Quarterly Altcoin Spotlight: Ethereum Scales Its Network but Struggles to Reward Its Holders

Ethereum delivered a split verdict in Q2. The network expanded, Layer 2 adoption deepened, and real-world asset tokenization continued its climb. But the economics flowing back to ETH holders weakened further. Revenue at the Layer 1 level remains well below prior peaks, staking yields hit their lowest point on record, and Layer 2 rent payments to the base chain compressed to nearly nothing. The tension between network growth and token value accrual is now the defining question for the asset.