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    Vitalik Buterin: 'Really acceptable' Ethereum L2 fees should be under 5 cents

    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.

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    SourceBenzinga

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