Ethereum Activity Doubles As New User Addresses Surge To 8 Million

TLDR

• Ethereum’s active addresses jumped from 4M to 8M in 30 days
• Daily Ethereum transactions reached a record high of 2.8 million
• Active Ethereum wallets rose from 410K to over 1 million in a year
• Stablecoin activity and Layer 2 scaling helped cut network fees

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Ethereum is experiencing a major surge in network activity, with on-chain data revealing a sharp increase in new user engagement. Over the past month, active addresses have doubled from 4 million to 8 million, signaling growing interest in the blockchain. At the same time, daily transactions reached a record 2.8 million, driven by rising stablecoin use and lower fees enabled by Ethereum’s Layer 2 scaling solutions.

Network Activity Sees Strong Growth

Ethereum’s network activity saw a sharp rise over the last 30 days, according to on-chain analytics firm Glassnode. The platform reported that Ethereum’s activity retention—users returning to use the network—nearly doubled to 8 million wallets.

This growth reflects a strong increase in first-time interacting addresses. These addresses represent users who used the Ethereum network for the first time during the past month.
Glassnode noted that this spike indicates the increase is driven by new participants, not just existing users.

Record Daily Transactions and Active Wallets

Ethereum reached an all-time high of 2.8 million daily transactions, a 125% increase from the same time last year. Data from Etherscan shows active Ethereum addresses rose from around 410,000 a year ago to over 1 million as of January 15.

This growth has occurred alongside a rise in network engagement, including wallet activity, transfers, and protocol interaction. Experts have attributed this growth to broader crypto adoption, with more people using Ethereum-based apps, including DeFi and NFTs.

Stablecoin Usage and Lower Fees Boost Adoption

The macroeconomics outlet Milk Road stated that the growth is due to increased stablecoin usage on the Ethereum blockchain. Fees have dropped as Ethereum has shifted much of its transaction processing to Layer 2 (L2) solutions, which offer faster and cheaper services.

By moving execution to L2 and keeping settlement on the main Ethereum network (L1), users benefit from speed and lower costs. Token Terminal data shows that stablecoin activity is now at its highest level ever, further driving user engagement across the Ethereum network.

Market Sentiment and On-Chain Strength

Justin d’Anethan, head of research at Arctic Digital, said several market signals suggest a strong performance from Ethereum going forward. “Indicators that were oversold are now turning upward,” he told Cointelegraph, pointing to capital inflows into ETFs, stablecoins, and protocols.

Nick Ruck, director of LVRG Research, added that nearly 36 million ETH is now staked on the network. He explained that Ethereum’s fundamentals, along with growing investor interest and lower gas fees, support the current trend in activity.

Michaël van de Poppe, MN Fund founder, stated that Ether’s market price has seen a “compression” phase and could soon rise if the trend continues. The price of ETH recently reached a two-month high of $3,400, boosted by this rise in user participation and transaction volume.

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