Post
Topic
Board Altcoin Discussion
Re: Not news but no wonder why ethereum transactions fees are high
by
jrrsparkles
on 12/03/2021, 05:21:39 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
As long as the user who set the bot to trade is making some profits, he won't mind that but when the market turns out to mess and start losing the number of trades may fall, so wait until the price fall or make use if the high price by paying the appropriate fee for your transaction.