$ETH
According to recent blockchain data, new Ethereum users are soaring. IntoTheBlock says that 40% of Ethereum wallets active in the last week are new wallets. This is the “New Adoption Rate” which is the percentage of first-time users transacting on the network.
The timing is what stands out. Ethereum’s price is falling, yet this is the time when adoption is increasing. ETH has now fallen to around $1,742 by April 2025, down from more than $4,000 just months earlier. This decline notwithstanding, the network is still welcoming new users at one of the highest rates in recent years.
If this trend continues, it may be a sign that people are becoming less interested in speculating on short-term price action, and more interested in the long-term utility of Ethereum. Instead of just buying and selling the token, users might be using decentralized applications, smart contracts, or blockchain games.