The ETH blockchain is a crazy place to play now. So I initiated a transaction about 6 hours ago, the transaction took 6 hours before it finally got confirmation on the Ethereum blockchain network, I nearly did the cancel/replace option. First and foremost, I did my checks on ethgasstation and etherscan.io/gastracker before initiating the whole transaction and realised the "cheapest" gas fees was 98 Gwei. So to be on the safer side, I decided to use 100 Gwei (~$24) yet look at the stress I've been through all day. ETH blockchain is messed up now. What happened to ETH 2.0?.
Imagine if the transaction had failed after 24 hrs, I would have no choice but to cancel/replace the pending transaction with a higher gas fees. Clearly, with a failed transaction, ~ $60 worth of ETH would just go waste🗑
Stop using ethereum network for making small transactions. If you aren't making transactions worth thousands of dollars, then it's not worth using at all. Those DEX fees are also awful right now. You have to pay like $250 in fee if you are trying to swap $100 worth of tokens. Why would anyone even do that? Wait for the Eth 2.0 upgrade, at least the phase 1 where I believe the sharding will be implemented and see if things improve or not.