On-chain data shows that the growth of the Ethereum network has reached a new all-time high (ATH), suggesting that ETH adoption has accelerated.
Ethereum network growth has increased recently
In a new article on X, on-chain analytics company Santiment discussed the recent increase in growth of the Ethereum network. This metric measures the total number of addresses brought online to the network for the first time.
A wallet is said to be “live” when it is participating in some sort of transaction activity on the blockchain. Thus, the addresses tracked by Network Growth are those that participate in their first transfer.
When the metric value is high, it means that users are creating a large number of new addresses on the network. Such a trend may be a sign that adoption of the asset is underway.
On the other hand, an indicator with a low value may imply that the cryptocurrency is not attracting new users, as there is not much wallet generation on the network.
Now here is the chart shared by Santiment that shows the growth trend of the Ethereum network over the past year:
The value of the metric seems to have shot up in recent days | Source: Santiment on X
As the chart above shows, the growth of the Ethereum network has seen a recent spike. Over the past week, address generation has averaged around 327,100 per day, with a particularly high level seen on Sunday, when 393,600 new addresses appeared.
Sunday’s high marks a new all-time high for the indicator, meaning ETH saw an unprecedented number of address creations in a single day. Due to the strong growth of the network, the total number of holders, a metric that tracks the number of non-empty addresses that exist on the blockchain, also climbed to reach a new ATH of 172.97 million.
What’s driving all this adoption? According to the analytics company, several factors may contribute to this trend. The first is the Fusaka upgrade that took place in December, which improved data management and reduced layer 2 fees.
The second is the record stablecoin activity that the Ethereum blockchain saw in late 2025, with transaction volume reaching $8 trillion in the fourth quarter. “This type of real-world financial activity tends to attract new participants who create wallets to send, receive or hold stablecoins and other tokens,” Santiment explained.
Finally, the start of the year saw growing interest and improving trader sentiment, which reportedly led to new retail traders signing up for new wallets.
ETH Price
The past day was bullish for Ethereum as its price surged by more than 5%, returning to the $3,340 level.
Looks like the price of the coin has shot up recently | Source: ETHUSDT on TradingView
Featured image of Dall-E, chart from TradingView.com
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