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Gas Fees
Gas fees are high because there's a lot of demand for transactions right now. Supply is limited, so when demand goes up so does the price.
High ETH gas fees is one of the big hurdles, especially for the Artists and enthusiasts from South Asian Countries and African countries. College students, Young artists don’t even bother to get into NFT space when they get to know they have to spend their monthly spending deploying an art. And everyone is looking for a solution to deploy NFTs on Ethereum blockchain without it costing them so much.
No doubt that Solana NFTs and Binance Smart Chain NFTs are there but most of the traffic and volume is still on Ethereum.
Let’s look at some of the Bitcoin Talk forum conversations around the gas fees when it was barely a Dollar. Link
Last modified 2mo ago
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