#Ethereum fees in the past hour (24h MA): $898,000 USD – All Time High.
— glassnode (@glassnode) January 4, 2021
Gas cost for a swap right now on Uniswap: ~$47. (500 gwei, 100k gas, ETH $955). + 0.3% LP fee. Other L1 AMMs are even more gas-intensive and expensive.
Loopring L2 AMM: 0.25% fee. No gas.
Here I swap $5 of LRC into ETH. I pay $0.0125 fee.
Nobody is priced out on L2 ✊ pic.twitter.com/dZtHVYUgA7
— Matthew Finestone | 3body.eth (@finestonematt) January 3, 2021
What's worse is that these spikes are always the worst when you need to do something the most. Can't wait for this to move to L2, it's a disaster
— Larry Cermak 🟨 (@lawmaster) January 4, 2021