High ETH Fees are Bullish for Ethereum – Crypto Analyst
Users of Ethereum who wish to capitalize on the DeFi boom brought about by yield farming, are constantly met with high ETH fees as other users also aim to capitalize on the same incentives provided by these platforms. Additionally, those sending routine Ethereum transactions have to pay high ETH fees brought about by the congestion caused by DeFi and the related ERc20 stablecoin transactions.
At the time of writing this, the Ethereum network has a current gas fee of $0.40 which is still high when compared to other networks such as Tron (TRX) or even Nano (NANO). It is with such incidences of high gas fees that developers are working on ways of implementing EIP 1559 that gives Ethereum users the choice of selecting the fee they want to pay to expedite their transaction.
