After Dencun upgrade Ethereum transaction fees is reduced around 90% across layer-2 chains such as Base, arbitrum and optimism but there is no big fee reduction on mainnet. There is just a little reduction in this case which still is not convincing to use Ethereum mainnet.
Well, i am already almost inactive on Ethereum mainnet due to higher transaction fees. I do use whenever its very necessary and there is no alternative option. For Example just today i did 3 to 4 transactions on mainnet to claim an airdrop that i recieved recently.
If you don't know let me tell you that i have got $MEME airdrop staked which i had to unstake manually in order to sell it. The $MEME is an erc20 coin that is why i had to use ethereum network. It cost me $30 plus to unstake and send to Binance. I had to take Ethereum withdraw first from binance which charged me $11 withdraw fees. To move $125 of $MEME it cost me $30 which seems a big cut and not cool.
I used to be a big fan of ethereum but the higher transaction fees caused to move my assets to other chains. Now my activity on ethereum is almost zero, just today i did transaction after a very long time. Well, lets hope the issue with the high fee gets resolved in the future. Then i can return to mainnet again.
On the other hand market is still red in the second day since bitcoin price dipped. It has dropped to lowest of $67k after hitting high of $70k for the day. Now Bitcoin is trading between $67k and $68k. As i mentioned in my previous post that it could drop further to as low as $62k. This could be the last big correction before making big green candle in journey towards $100k.
In response to the Bitcoin price drop altcoins are suffering too. Ethereum price is dropped below $3700 while BNB price is dropped below $600. Altcoins like Hive and Matic are also observing a drop in the prices.
Only Memecoins are pumping , an example of this is the latest memecoin named as "Book of Meme" $BOME which launched two days ago and has increased 36000%. This is ridiculous , the irony is that Binance has listed it today.
Binance these days is focused on supporting Memecoin instead of solid projects. This is not a good thing in my opinion. Memecoin trend is really hot these days because they can print big which is why people are greedy and rush towards memecoins.
Binance listed more Memecoins than solid projects in the last 30 days. Binance seems to be doing business only these days and not supporting the true and meaningful projects. Its the sad reality. Binance really needs to rethink about their choices. Only true builders deserve support and not some random shitcoins . It should Promote solid projects with a strong usecase.
Thats it for today. Thanks for reading. What do you think about my today's topic? Let me know your thoughts in comment section. In the end i would like to Wish you and your family a happy day ahead. Stay Blessed.
Motivation Dose
Get out of your comfort zone and fight the troubles and hurdles that come your way to success. Success awaits you. Life is beautiful ، live it to the fullest. Dont be hopeless. Stand strong in the ups and downs of life as its part of life. There is always a light behind every dark side.
About Author
@coolguy222 is a crypto trader and content creator on hive blockchain. He also runs a small business of Mobile accessories and Wrist watches. He loves to make new friends.
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