ARK’s Q3 DeFi report shows incentives propping up activity as Ethereum mainnet slips

Crypto Insight Summary: ARK Invest’s DeFi Quarterly noted a broad recovery in the third quarter of 2026. The rebound was spurred largely by tokenized stocks, even though a large part of the activity is still reliant on brokerage distribution and token incentives. There was a drop in Ethereum’s mainnet revenue to ~$40.6 million from $63 million. Tokenized equities... Crypto Insight Analysis: Direction: Neutral Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: Ethereum revenue decline is offset by DeFi recovery and tokenized asset growth.