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On-chain transaction fees have once again become a hot topic in the past 24 hours. According to data, Hyperliquid's trading costs temporarily led, with edgeX and Tron following closely. What exactly is behind this surge in fees?
Sudden network congestion on-chain usually indicates two possibilities—either a spike in transaction volume or certain large operations (such as new project token launches, significant ecosystem upgrades, or bulk transfers) triggering network pressure. High traffic indeed can drive up the cost per transaction, impacting retail participants significantly.
From a market perspective, when on-chain fees remain high, Layer2 solutions and optimized transaction routing schemes tend to attract more attention. After all, effectively reducing transaction costs is itself a competitive advantage.
However, it should be noted that daily data can be distorted by large orders or sudden events and may not fully represent long-term trends. It is recommended to cross-verify with multiple data sources. High fees do not necessarily indicate strong project fundamentals; sometimes, they may reflect abnormal on-chain activity. Investment decisions should focus on the project's long-term development fundamentals rather than short-term fee fluctuations.
Hyperliquid fees are so high; could it be a big whale dumping orders again?
Layer2 should have been popular long ago. With gas fees like this, who would still play on-chain?
Don’t just look at the 24-hour data; it’s easy to be fooled by large trades.
Fee spikes ≠ project strength; you need to think this through.
I only care about when trading will be cheaper; right now, it’s a bit ridiculous.
Retail investors suffer the most, with transaction fees eating up half of their profits.
Hyperliquid is indeed causing some activity, but this kind of data really has little reference value; the trend could change tomorrow.
Layer2 really needs to step up, or on-chain transaction costs will eventually drive small investors crazy.
Single-day fee data trying to influence my investment decisions? Haha, it's still more reliable to look at the fundamentals.
Basically, it's just another wave of hype; once the trend passes, no one will care anymore.
Hyperliquid is really outrageous this time, I don't even dare to move my wallet
L2 is the way to go, Layer1 players are getting cut deeply
Daily data doesn't really show much, these media love to create hot topics
Retail investors are crushed by transaction fees, and they still have to look at the fundamentals haha
High fees don't necessarily mean a strong chain, it could just be trash projects hyping themselves
More users mean congestion, honestly it's just too competitive in the ecosystem
Focusing on fee data every day is pointless, better to pay attention to the real long-term track
Who’s still trading on-chain at this time? They’re fools, they’ve already moved to L2
Tron’s low fees have a reason, this time we need to reflect and think about it
Hyperliquid is so fierce, gotta see who's causing trouble behind the scenes.
Layer2 savior is online, but can it really save this time...
Retail investors are always the big losers; when fees go up, it's time to be served.
I just want to know who made a killing and who cried over losses in this wave.
Short-term fee fluctuations, I don't believe in them; anyway, it's just a harvest.
Tron got caught in the crossfire again, so sad.
L2 is the way out, otherwise retail investors will suffer heavy losses.
Can you trust the daily data? I believed it last time and ended up losing everything.
Well said, don't be fooled by high fees, looking at the fundamentals is more reliable.
Hyperliquid is performing again? I'll just watch silently.
There must be a big move behind this congestion, whatever you do, don't chase the high.
What is Hyperliquid trying to do this time? Being the number one in fees every day is quite outrageous.
Retail investors should stay cautious. Such data fluctuations are just market makers shaking out their positions; don't be fooled.
Focusing on fundamentals is the real way. People who get excited about high daily fees probably lost all their money long ago.
It's actually just someone dumping tokens or a certain ecosystem pulling liquidity, nothing unusual.
Could this be an opportunity to buy the dip? It still depends on how things develop next.
Don't be fooled by fee data; the key is who can truly solve the problem.