Ethereum reached 13.2M monthly users and 200.4M Q1 2026 transactions, as L1 fees dropped 81.9% YoY to $39.9M.
Ethereum recorded its highest reported user and transaction levels in the first quarter of 2026, according to Token Terminal data.
The report showed monthly active users reaching 13.2 million, marking an 85.9% increase from the same period a year earlier.
Ethereum transactions also rose to 200.4 million in Q1, representing an 81.5% year-over-year increase and a new reported record.
At the same time, Ethereum L1 fees fell to $39.9 million, down 81.9% year-over-year, despite higher network activity.
Ethereum User Activity Reaches New Record
Token Terminal said Ethereum monthly active users reached 13.2 million in Q1 2026. That figure was up 85.9% from Q1 2025. It also marked the highest reported user level in the dataset.
Token Terminal: Ethereum Hit Record Users and Transactions in Q1, While L1 Fees Fell 82% YoY
Token Terminal’s Ethereum Q1 2026 report shows monthly active users reached a record 13.2 million (+85.9% YoY), while transaction count hit 200.4 million (+81.5% YoY) and throughput rose… pic.twitter.com/rokZLzThCX
— Wu Blockchain (@WuBlockchain) June 18, 2026
In addition, user activity increased from the previous quarter. Monthly active users rose 53.5% compared with Q4 2025. This showed stronger use across the Ethereum network.
Transaction count also reached a new record during the quarter. Ethereum processed 200.4 million transactions in Q1 2026. That was up 81.5% from the same period last year.
Quarterly transaction growth also moved higher. Transactions increased 38% from the previous quarter. As a result, Ethereum saw growth across both yearly and quarterly measures.
L1 Fees Fall While Transactions Rise
Ethereum L1 fees fell to $39.9 million in Q1 2026. That total was down 81.9% from Q1 2025. The drop came while network activity reached record levels.
Meanwhile, Ethereum throughput also increased during the quarter. Token Terminal reported 25.78 transactions per second in Q1 2026. That figure was up 81.7% year-over-year.
The data showed a clear split between usage and base-layer fees. More users joined the network, and more transactions were processed. Yet L1 fee income fell compared with last year.
Application fees across the Ethereum ecosystem reached $2.0 billion. These fees came from apps built around Ethereum activity. This showed that app use remained large during the quarter.
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Ethereum Ecosystem TVL Reaches $316.2B
Token Terminal reported Ethereum ecosystem TVL at $316.2 billion. TVL means the value held across apps and protocols. The figure covered activity across the wider Ethereum ecosystem.
The report said Ethereum held 71% of the top five chains combined. This placed Ethereum ahead of other major chains by that measure. It also showed its large share of tracked on-chain value.
Active loans in the Ethereum ecosystem reached $21.8 billion. These loans reflected lending activity across Ethereum-based finance apps. In addition, they showed continued use of on-chain credit markets.
Market analyst whale factor also tracked ETH, SOL, BTC, ONDO, UNI, and LINK after the report.
Still, Token Terminal focused on network data rather than price forecasts. Overall, Ethereum recorded higher use while L1 fees fell 82% year-over-year.
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