The number of new Ethereum wallets has reached a record high, with the number of non-empty addresses reaching 172.9 million

Despite the ETH price still being in a sideways consolidation phase, the number of new Ethereum wallets created reached an all-time high last week, with a strong rebound in network adoption. An average of 327,000 new Ethereum wallets were created daily over the past week, peaking at a record-breaking over 393,000 new wallets on Sunday, marking the highest single-day record ever. The total number of non-empty Ethereum wallets (addresses holding at least some ETH) reached a historic high of 172.9 million.

The Fusaka upgrade, set to launch in early December 2025, optimizes on-chain data processing, significantly reducing the cost of submitting data from Layer 2 networks to the mainnet, making it cheaper and easier to use Ethereum, especially for interacting with rollups and dApps. At the same time, Ethereum stablecoin activity surged, with total stablecoin transfers in Q4 2025 reaching a record over $8 trillion, indicating that Ethereum is being used for payments and settlements rather than pure speculation. Santiment noted, "This real financial activity often attracts new participants to create wallets for sending, receiving, or holding stablecoins and other tokens."