Ethereum active users doubled to 8M in 30 days as daily transactions hit a record 2.8M amid rising stablecoin use and low fees.
Ethereum network activity has increased sharply in recent weeks, with new and returning users driving a strong rise in daily usage.
According to Glassnode, the number of active addresses has nearly doubled, reflecting broader growth in stablecoin use and declining network fees.
Data also shows a rise in both transactions and user retention, indicating growing engagement across the ecosystem.
Ethereum Sees Surge in New and Returning Users
On-chain analytics platform Glassnode reported that Ethereum’s “activity retention” has almost doubled in the past 30 days.
The metric rose from just over 4 million to around 8 million addresses. This indicates that a large number of new users are engaging with the network and continuing to use it.
The increase in activity is not limited to short-term use. Activity retention measures how many users stay active over time.
This suggests Ethereum is not only attracting new users but also keeping them engaged. The trend points to strong network growth from a user base perspective.
Glassnode noted that the rise in activity is driven more by new wallets than existing ones.
This change signals a growing user base and fresh demand for Ethereum-based services, especially in areas like stablecoins and decentralized finance.
Daily Transactions Reach All-Time High
The number of daily transactions on Ethereum reached 2.8 million on Thursday, setting a new all-time high.
This is a 125% increase compared to the same time last year, according to Etherscan data. The growing number of transactions reflects higher usage across the network.
The rise is linked to an increase in stablecoin activity on Ethereum.
Macroeconomics outlet Milk Road reported that fees on Ethereum have dropped as execution shifts to Layer 2 networks. This has improved transaction speed and lowered costs for users.
The combination of stablecoin volume, reduced fees, and Layer 2 expansion has led to more frequent use.
Analysts suggest that these trends could continue as more users and platforms choose Ethereum for its scalability and settlement features.
Related Reading: Ethereum Price Analysis: Can ETH Hold $3,400 or Will It Dip?
Market Sentiment Grows as Network Metrics Improve
Several analysts say that Ethereum’s current network performance reflects strong on-chain fundamentals.
Justin d’Anethan from Arctic Digital noted that network usage metrics are improving, and capital flows are returning.
These conditions have helped ETH prices reach a two-month high of $3,400 this week.
Nick Ruck from LVRG Research observed that staking has climbed close to 36 million ETH. He also said recent upgrades are helping improve speed and reduce fees.
This makes Ethereum more attractive to both users and institutions.
Michaël van de Poppe of MN Fund commented that Ethereum is showing signs of “compression” and may be preparing for further price movement.
Market watchers are closely following the network’s activity and fee trends to assess its near-term direction.
Source: https://www.livebitcoinnews.com/why-thousands-of-new-users-are-flooding-ethereum-right-now/
