The Higher The Price Of Ethereum, The Higher The Gas Fee.
Isn't it a little weird or should I say funny? All my life and during my economic classes back then in school. I have always known one simple and major law in economic and that is The Law Of Demand and Supply which states that The higher the price of a commodity, the lower the quantity demanded and vice versa Looking at that in this aspect of the gas fee, why isn't it so? lol, just my thought lol.
I know if we want to apply the law of demand and supply as per the purchase of Ethereum then the quantity demanded is low but in terms of gas fees in our private wallets, it's the exact opposite not minding the kind or type of coins you are making transactions with. Imagine having a token worth $10 and then paying a gas fee of about $15. I mean how is that even possible? and even if you had $20 or $25, you will still run at loss. We are more than excited at the way most coins and tokens are rising but then, what happens now that it has a great effect on our transactions? So many of us here may not have a problem with that but what happens to the rest that has? Why isn't it *The higher the price of Ethereum, the lower the gas fee? lol.
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