In the first quarter of 2026, Ethereum’s on-chain activity reached a new historical high. According to the MarsBit news item, monthly active users, transaction volume and throughput on Ethereum all set fresh records during the quarter, showing continued expansion in network usage. At the same time, the size of dollar-denominated assets and fee revenue declined, creating a contrast between stronger on-chain activity and weaker dollar-based asset and fee metrics.
Tokenized assets were one of the leading growth areas in the quarterly review. The report specifically mentions rapid expansion in tokenized funds, commodities and stocks, indicating that these asset categories became a major part of Ethereum’s on-chain finance activity during the period. Stablecoins, however, remained the dominant category, continuing to serve as a core component of Ethereum-based assets and transactions.
Scaling upgrades were another key part of the quarter’s performance. Lower transaction costs helped the Ethereum network support broader activity, while institutions accelerated their rollout of compliant tokenized financial products. Taken together, Ethereum’s first quarter of 2026 was defined by record on-chain usage, rapid growth in tokenized assets, continued stablecoin dominance and a stronger institutional focus on compliant tokenized finance.