Ethereum network growth hits 206,000 new addresses

Ethereum (CRYPTO:ETH) has recently experienced a notable surge in network activity, marking its highest growth in over two years.

Between January 24 and 25, 2025, the blockchain saw the creation of 206,290 new wallet addresses, according to market intelligence platform Santiment.

This increase represents the most significant daily growth since October 2022, indicating a renewed interest in the Ethereum ecosystem despite recent price challenges.

The uptick in wallet creation comes at a time when Ethereum's price has been under pressure, with ETH trading around $3,069.12, reflecting a decline of approximately 7% on the day.

Investors have expressed concerns as other cryptocurrencies like Solana (CRYPTO:SOL) and Ripple (CRYPTO:XRP) have outperformed Ethereum in recent months.

Despite these challenges, Ethereum maintains its leadership position in the number of non-empty addresses across the crypto sector.

The rise in new wallet creation is attributed to several factors, including increased adoption of decentralised finance (DeFi) platforms and growing interest in Ethereum staking options.

Additionally, Ethereum's open interest in futures contracts has reached an all-time high, suggesting heightened trader activity and potential for future price rallies.

The Ethereum Foundation has also launched initiatives to enhance transparency within its treasury management through a multisig wallet aimed at participating in the DeFi ecosystem.

While negative sentiment persists among investors regarding regulatory compliance and decentralisation concerns, the surge in wallet creation signals a potential shift in engagement with the network.

"The growth in new addresses is a bullish signal that could lead to a breakout for ETH," one analyst noted.

With these developments, Ethereum's network activity remains robust, reinforcing its critical role in the broader cryptocurrency landscape as it continues to evolve amid market fluctuations.

At the time of reporting, the Ethereum (ETH) price was $3,189.63.