Ether rising price ,good or bad?

Will ether rising prices is good or bad for us when minting new tokens, will gas fees b more xpensive ?

https://www.google.com/amp/s/www.independent.co.uk/life-style/gadgets-and-tech/ethereum-price-latest-prediction-2021-b1839777.html%3Famp

5 Likes

Jesus I didn notice, I don’t honestly know if it is good for business

3 Likes

Good question, gas fees are skyrocketing though. Can’t afford to mint more work at the moment.

3 Likes

If u are a collector is really good ,not sure on the other side.:thinking:

2 Likes

Thats what im wondering , will go higher ?

Markets need regulations…
All coins go up, except mine :))

1 Like

Which coin are you talking about?

1 Like

Hi, hope you are having a great day! I think it’s a good thing, especially if you are a day trader with cryptocurrencies :blush: !

2 Likes

Hey there , yes lovely day hope u as well , agree if you work trading , whats your opinion on nft minting tokens fees?

Thank you, I am :blush: . I think the fees are expensive but they also have to compensate all the miners so with the demand rising, fees are more. Hopefully with ETH2 coming and what is said to come from it, this will fix that and balance it out.

1 Like

Qtum coin…

Here my NFTs

1 Like

I’m happy that at least I’m holding some ETH!
However new nft platforms will launch soon on the BSC Binance smart chain, and the price for listing will be way way cheaper. Platforms on the Eth blockchain will facing serious competition very soon.

3 Likes

I am sure that the rising gas prices are probably impeding our potential sales, especially newcomers like myself, but as @alphonse encouraged us to " Don’t let yourself down, keep it up!"

1 Like

From my experience, the rise in ETH has an opposite effect on gas price… I’m getting a lot of low gas… need that L2 and Sharding.

1 Like

I’m a crypto trader myself, I can say with decent confidence that the gas fee is not completely correlated with the ETH price, if not at all, one thing that does however, is the value of each of the NFTs that has been purchased before.
If you bought one piece at 0.1 ETH for example and it was $200, now you sell it again at the same price of 0.1 ETH but it is now $290 in value, you earn even if you don’t look like you earned by the surface.
On the opposite side, if you sold a work at 0.1 ETH then, and buy it back now, you would lose 90$ instead of gaining 90$

That does not necessarily mean that you will earn tho, as what could happen is that people drop prices to fit the USD price tag instead of the ETH price tag, and in the end, nothing has changed significantly unless ETH decides to double in value

2 Likes

That is a good question.

I would say NO, it is not good for the community NFT if it continues to rise like it is.
Currently $3,473 as I comment on this.

The rising prices will increase the cost of the Gas Fee, thus make it more expensive to mint more NFTs. Plus the heavy trading will cause more congestion on the block chain - which means higher cost of GAS.

The combine Higher cost of ETH and higher average GAS FEE means more money to mint and more money the buyer eats each time they purchase and NFT.

The plus side is ETH - if you are holding them as a savings - then great keep holding it will only get higher at this point in value.

I do not think the issue of higher value of ETH will change or the congestion which causes higher GAS Fees, until ETH v2 come out in 2 to 3 years. That is too say - if ETH gets to over $10,000 the congestion will most likely slow down, because it will cost too much for anyone to perform any block chain changes of significance. But that will also cause less volume in sales for NFTs in general.

So in summary - BAD for Sales and Minting, but good for investors of NFTs and ETH.

ETH v2:
When ETHv2 comes out and the block chain is ported over, then the GAS FEEs should be significantly be reduced. Then minting NFTs will be affordable for everyone again.

2 Likes