On-chain data shows Ethereum network growth surging to an all-time high (ATH), suggesting ETH adoption is accelerating.
The growth of the Ethereum network has accelerated rapidly recently.
On-chain analytics firm Santiment discussed the recent growth of the Ethereum network in a new post on X. This metric measures the total number of addresses coming online for the first time on the network.
A wallet is said to be “online” when it participates in some transactional activity on the blockchain. Therefore, the addresses that Network Growth tracks are those that participate in the initial transfer.
A high value for the metric means that users are creating a large number of new addresses on the network. Such trends may indicate increased adoption of assets.
On the other hand, a low value of the indicator may mean that the cryptocurrency is not attracting new users as there is not a lot of wallet generation on the network.
Here is a graph shared by Santiment that shows the growth trends 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 shown in the graph above, the growth of the Ethereum network has skyrocketed recently. Over the past week, address generation has averaged around 327,100 per day, with particularly high levels observed on Sunday, when 393,600 new addresses appeared.
Sunday’s high was a new record for the indicator, meaning ETH experienced an unprecedented amount of address creation in a single day. As a result of the network’s rapid growth, the total amount of holders, a metric that tracks the number of non-empty addresses that exist on the blockchain, also surged to a new ATH of 172.97 million.
What’s driving this adoption? According to analytics firms, there are several factors contributing to this trend. The first was the Fusaka upgrade in December, which improved data processing and reduced Layer 2 charges.
The second is the record stablecoin activity seen on the Ethereum blockchain in late 2025, with trading volume reaching $8 trillion in the fourth quarter. “This kind of real financial activity tends to bring in new participants who create wallets to send, receive, or hold stablecoins and other tokens,” Santiment explained.
Finally, the beginning of the year saw increased interest and improved sentiment among traders, which could lead to new retail traders signing up for the new wallet.
ETH price
It was a bullish development for Ethereum over the past day, as its price rose more than 5% and recovered to the $3,340 level.
Looks like the price of the coin has shot up recently | Source: ETHUSDT on TradingView
Featured image from Dall-E, chart from TradingView.com
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