[Bitwise: Ethereum, Solana, and Avalanche Networks More Active and Cheaper, Even as Token Prices Decline] According to The Block, network activity on Ethereum, Solana, and Avalanche has increased over the past year, while usage costs have decreased. However, the prices of ETH, SOL, and AVAX have all dropped by approximately 50% or more. Kam Benbrik, Head of On-Chain Research at Bitwise, stated that there is a clear divergence between network fundamentals and market sentiment—on-chain activity is actually growing, but protocol design has made block space cheaper, leading to a significant decline in revenue. Bitwise's first quarterly staking report shows that by the end of Q2, Ethereum's staked amount reached 40.2 million ETH (one-third of the total supply), with new staking primarily coming from institutions.