The Ethereum network saw a sharp rise in new users this month, with new activity retention nearly doubling over the past 30 days, driven by an influx of first-time wallets rather than repeat participants, according to a Glassnode post. Analysts link the surge to increased stablecoin flows and lower fees on the chain.
New activity retention jumped from just over 4 million addresses to around 8 million addresses in the past month. This metric tracks how many new addresses remain active over time.
Active addresses have also climbed, rising from about 410,000 a year ago to over 1 million on Jan. 15, per an Etherscan chart. Daily transactions reached a record 2.8 million on Thursday, a roughly 125% increase year-over-year, while stablecoin use expanded as fees fell, as Milk Road reported.
Arctic Digital researcher Justin d’Anethan said market indicators look more positive now. “There’s a lot to be optimistic about when looking at Ethereum,” he stated.
LVRG Research director Nick Ruck noted rising staking and transaction counts as supportive fundamentals. “These strong on-chain fundamentals, combined with sustained ETF inflows and growing ecosystem optimism, position ETH for a potential breakout above current resistance levels in the near term as liquidity tightens amid heightened institutional participation with recent scaling upgrades boosting speed and lowering gas fees,” he added.
MN Fund founder Michaël van de Poppe also expressed bullish near-term expectations in a recent post. Ether traded near $3,300 after touching about $3,400 this week.
