##Out of Control ETH Fees Return to All-Time High

 

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The average Ethereum transactions now costs over $13

Critics say this undermines the usability of blockchains

ETH proponents point out solutions and promise upgrades in ETH 2.0

With the rise of the decentralized web came a rise in Ethereum traffic. September 1, 2020, broke a new record with the average transaction cost topping $13.

Reports of long wait times and astronomical Uniswap fees are pushing the crypto community to its breaking point.

Cheaper to Hire Fedex Than Use ETH

Saving on gas left some users waiting 12 hours or more for their transactions to go through. In the fast-paced world of Uniswap and speculation, that’s a long time.

Some Reddit users have pointed out that high ETH fees contradict the purpose of fast, trustless transactions. With wait times like these, some have argued, it would be faster and cheaper to send a check with overnight shipping.

One reddit user posted a ghastly screenshot on the r/Nexo subreddit. This image shows a transaction of 504 Nexo (NEXO) tokens (about $80 at the time) with a fee of 184 Nexo tokens (about $30) at the time.

Reddit user Ed_Atts offered an explanation. With the high price of ETH and liquidity pool arbitrage opportunities,