Key Highlights
- •Ethereum's active addresses have nearly doubled to approximately 8 million in the past month.
- •Daily transactions reached a record 2.8 million, primarily driven by stablecoin usage.
- •Increased on-chain activity and ETF inflows are contributing to a positive outlook for ETH.
Growing User Engagement on the Ethereum Network
Ethereum is experiencing a significant increase in new user activity, with on-chain data indicating a growing number of first-time participants engaging with the network over the past month. According to crypto analytics firm Glassnode, Ethereum's month-over-month "activity retention" has nearly doubled. This signifies a surge in new wallets interacting with the blockchain, rather than activity driven solely by existing users. The number of new active addresses climbed from just over 4 million to nearly 8 million within a 30-day period.
Ethereum’s Month-over-Month Activity Retention shows a sharp spike in the “New” cohort, indicating a surge in first-time interacting addresses over the past 30 days.
This reflects a notable influx of new wallets engaging with the Ethereum network, rather than activity being… pic.twitter.com/h8Zw7hXOSX— glassnode (@glassnode) January 15, 2026
Glassnode stated that the data suggests fresh demand is entering the Ethereum ecosystem, with new users not only interacting with the network but also continuing to remain active.
Record Levels for Daily Transactions and Active Addresses
The increase in new users is mirrored by a sharp rise in overall network usage. Data from Etherscan shows Ethereum's active addresses have more than doubled year-on-year, increasing from around 410,000 to over 1 million as of January 15.
Daily transaction volumes have also reached new highs. Ethereum processed a record 2.8 million transactions on Thursday, marking a 125% increase from the same period last year.
Crypto research outlet Milk Road attributed the spike largely to surging stablecoin activity on Ethereum, alongside falling transaction fees. The outlet noted that Ethereum's strategy of shifting execution to layer-2 networks while maintaining settlement on the base layer is beginning to deliver tangible scalability benefits.
Improving Sentiment Fuels Bullish Outlook for ETH
Market sentiment toward Ethereum has improved alongside rising on-chain activity. Additional on-chain metrics reinforce the optimistic outlook. Nick Ruck, director of LVRG Research, noted that Ethereum's daily transactions have consistently exceeded 2 million, while total ETH staked has climbed to nearly 36 million ETH.
MN Fund founder Michaël van de Poppe echoed the sentiment, stating that Ethereum appears to be in a compression phase that could resolve with a sharp move higher in the coming week.
Ethereum co-founder Vitalik Buterin also highlighted the growing maturity of the Web3 ecosystem, asserting that the prerequisites for a fully decentralized internet are now in place.