Ethereum reaches record transaction volume and throughput in Q2 2026

Ethereum’s Layer-1 network reached new usage milestones in Q2 2026, characterized by a significant increase in transaction volume despite a decline in the user base. According to Token Terminal data, the network processed 203.9 million transactions during the quarter, representing a 68.4% increase from the previous year. Average throughput also hit a record of 25.9 transactions per second.

While monthly active users fell 30% quarter-over-quarter to 9.2 million, the remaining users generated higher activity levels. This resulted in a 31.6% increase in fees to $52.5 million and a doubling of ETH burn revenue to $17.1 million.

The tokenized asset market on Ethereum averaged $203.1 billion in Q2, driven by $176.8 billion in stablecoins and $20.8 billion in tokenized funds. Notably, tokenized U.S. Treasury funds reached a record average of $7.5 billion. Additionally, the network's staking ratio reached a record 32%, and the number of ETH-holding addresses increased by 6.6% to 312.1 million.