ETH Gas Fee is 360$ at opensea as the price of eth collapse to 1800
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a lot of people rush to the exit door
This is a bad situation, if you have 1 ether
If you wanted to go to usd now it will cost you 120$ to make the swap.
The chain is overloaded with transactions of people trying to get out as the price falls. but the exit door can allow only small amount of people,
Therefore everybody is willing to pay double just to get out.