According to CoinMeta, as reported by The Coin Republic, the price of Ethereum remains below $2,000 despite the network handling more activity. Market commentator Tanaka pointed out that although Ethereum's scalability is improving, its price has not kept up. Second-quarter data shows that the Ethereum base layer generated an economic value of $88.4 million, a 7% increase from the previous quarter, but it is still 68% lower than the same period last year. Meanwhile, applications running on Ethereum incurred costs of approximately $1.79 billion, with the base layer capturing only 4.9% of the value created by these applications. Tanaka believes that although the network is experiencing reduced revenue due to lower fees, this does not mean that Ethereum's price and network are failing.