Ethereum Hits Transaction Record as Active Users Drop 30%: What Changed on the Network?

The Ethereum mainnet broke records for transaction count and average transaction capacity in the second quarter of 2026, while monthly active users declined.

According to Token Terminal data, the Ethereum mainnet processed 203.9 million transactions in Q2 2026. The number of transactions increased by 68.4% compared to the same period last year. Average transaction capacity also reached an all-time high of 25.9 transactions per second (TPS). The data was shared by Wu Blockchain.

Despite this growth, the number of monthly active users on the network fell by 30% on a quarterly basis to 9.2 million. As a result, while transaction count and network capacity on Ethereum strengthened, user activity did not move in the same direction.

Ethereum’s network revenues surged

Network fees on Ethereum rose by 31.6% quarter-over-quarter to $52.5 million. ETH burn revenue reached $17.1 million, a 112% increase. The staking rate climbed to 32%, while the number of addresses holding ETH hit a record 312.1 million.

The average market cap of tokenized assets on Ethereum was measured at $203.1 billion throughout the quarter. Approximately $176.8 billion of this total consisted of stablecoins, and $20.8 billion came from tokenized funds. The Token Terminal report also noted that the Ethereum ecosystem’s total value locked (TVL) stands at $287.2 billion.