If you're sending a transaction in Phantom and noticing that the network fee (gas fee) is relatively high, there can be a few reasons:
- A spike in network activity
- A complex transaction
- High demand on the network
Note: Phantom doesn’t set network fees. These fees are determined by the blockchain network itself and fluctuate based on user activity and demand.
You can monitor current gas prices on sites like Etherscan Gas Tracker or Blocknative.
Spike in network activity
Network fees can increase during peak usage—such as popular NFT drops or major DeFi events—when many users are trying to transact at the same time. This higher demand drives up the gas price needed to get your transaction processed quickly.
Complex transactions
Simple transactions like sending ETH from one wallet to another usually require lower gas fees. In contrast, more complex actions—like swapping tokens on a decentralized exchange—interact with smart contracts. These types of transactions need more computational resources, which results in higher fees.
Tip to save on network fees
If your transaction isn’t urgent, consider waiting until network demand is lower. Off-peak hours—like early mornings in UTC time—often come with reduced fees.