Post
Topic
Board Altcoin Discussion
Re: Not news but no wonder why ethereum transactions fees are high
by
makishart
on 11/03/2021, 23:34:55 UTC
Check the kind of transaction arbitrage bots do
https://etherscan.io/tx/0xf6f3a3978e9edc386e0ec34bacc328db934efef6c8e27ab76f87672d7349c598

This transaction generated 332$ and spent 262$ to do so with an gas fee of 298gwei...

So for this guy to generate thousands of $ per day, he increases the gas fee of everyone to astronomical amount :-/
It's not the miner who fucks up the market, it's the arbitrage traders
It could be true but FYI if miners were making it even worst but oppose the solution to be implemented to fix this problem. The defi traders are always putting the recommended fees on their tx and they will be doing several tx and that means all of these txs will have used recommended fees and that will make the fees will be growing higher instantly.
Imagine when there are more than 1k people were doing defi transactions at the same time. That's why the ethereum fees is so high now and in addition there are some zero sum tx with high fees to spam the network too.