Over 73 epochs, Cardano collected 3.3 million ADA in transaction fees against 493.7 million ADA in staking rewards. Fees covered only about 0.668% of rewards, leaving a gap of roughly 150 times between fee revenue and staker payouts. Daily transactions averaged 90,294 in 2022 and fell to 24,869 in 2026, a 72.46% decline. Bots’ share of transactions doubled from 11.5% to 32.8%, indicating automated activity growing on a shrinking network. Reserves stand at 6.127 billion ADA, representing 13.62% of the 45 billion maximum supply, but their contribution to rewards decays exponentially. The Leios upgrade could increase throughput, yet the network still faces the fundamental challenge of attracting enough paid economic activity to replace reserve funding.
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