The Block reports that Ethereum, Solana, and Avalanche have seen increased activity and lower transaction costs despite their token prices falling more than 50% over the past year. While network usage has risen on these blockchains, revenues have declined during the same period.
Rising activity with falling fees is good news if you're building consumer apps on Avalanche or Base, since it points to cheaper transactions and more usable throughput rather than a dead chain. The disconnect worth watching is that lower fees mean less network revenue, which can pressure validator economics and any token-based incentives you're relying on. Treat token price as a poor proxy for whether users are actually transacting, and design your unit economics assuming fees stay low.
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