Gas Fee fo Ethereum reached 12 Months High

Ethereum is a leading blockchain network as thousands of projects run on this blockchain and if we talk about it from the coin perspective then also it is the second rank coin as per the market cap. Since the day I am in the crypto market, I have always seen ETH as the second-rank coin in terms of market cap ranking and I don't think it is going to change real soon. There has been an upgrade last month on the chain and search updates are carried out to make the network more effective and scalable to deal with the increasing volume of data. The current market situation is not so good but despite the fact, there is a significant amount of adoption in blockchain technology which is why it is imperative for the projects to keep on upgrading to include some of the necessary features that make the chain more effective and scalable.

While Ethereum is popular because of its adoption, there is one more aspect that we cannot ignore and it is the transaction fee which is also known as a gas fee. There was a time when the transaction fee was too high and sometimes it was even more than $100 because of it people started avoiding the ethereum network as not everyone is OK to pay such a high amount for just the transaction fee. The network was criticized a lot because of these and the founder tried to make it more cost-effective but seems things are still not up to the mark as expected. Now again the ethereum gas has raised its 12-month high price and probably the effect could be because of the PEPE.

Such has been the pepecoin frenzy that leading Ethereum-based decentralized exchange Uniswap's pepecoin-wrapped ether (PEPE-WETH) liquidity pools recently became the most active liquidity pool by the number of transactions.

The transaction fee is one of the parts on the chain that I believe should be reasonable because no one likes to pay a higher amount just for making a transaction and to be honest it does not really make any sense. I like the way binance is a smart chain that works where the transaction fee is too low and we can not ignore Hive as the best solution here. We have no transaction fee on hive so we never need to worry about it and we can transact as much as we want. This is something that makes HIVE a great platform and we should make more people aware of this.

In the past, the transaction fee on the ethereum blockchain has been one of the hot discussions because people criticized it a lot. The chain is better and the earlier effect was because of DEFI and now since there are more DeFi projects on BSC or polygon so there is a reduction in the fee. I wonder if more project comes on ethereum then we might see the same situation again. I rarely do transactions on ethereum the DeFi I have chosen is on BSC and it charges too which I am not worried about. There are so many users on Binance Smart Network but I have never seen the surge so its manageable and I dont understand why Ethereum is not adopting it. I am not sure if there are any technological challenges but as a user, I would prefer a platform that is not just better and more popular but cost-effective too.

Thank you