As of 3/13/21 Ethereum transaction fees are still quite high. For example, to move a small amount like $50 dollars, you would spend some $44.48. And some have reported even higher fees that would make you shake your head, even your corgi would shake its head in dismay.
This fee-gate acts to keep millions of people out of hundreds of cryptocurrencies. Perhaps they're like me with small amounts to play around with.
Personally, I can't wait to trade DUCK, DODO, FTM, INJ... my watchlist contains so, so very many I can't get my hands on just yet. The volumes rock, the prices rock, but I can't rock.
So it doesn't take much of an imagination to foresee the gold rush to come when more people are easily able to come by .01 cent crypto currencies akin to Dogecoin.
In all likelihood, we may see Ethereum become even more valued (10x) as a result of its fee problem being resolved.
How will it look? I've already heard of workarounds but they act as a deterrent as well -- more registrations, more wallets, more gates until you can actually swap or convert Ethereum cryptocurrencies and tokens. And they have their own fees. The solution, I'm hoping and hoping, is reduced fees as a result of some new rules for miners or the result of ETH 2.0's debut.
Either way, Ethereum by itself is largely undervalued and I'm quite surprised it is trading so starkly low being bundled next to Bitcoin.
PS: If you have found a way to participate without watching those gas prices like a hawk, please share in the comments below.