Blockchain On-Chain Metrics: Ethereum, Bitcoin, Solana, BSC, Tron & Base Q1 Report (Jan – Mar 2026)

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• Ethereum TVL declined from $67.982B (Jan 1) to $52.492B (Mar 31) after peaking mid-January
• Solana recorded the highest DEX activity among all chains with multiple days above $5B volume
• BSC maintained the highest transaction throughput, consistently exceeding 14M–19M daily transactions
• Bitcoin TVL dropped sharply in March before recovering toward month-end
• Tron sustained dominance in stablecoin supply, consistently above $84B–$86B
• Base showed steady ecosystem activity despite TVL compression in February

Ethereum

• TVL rose from $67.982B (Jan 1) to a peak of $75.525B (Jan 15), followed by a steady decline to $65.84B by Jan 31
• February continued the downtrend with TVL falling to $51.667B on Feb 6 before stabilizing around $53B–$56B
• March TVL remained relatively stable between $52.4B and $59.6B, ending at $52.492B
• Chain fees increased significantly toward the end of January, reaching $1.68M on Jan 31
• DEX volume showed strong spikes, including $2.886B (Jan 14), $2.961B (Jan 20), and $3.729B (Jan 31)
• Active addresses crossed 1M multiple times, peaking at 1.15M on Jan 29
• Daily transactions ranged from 1.7M to 2.78M, with peak activity in mid-January
• February and March showed moderate activity consistency despite lower TVL levels

Solana

• TVL increased from $8.273B (Jan 1) to $9.346B (Jan 30), before declining to $7.555B by Feb 1
• February recorded the lowest TVL at $6.128B on Feb 6, followed by gradual stabilization
• March TVL ranged between $6.35B and $7.26B, ending at $6.164B
• Chain fees remained consistently high, frequently between $700K–$1.4M
• DEX volume peaked at $5.67B (Jan 21), with multiple days above $4B during January
• February DEX volume remained volatile, ranging between $1.2B and $3.8B
• March activity showed reduced volatility, with volumes mostly between $1B–$2.8B
• Overall, Solana maintained strong trading activity relative to its TVL size

BSC Chain

• TVL increased from $6.602B (Jan 1) to $7.196B (Jan 14), then gradually declined to $5.349B by Mar 31
• Chain fees peaked above $1.26M (Jan 21) and remained elevated during high activity periods
• DEX volume surged to $3.739B (Jan 21), with multiple days above $2B in January
• Perpetuals volume remained stable, generally between $250M–$575M
• Active addresses consistently ranged between 2.3M–3.3M, showing strong user retention
• Daily transactions peaked at 19.68M (Jan 21), the highest among all chains
• February saw a decline in TVL to near $5.1B, with transactions still maintaining above 14M daily
• March activity remained consistent, with transactions between 12M–16M and stable user participation

Bitcoin

• TVL increased from $6.798B (Jan 1) to $7.475B (Jan 15), then declined steadily through February
• Lowest TVL recorded at $2.819B on Mar 23, followed by recovery to $4.541B on Mar 31
• Chain fees remained relatively stable, mostly between $150K–$300K, with occasional spikes above $400K
• Token market capitalization ranged from $1.26T to $1.93T during the period
• February marked the sharpest decline phase in both TVL and market cap
• March showed gradual recovery in TVL alongside stabilization in market cap above $1.3T

Tron

• TVL remained stable, ranging from $4.396B (Jan 1) to $5.092B (Jan 18), ending at $4.516B (Mar 31)
• Chain fees consistently ranged between $700K–$1.2M, showing strong revenue generation
• Stablecoin market cap remained dominant, consistently between $82B–$86B throughout the quarter
• Active addresses ranged from 2.5M to 3.7M, with peaks above 3.7M in January
• Daily transactions consistently remained between 9M–12M, indicating steady network usage
• DEX and perps volumes remained relatively moderate, with periodic spikes above $100M
• February saw slight declines in TVL but stability in user activity and stablecoin supply
• March maintained consistent performance across all key metrics

Base

• TVL increased from $4.447B (Jan 1) to $5.282B (Jan 18), then declined to $4.566B by Jan 31
• February recorded a drop below $4B, reaching a low of $3.637B on Feb 6
• March saw recovery and stabilization, with TVL ranging between $3.9B–$4.35B, ending at $3.974B
• Chain fees ranged from ~$40K to $1.26M, with peaks during high trading days
• DEX volume peaked at $1.829B (Jan 31), with several days above $1B in January
• Perps volume reached highs above $800M, particularly in January
• February saw reduced trading activity alongside lower TVL
• March activity stabilized with moderate DEX and perps volumes

Overall

Across Q1 2026, Ethereum showed a decline in total value locked (TVL) from $67.982B to $52.492B despite maintaining strong activity in transactions and DEX volumes, particularly during mid-January peaks. Solana demonstrated consistently high DEX trading activity, with volumes frequently exceeding $4B–$5B even as TVL declined from $9.3B to $6.1B. BNB Chain (BSC) led in network usage, recording the highest daily transactions, reaching up to 19.68M, while sustaining active addresses above 2M throughout the quarter. Bitcoin experienced a significant contraction in TVL from $6.7B to a low near $2.8B in March before recovering to $4.5B by month-end, alongside fluctuations in market capitalization. Tron maintained strong stability, particularly in stablecoin dominance, consistently holding between $82B and $86B with steady transaction volumes above 9M daily. Base showed moderate volatility, with TVL dropping below $4B in February before stabilizing near $4B in March. Overall, the data reflects a quarter marked by declining TVL across most chains but sustained user activity, transaction throughput, and trading volumes across major blockchain ecosystems.

The full blockchain metrics dataset is available for download on the official GitHub repository.