Post
Topic
Board Altcoin Discussion
Re: When will the Ethereum Gas Fee go down?
by
redsun114
on 11/02/2021, 16:03:52 UTC
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.
In order to be able to pay a lot of fees, as much as 30-50 dollars and even more for the fees you need to be a whale, nobody with small amount of money will be neither capable of spending it nor would be willing to spend it this much. That is why I think it is obvious that we are in a whale situation where every one of them are here and they are increasing the price as well.

When whales are in, they have a lot more money than regular folks like me, which doesn't only make the fee's higher because they can pay it, that is just one part of it, this also increase the price of ethereum because they end up buying more ethereum as well, they have a lot of money so when they buy it goes up obviously. That is just what I am guessing at least because whales are evidently around.