ridiculous if fee is more than total amount need to be sent ! I am really surprised why this so huge amount. It should be reasonable to 15% of what we need to send or max 25% sometimes tjat also not desirable.
Yeah, that was so strange and I have to cancel the transaction as at then. But maybe it was due to network connection as at the time I was placing the transaction. When I tried back some few months after the first transaction, the fee l finally paid was like 30% and have to confirm it even though it seems higher too.
 

Shahid14

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Ethreum's price has been on an upward spiral lately and the price is currently at about $1000. This rise in price has lead to an increase in demand and this means transaction fees would also increase rapidly. Transaction fees are up by almost 400% since the beginning of January and many users are complaining that they cannot afford such high transaction fees. The transaction fees are also called gas fees and they rise whenever there is a lot of activity on the network.
It is absolutely coming to see that since the value of the eth has rise the transaction fee of all the coins has also increased and their fees are also very high here in the in trust wallet as well.
 

Niftyicon

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Yeah, that was so strange and I have to cancel the transaction as at then. But maybe it was due to network connection as at the time I was placing the transaction. When I tried back some few months after the first transaction, the fee l finally paid was like 30% and have to confirm it even though it seems higher too.
I once had thesame experience that made me conclude that timing is very important. I needed to send ETH from one wallet to another and the fees was like 85% of the amount and after waiting for an hour, the fees just dropped to about 10%.
 

Wisdom01

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The transaction fee is so high despite launching the the second version v2. , i just hope there could be a solution to that transaction fee which is too high i think , well let's see how it goes
 

Rollerkid

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I once had thesame experience that made me conclude that timing is very important. I needed to send ETH from one wallet to another and the fees was like 85% of the amount and after waiting for an hour, the fees just dropped to about 10%.
Ethereum transactions come with very high fees and I always see this to be the major problem with the coin. To me ethereum might lose investors because this high gas fee.
 

Niftyicon

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Ethereum transactions come with very high fees and I always see this to be the major problem with the coin. To me ethereum might lose investors because this high gas fee.
Yeah! I have come across people who refused to carry out ETH transactions and they are just waiting to see maybe changes to the high gas fees would come soon.
 

Rollerkid

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Yeah! I have come across people who refused to carry out ETH transactions and they are just waiting to see maybe changes to the high gas fees would come soon.
Yeah, l just hope the etherum blockchain team do something about their gas fee because many investors are not comfortable at all. But when the gas fees is worked on, it might take the steps of bitcoin very soon.
 
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