#ETH Ethereum Q1 2026: Insights From Etherealize Report.
Ethereum is seeing strong network growth, and a new Etherealize breakdown of Token Terminal’s Ethereum Q1 2026 performance report explains why. Even though lower fees might look negative at first, they’re actually part of Ethereum’s plan to make the network cheaper and easier to use.
That strategy seems to be working. Over the past year, monthly active users jumped 85.9%, transactions rose 81.5%, and network throughput increased 81.7%, showing much higher overall activity. And the growth isn’t slowing down.
The upcoming Glamsterdam upgrade is expected to more than triple the gas limit, while Ethereum’s long-term roadmap aims for 10,000 TPS and faster finality by 2029.
Ethereum Q1 2026 Performance Metrics
Ethereum’s user base remained one of the largest in crypto despite a broader market slowdown.
Total Value Locked (TVL): $316.2 billion (-11% QoQ, +22.8% YoY)
Active Loans: $21.8 billion (-16.6% QoQ, +39% YoY)
Trading Volume: $134.5 billion (-24% QoQ)
Ecosystem Fees: $2 billion (-16.9% QoQ)
Tokenized Asset Market Cap: $203.4 billion (+42.9% YoY)
Stablecoins: $178.9 billion
Tokenized Funds: $19.4 billion (+73.1% YoY)
Tokenized Commodities: $4.7 billion (+325.9% YoY)
Record User Growth on Ethereum
One of the biggest highlights was user activity.
Based on the report, monthly active users reached an all-time high of 13.2 million, up 53.5% from the previous quarter and nearly 86% compared to a year ago. Whereas, the transaction count hit a record 200.4 million, while network throughput climbed to 25.78 transactions per second.
At the same time, Ethereum layer-1 fees dropped to $39.9 million, down nearly 48% quarter-over-quarter. The decline came as network upgrades made transactions cheaper and increased data capacity.
In simple terms, more people are using Ethereum while paying less to transact.
Ethereum Continues to Lead Tokenization
Ethereum remains the dominant blockchain for tokenized assets.
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