Ethereum now adds 800,000–1 million new wallets weekly, up 33% from 2024.
Weekly wallet creation reflects rising user activity despite sideways price movement.
Network growth aligns with increasing adoption of Layer 2s and decentralized applications.
Recent Santiment data indicates that there is a significant rise in Ethereum wallet creation. New wallets added to the network are currently between 800,000 and 1 million per week. This value is a high increase compared to the 560,000 to 670,000 wallet additions per week in summer.
The smallest number of new addresses was achieved in the latest week, close to 896,000. During the middle of May, this growth has remained stable implying that there has been a constant increase in the number of participating users. Santiment links this increase to the increased utility on the Ethereum network as more and more users (retail and institutional) continue to interact with it.
Stable Price, Rising Utility
While Ethereum trades near $2,495 with minimal price movement, the wallet growth highlights underlying network strength. The token price has remained close to $2,500 for much of the past week, even as new wallet creation surged. This activity often indicates future developments or user anticipation of ecosystem changes.
https://twitter.com/santimentfeed/status/1935737669008372077
When the number of wallets created increases, there are usually more users adopting Ethereum through trade, decentralized applications, or staking. The platform continues as the most used smart contract network, and its popularity is associated with the increasing attention to Layer 2 networks and DeFi tools.
Santiment’s data shows a clear upward trend over several months, with some fluctuations but steady long-term gains. Investors often view this as a positive indicator of ecosystem health, especially when price remains stable.
Outlook Supported by Network Development
It is possible that the increase in the activity of new wallets is an indication of the increasing interest of developers and people in the expanding Ethereum ecosystem. The major contributors are the scaling optimizations through Layer 2 networks, optimization of staking protocols, and further transformation towards on-chain financial services.
Such progress indicates that users consider not only Ethereum as an asset but also an infrastructure to decentralized activity. Although wallet creation is not a sure guarantee when it comes to price enhancement, it is usually followed by market improvement.
As the core idea of Ethereum strengthens its network, there seems to be an upward trend of interest in the utility in the long term even though the market is currently being consolidated.
The popularity of Ethereum, as demonstrated by the growing number of wallets is one of the determinants of the continued relevance of the ecosystem within the wider cryptocurrency space.
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