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Mohammed Helmy
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Ethereum is seeing a surge in new users, with on-chain data indicating that activity retention has nearly doubled over the past month, according to analytics firm Glassnode.
Most important key points:
- Ethereum is seeing a huge surge in new users, with retention and the number of new active addresses nearly doubling over the past month.
- Daily transactions have reached an all-time high, with the number of active addresses increasing year over year.
- Lower fees and increased usage of stablecoins support sustainable network growth.
The company said the sharp increase in addresses interacting for the first time over the past 30 days indicates that new users are entering the network, rather than existing participants driving the bulk of activity.
Glassnode reported that month-over-month activity retention increased significantly in the latest group of users, indicating that new wallets are not only interacting with Ethereum, but continuing to use it.
Ethereum network activity doubles as number of new users and transactions increases
The number of new active addresses has increased from just over 4 million to around 8 million over the past month.
Activity retention tracks whether users remain engaged over time, providing insight into whether a network’s growth is sustainable or driven by short-term spikes.
The broader network data shows similar dynamics. Over the past year, the number of active addresses on the Ethereum network has more than doubled, from around 410,000 to more than 1 million addresses, according to data from EtherScan.
The number of daily transactions also increased significantly, reaching a record high of 2.8 million on Thursday, an increase of almost 125% from levels seen a year ago.
Analysts attribute much of this growth to the increased use of stablecoins and falling transaction costs. Macroeconomics platform Milk Road said the increase reflects Ethereum’s transition to moving execution operations to second-layer networks while retaining settlement on the main chain.
This design reduced costs while maintaining security, making the network more accessible for everyday use.
Data from the Token Terminal platform shows that stablecoin activity on the Ethereum network has reached an all-time high as fees have fallen to their lowest levels in many years.
This combination appears to encourage more frequent use of the network, especially regarding payments and DeFi activities.
Market participants claim that the improving situation on the blockchain contributes to the increase in positive sentiment around Ethereum.
Ethereum’s price recently hit a two-month high near $3,400 before retreating to around $3,300 in early trading on Friday, as investors questioned whether the surge in activity could translate into sustainable price action.
Buterin says Ethereum has solved the blockchain trilemma
Buterin said last week that the Ethereum network had solved the blockchain trilemma, taking a step that many in the cryptocurrency world had long considered unachievable.
The Ethereum mastermind argued that recent and upcoming updates have finally aligned decentralization, security, and scalability through code that actually runs in a production environment.
At the heart of this claim are two technical developments, including peer data availability sampling (PeerDAS) and zero-knowledge Ethereum virtual machines (zkEVM).
Meanwhile, Ethereum’s staking dynamics have changed sharply with validator outflows stopping and new capital returning to long-term staking, indicating a notable shift in market behavior among large Ethereum holders.
