It's so difficult to make a single transactions now under Ethereum blockchain. A very high gas fees are killing small investors and traders. But miners would love to see gas fees going to the moon because they benefited from it. However, this is not good for Ethereum in the long run, their users/consumers are suffering but their miners are enjoying this high gas fees.
Also, Ethereum competitors will surely grab this high gas fees opportunity. It's not good.
When will the Ethereum gas fee go down? Anyone knows?
Also, Ethereum competitors will surely grab this high gas fees opportunity. It's not good.
When will the Ethereum gas fee go down? Anyone knows?
The people who hold their ETH right now are the ones winning this bull-run and those who have some altcoins that needed to be traded using the Ethereum Network, have suffered the sudden increase of the gas fee. I'm sorry to say that this kind of scenario will last long especially when the price of ETH is high and there are lots of people currently using the network for their activities. This is a lesson for us whenever we have some tokens in our wallet, we need to stack some ETH to be used for later transactions especially when the price is high like what we are experiencing now.
As you can see, this is not pleasing to watch:
Via: https://ethgasstation.info/