Ethereum June 2025 Update

Furthermore, along with the 1.5% price decrease, Ethereum’s Real Economic Value (REV), which combines transaction fees and tips paid for transaction execution, also decreased by ~10%. After four months of declining REV, May broke the streak with a 40% increase; however, June saw Ethereum’s REV decline from $49.5M in May to $44.9M, resuming the downward trend.

However, other chains fared worse as Ethereum’s share of REV also rose from ~18% in May to ~22.6% in June. When zoomed out, the picture is less optimistic as Ethereum’s market share continues to be eroded. In June, two chains recorded higher REV shares: Solana (32%) and Tron (28%). Below we show Ethereum’s monthly REV over the last twelve months. 

Similarly, application revenue on Ethereum also rose, ending June with $59.8M, a 14% increase over May’s $52.5M. CDP (Collateralized Debt Position) continues to be the largest sector with 16.9%, with Maker DAO the undisputed leader. Outside of unnamed sectors, Lending takes second place with 13.7% market share (Aave being the market leader), followed by Liquid Staking at 10% (Lido). The 14% increase in app revenue also came with an increase in market share as Ethereum ended June with 16.9% (vs May at 13.2%). Below we show the application revenue by sector on Ethereum over the last twelve months.  

Ethereum managed to maintain its position in the data availability market, with its market share holding steady from ~52.3% in May to 51.6% in June. The recent reclaim of DA market share was primarily driven by a sharp 95% decline in data posted to Celestia by Eclipse over the last few months. Below we show the DA providers’ market share over the last twelve months.