Layer 2 transaction fees in Ethereum ETH/USDhas to be under 5 cents to be "really acceptable," the co-founder of the Cryptocurrency Vitalik Buterin .
What happened: The Ethereum creator commented Tuesday in a tweet from the host of the Bankless podcast Ryan Sean Adams who argues why Ethereum "is not expensive".
Adams shared a screenshot of the average transaction fees on the Ethereum Layer 2 platform, highlighting how inexpensive it is to use these scaling solutions.
"It has to fall below $0.05 to be really acceptable," Buterin said. "But we're definitely making a lot of progress."
Meanwhile, the average transfer for token exchanges in the Layer 1 chain remains on the higher side. At the time of writing, the token swap gas fee on the Uniswap UNI / USDwas $15.38.
Price Action: According to data from Bensing Pro , ETH was trading at $2,790, down from 1,39% in 24 hours.