Crypto Does Crypto Price Has Any Effect On Its Transaction Fees?

[Good-Guy]

There awas a time when it was very easy to send and recieve payments through Bitcoins. However, now we think a lots of time before making Bitcoin payments because of the fact that the transaction fees of Bitcoin is just too high. I have noticed that the transaction fees of Bitcoin rose once its actual value rose. The similar thing happened to Ethereum some time ago. Ethereum had very low gas fees, but just like Bitcoin, its transaction fees rose when its actual price increased. The price of bitcoin Cash did not rise much and its transaction fees is also low. The only coin I know of is Litecoin whose transaction fees did not rise much even after an increase in value. Does Crypto Price Really Has Any Effect On Its Transaction Fees?

 

[sincerem]

Remember, the more the value goes up the higher the gas fee especially when the marketcap is very high, that's when the gas fee of the coin will be high too. Not necessarily the price of the con. I've seen some coins that are very high in price, but low in gas fee due to their marketcap falling low due to low in-demand of the coin.

 

[Sherman198]

Remember, the more the value goes up the higher the gas fee especially when the marketcap is very high, that's when the gas fee of the coin will be high too. Not necessarily the price of the con. I've seen some coins that are very high in price, but low in gas fee due to their marketcap falling low due to low in-demand of the coin.

I think you are right with some crypto currencies following that trend.....I think Bitcoin and Ethereum are following this trend, when the market is huge you would notice that there has fee are really higher compare to when the market is completely stable. I think people are trading more with other cryptos with low gas fees.