ARK Report Shows Ethereum Mainnet Revenue Dropped to $40.6 Million in Q3

Ethereum mainnet network revenue contracted to approximately $40.6 million in the third quarter of 2026, down from $63 million in the prior quarter, according to ARK Invest's DeFi report. Annualized staking yields fell from 2.81% to 2.61%, with over 96% funded by token issuance rather than fee capture, despite staked ETH hitting a record 43.8 million. The mainnet decline came even as broader DeFi recovered through token incentives, with total spot DEX volume rising 13% to $571 billion, lending deposits surging 51% to $81 billion, and tokenized stock volume reaching $50 billion.