Ethereum July 2025 Update

Fundamentals

Furthermore, along with the 49% price increase, Ethereum’s Real Economic Value (REV), which combines transaction fees and tips paid for transaction execution, also increased by ~23%. May broke a four-month decline before resuming in June. However, July’s surge saw Ethereum’s REV increase from $44.9M last month to ~$55M, resuming the (muted) upward trend. 

This 23% increase in REV helped Ethereum to maintain its positioning across all chains as Ethereum’s share of REV remained relatively flat (rising from ~22.6% in June to ~23.0% in July). When zoomed out, the picture is less optimistic as Ethereum’s market share continues to be eroded. In July, two chains recorded higher REV shares: Solana (36%) and Tron (26%). Below we show Ethereum’s monthly REV share over the last twelve months. 

Ethereum managed to maintain its position in the data availability market, with its market share holding steady from ~51.5% in June to 53.0% in July. The recent reclaim of DA market share since May has primarily been driven by a sharp 95% decline in data posted to Celestia by Eclipse. Below we show the DA providers’ market share over the last twelve months.