Ethereum’s real economic value (REV) in Q2 totaled $88.4 million, up 7% quarter-on-quarter but down 68% year-on-year, according to The DeFi Report’s Ethereum Q2 ecosystem performance report.
According to ChainCatcher, the report said Ethereum’s average “real on-chain yield” in Q2 was 0.17%, down 14% from the prior quarter and down 61% year-on-year.
The report added that total on-chain yield, including issuance, was 2.68%, with issuance accounting for 94% of that figure. Priority fees and MEV contributed 0.17%.
The DeFi Report said Ethereum’s L1 GDP, DeFi activity, and L2 participation continued to weaken significantly.
While user experience and throughput improved, the report said Ethereum’s L1 fee-capture ability remained weak. It argued that future growth may depend on real-world applications—such as real-world assets (RWA)—using Ethereum as a settlement layer to help smooth cyclical volatility.
The DeFi Report: Ethereum’s Q2 Real Economic Value Rose 7% Quarter-on-Quarter to $88.4 Million
2026-07-03 15:44:13
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