Ethereum’s Layer-1 network reached fresh usage records in Q2 2026, despite a sharp decline in monthly active users. Token Terminal data shows Ethereum processed 203.9 million transactions during the quarter, up 68.4% from a year earlier. Average throughput also reached a record 25.9 transactions per second.
However, monthly active users dropped 30% quarter over quarter to 9.2 million. Consequently, the remaining users generated significantly more transactions. Fees climbed 31.6% to $52.5 million, while ETH burn revenue more than doubled to $17.1 million.
Tokenization Strengthens Ethereum’s Position
Ethereum’s tokenized asset market averaged $203.1 billion during Q2. Stablecoins accounted for $176.8 billion, while tokenized funds reached $20.8 billion. Additionally, tokenized U.S. Treasury funds hit a record $7.5 billion average.
Moreover, Ethereum retained the largest share of stablecoins and tokenized funds among leading chains. Its ecosystem TVL averaged $287.2 billion, although that figure declined 9.2% quarter over quarter.
Staking Growth Supports ETH
Ethereum’s staking ratio reached a record 32%, signaling stronger participation in network security. The number of ETH-holding addresses also climbed 6.6% to 312.1 million.
Significantly, ETH currently trades around $2,538, up 1.18% over 24 hours. Hence, stronger network usage, rising staking participation, and expanding tokenization could support Ethereum’s long-term market position.
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