I know that Ethereum Transaction Fee has not been friendly with the users but today's fee cost was abnormal. The fee cost 31. 22 Eth. Which is equivalent to $112,700.
Confirm Must've been a mistake from the sender's part. Or maybe the sender's wallet miscalculated network fees. Right now, ETH's gas fees are low. But considering that transaction capacity is limited, such rates won't last for long. Developers are still working on making ETH more scalable. Meanwhile, chains like Solana and BSC continue to provide a better UX with much lower gas fees and faster confirmation times.
Regardless of how much the ETH network gets congested, fees will never be as high as Bitcoin when it's at its peak. That's because BTC has much higher market prices than ETH. Institutional investors continue to buy BTC more than ETH, so we don't have to worry about ETH getting clogged anytime soon.