Skip to main content
BTC / USDT———ETH / USDT———SOL / USDT———BNB / USDT———XRP / USDT———DOGE / USDT———TON / USDT———AVAX / USDT———LINK / USDT———ADA / USDT———TRX / USDT———DOT / USDT———BTC / USDT———ETH / USDT———SOL / USDT———BNB / USDT———XRP / USDT———DOGE / USDT———TON / USDT———AVAX / USDT———LINK / USDT———ADA / USDT———TRX / USDT———DOT / USDT———
Visualize
Charts12 chart types: candlestick, Renko, P&F, deltaIndicators123 built-in, Barometer, no marketplaceDrawing tools82 tools: Fibonacci, Gann, Elliott, harmonicsPatterns59 candle, 19 chart and 9 harmonic patterns, auto-detected
Screen & automate
ScannerMulti-timeframe screening, 140 rulesStrategyBacktest with slippage and commissions, 40 presetsAuto-tradingWebhook, signal, DCA and grid bots
Build & practice
Any Script Converter6 languages, one clickPaper trading$10K virtual account, zero riskModules9 professional analysis modules
Open the terminal Multi-pane chart workspace. No install, free paper account.
How TW coins worksEarn TW coins for lessons, ideas, broker reviews and a daily habitLeaderboardWeekly traders ranking, resets every MondayLearn tradingLessons, quizzes and rewards TW coinsTW coinComing soon! TW coin is the project's token, which can be earned and spent within the project, withdrawn and traded on DEXs and CEXs, and staked.
Best BrokersCompare regulated forex, crypto, and stock brokers based on TW Score, regulatory status, and trader reviews.Brokers NewsCompany announcements and press releasesFind my brokerAnswer a few questions and see the brokersCompare brokersPick up to 4 brokers and compare themTrading calculatorsWork out pip value, position size and marginBroker regulatorsFinancial regulators grouped by grade and jurisdiction, and the brokers licensed by each
DocsConcepts and referenceIdeasLatest from the communityJournalLongreads, analytical articlesResearchMethod breakdowns on historical chartsProduct UpdatesNew features, releases and platform updatesWeb3 toolsLaunch and manage tokens without code
Pricing
Get started→

ETH on-chain yield crumbling – what's driving the shift? 🤔

Ethereum's on-chain yield fell to 2.68% in Q2, 61% lower than last year. Now 94% of that yield comes from issuance, not network activity. Makes you wonder about the structural shift in fee generation.

Sofia Reyes·Jul 6, 2026·1 min read

Ethereum's on-chain yield dropped to 2.68% in Q2, down 61% from a year ago. That's a massive compression. The kicker? 94% of that yield now comes from issuance rather than actual network activity — so stakers are heavily reliant on inflation, not fees.

REV (real economic value) did climb 7% quarter-over-quarter, but it's still 68% below last year's levels. L1 fee generation remains weak even as throughput improves. Makes you wonder if L2s are permanently cannibalizing fee revenue. Is this the new normal? 🤔

Comments5

  • Priya Nair
    Falling yield from fees is a real concern 📈. It suggests L2s and new apps are pulling activity off mainnet, leaving ETH more reliant on issuance. This structural shift could challenge the ultra-sound money narrative if demand doesn't retur
  • Tom Fielding
    Falling yield is just math catching up with the hype. When 94% comes from issuance, you're basically watching inflation masquerade as return.
  • Hiro Tanaka
    Issuance-driven yield isn't sustainable—it's just inflation. Network activity yield dropping to 6% signals declining utility demand, not a healthy pivot.
  • Lena Brandt
    The numbers confirm what the order book suggests: real economic throughput is declining. Risk/reward on holding ETH for yield alone is poor unless issuance adjusts or activity recovers.
  • Marcus Vega
    Issuance-driven yield is fake yield. Network activity dropping means ETH is becoming a passive income asset, not an economic engine. 🚀🔥 If fees don't recover, the bull case for "ultrasound money" collapses.