Ethereum Turns 11 With $148B Stablecoin Base But Cooler Mainnet Fees

Ethereum has turned 11, and the network’s birthday arrives with a very Ethereum-style contradiction: it is still one of the most important settlement layers in crypto, but its base-chain revenue has cooled sharply.
The validated July 31 notes show Ethereum hosting roughly $148.8 billion in stablecoins and around $15.5 billion in tokenized real-world assets. At the same time, daily mainnet revenue was reported near $330,000, with base-chain fees around $734,000 over a 24-hour period.
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