On-chain data shows that non-empty addresses on the Ethereum network set a new record of 175.5 million, the highest among all digital assets.
Ethereum recorded a new record in total holders
According to data from on-chain analytics firm Santiment, the total number of holders recently reached a new milestone for Ethereum. This metric tracks the total number of wallets on the network carrying a non-zero balance. When the value of this metric increases, it means that new users are joining the network and/or old users who had sold earlier are reinvesting in the asset.
This trend can also arise when existing users spread their holdings across multiple wallets. In general, it can be assumed that these three elements play simultaneously to some extent, meaning that every time the total number of holders increases, some net adoption of the network takes place.
On the other hand, the falling indicator suggests that some investors are emptying their wallets, potentially because they have decided to get out of cryptocurrency.
Now here is the chart shared by Santiment that shows the trend in total Ethereum holders over the past few months:
The growth in the metric seems to have accelerated in recent weeks | Source: Santiment on X
As the chart above shows, the total amount of Ethereum holders increased during the second half of 2025, but since mid-December, the indicator’s growth has shifted into high gear. In January alone, an additional 5.16 million addresses joined the network, representing a jump of 3.03%. The metric’s value now stands at 175.5 million, a new all-time high for ETH and a record among all digital assets.
The growth in total holders is not the only on-chain development Ethereum has seen recently. In the same chart, the analytical company also attached data from another indicator: supply on stock exchanges. This metric measures the total amount of ETH currently stored in wallets associated with centralized exchanges.
The chart shows that the supply of Ethereum on exchanges has continued to decline, a sign that investors have been withdrawing their Ethereum from these exchanges. The push toward exchange withdrawals came as interest in staking on the network increased.
“As staking continues to attract high interest, especially when markets move sideways, the supply of currencies will also continue to decline,” Santiment explained.
ETH Price
Ethereum is recovering from its Sunday low below $2,800, with the asset’s price now back above $3,000.
The trend in the price of the coin over the last five days | Source: ETHUSDT on TradingView
Featured image of Dall-E, chart from TradingView.com
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