Authored by Stephen Katte and edited by Felix Ng, the latest analysis reveals a significant uptick in Ethereum wallet creation, driven by a confluence of market dynamics and recent network enhancements. Over the past week, an average of 327,000 new Ethereum wallets were generated daily, with a record-breaking 393,000 wallets created on Sunday alone, as reported by Santiment.
This unprecedented increase in wallet creation indicates a potential influx of new users, developers, or institutions into the Ethereum ecosystem. Current data shows that non-empty Ether wallets have reached an all-time high of 172.9 million. As of now, Ethereum's value stands at $3,330, marking a 7.5% increase in the last 24 hours, fluctuating between $3,068 and $3,292 throughout the previous week, according to CoinGecko.
The surge in wallet creation may be attributed to the Fusaka upgrade implemented in December, which streamlined data processing on the blockchain and reduced costs for Layer 2 interactions, thus lowering fees and facilitating smoother app and rollup interactions. This, in turn, has attracted numerous new users to the network.
Additionally, a shift in crypto sentiment and stablecoin usage has contributed to Ethereum's growth. Mid-December saw an improvement from negative to neutral and positive sentiment among holders, correlating with an increase in retail participation and address creation. Rising interest in decentralized finance (DeFi), non-fungible tokens (NFTs), and other applications further fueled user engagement.
A notable rise in stablecoin transactions on Ethereum by late 2025 also highlighted the network's active role in payments and settlements, drawing in participants who established wallets for managing stablecoins and other cryptocurrencies.
According to Nansen, more than half of Ethereum's total supply is currently locked in staking contracts. The ETH2 Beacon Deposit Contract alone holds over 77 million tokens, serving as validator stakes securing the network. Major exchanges like Binance and Coinbase collectively manage millions of Ether on behalf of their users.
In conclusion, the combination of technological advancements and shifting market sentiments has significantly boosted Ethereum's appeal, as reflected in the surge of new wallet creations and the overall increase in network activity.