According to a MarsBit market analysis report, Ethereum’s first quarter of 2026 showed a clear “low fees for scale” pattern. The report states that the network reached all-time highs in user count, transaction volume and throughput, indicating that on-chain usage continued to expand while more activity was processed at lower cost.
The same report also listed several metrics that declined on a quarter-over-quarter basis. Transaction fees, TVL, trading volume and market value all fell from the previous quarter. As a result, Ethereum’s Q1 profile combined two different signals: network users and processing capacity reached new highs, while fee revenue, locked value and market capitalization-related indicators moved lower.
The report further says Ethereum’s core positioning is shifting from a DeFi public chain toward a global financial settlement layer. It describes Ethereum as holding a dominant role in stablecoins, tokenized funds and commodities. Institutions including BlackRock and JPMorgan are accelerating their entry into the sector, helping bring tokenized assets into implementation.