Why is the Gas price to send ETH so astronomically high nowadays. I've been reading threads here where people are complaining about high gas prices. Why the transaction cost is set so high? Wasnt ETH supposed to provide us with a faster and cheaper alternative than traditional banking?
The gas fee was discussed over a long, but still now the gas fee was not reduced. The reason behind this was the back transfer happened with the ethereum.So when the price of Ethereum had increased, the fee also increased automatically. So while transferring we need to spend some money as a fee. We can't escape from that, we can get that fee from the trading profit.