On October 29, 2021, the second-largest crypto asset in terms of market valuation, ethereum, reached an all-time price high at $4,467 per unit.
The two leading crypto assets by market valuation have had issues with high transfer fees for many years now but this month, Ethereum’s network fees are significantly higher than bitcoin’s.
The same web portal tracking ethereum gas fees notes that to move some ether, it’ll cost around 0.012 ETH or $50.53 per transaction.
Moving ethereum with a second-layer mechanism like Arbitrum or Polygon Hermez is much cheaper to use than onchain ETH transfers on the main network.
Loopring’s swap tokens cost is $1.07, Optimism’s fee to swap tokens is $5.54, and Arbitrum fees to swap tokens can cost $7.29 according to today’s metrics hosted on l2fees.info.
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