Bobos & Wojaks

Get rich or die tryin

3 Reasons Why High Gas Fees Are Bullish For ETH

  1. High gas fees means the network is congested and it’s being used (it has a high demand) which is obviously a good sign. The gas fees on other L1s are low because they’re not being used as much as ETH is and they’re obviously more centralized.

  2. People are willing to pay high gas fees for Ethereum’s security. People use other L1s mostly because they’re cheap (low gas fees) but they wouldn’t use them if they had high gas fees. People are willing to use Ethereum even though it has high gas fees.

  3. This just proves that the ‘big money’ will always be on ETH. Look at the top NFT sales; they’re all on Ethereum and the other networks are not even close. Whales didn’t flock to other L1s when gas fees skyrocketed and they probably never will because whales don’t care about gas fees, they only care about the security of the network.