Ethereum fees are outrageously high. I have investments in DeFi protocols but it is just not worth it. I have left those investments untouched for months because if I were to do any operation it would cost me all the profit I have made and more.
The gas prices have been steadily over 50 Gwei ever since August. It is now hovering around 100 Gwei!
At over 100 Gwei, it means that a simple Ethereum transaction, with no ERC20 or smart contract, would cost over $8.
Managing DeFi then would cost at least double digits!
I have yields to claim from protocols and I need to claim and restake some of what I have earned, but if I do that I would have to spend more than what I have earned.
It seems I will have to just wait and lose on opportunities. The only hope after the EIP-1559 is for ETH2.0 to have cheaper transaction costs after it switches from PoW to PoW and sharding.
But who knows when it will happen? It has already been delayed a great deal....
I am sticking with Hive DeFi. I can get yields from staking Hive and HBD. I just wish for the DeFi space over here on Hive to get healthier and more mature.