[DigitalToday reporter Chi-gyu Hwang (황치규)] As staking participation and institutional investment increase, use of Ethereum, Solana and Avalanche has risen and fees have fallen. But the prices of ETH, SOL and AVAX have dropped by more than half over the past year.

According to a recent report by The Block citing a Bitwise report, activity increased and transaction costs fell, but revenues for Ethereum, Solana and Avalanche all declined sharply.

The report said the revenue decline mainly resulted from protocol designs that made block space cheaper and more abundant across the networks. Some of it was also affected by weaker demand, but that was not an overall trend, the report said.

Bitwise also highlighted that institutions are moving into staking. Most ETH newly added to validator pools this year came from ETFs, corporate purchases and large holders. Da

According to the report, as of the end of the second quarter, a record 40.2 million ETH, or one-third of total issuance, was staked. Bitmine said it is staking more than 4.9 million of about 5.8 million ETH it holds. Bitmine is the largest Ethereum-based treasury company.

According to the Bitwise report, Ethereum's annualised staking yield was 2.84 percent, lower than Solana's 6.25 percent. But newly issued tokens accounted for 93 percent of Ethereum staking rewards and more than 90 percent of Solana rewards, meaning most yields came from token issuance rather than fees paid by network users.