Ethereum Records Sharp Spike in Network Activity, New Addresses Up by 100% ⋆ ZyCrypto

Major cryptocurrency Ethereum is showing strong network activity in recent times, as new addresses doubled to 8 million on a monthly basis. The move comes as the crypto market is setting itself for a sustained price recovery mode following major losses in the last quarter of 2025. Ethereum itself is trading around the $3.3k valuation, up 10% on a monthly basis. 

Major crypto analytics firm Glassnode shed light on this renewed network activity in a recent tweet:

According to Glassnode, the spike in network activity is being driven by new addresses, not just existing players. Monthly activity retention is an important metric that is used to measure the activity of any blockchain network. It shows how many users stick around and continue their interactions rather than limiting their engagement to a short-term setup. 

Ethereum Daily Active Addresses, Daily Transactions Rise

The number of daily active Ethereum addresses has also recorded a sharp spike to go above 1 million. This is the highest level since September 2023, twice what it was a year ago. Here is the graph from Etherscan:

The sharp increase in the number of active users on the Ethereum blockchain and active addresses shows that the network’s on-chain functionality is picking up steam. The situation is reportedly being fueled by massive stablecoin payments and falling network fees. Daily transactions have also jumped to 2.8 million, a new All Time High.

In addition to these two important metrics, the number of unique addresses has also crossed the 3.6 million benchmark, showing further signs that the network is facing strong on-chain, unique activity.

Ethereum Price Resurgent, But Lagging

Despite Ethereum’s strong on-chain performance in the last month, the market forces are struggling to convert this favorable situation into a bull market. The second-largest cryptocurrency by market capitalization is trading sideways around the $3.3k valuation, up roughly 20% on a monthly basis. 

Here is the graph from the last two months:

Ethereum is still looking at the market to give it a major bull signal rather than taking the matter in its own hands. This is different from previous cycles of 2016-2017 and 2020-2021, in which it set the trend for an eventual altcoin boom. ETH bulls this time around are quite laid back and simply lacking the will for a major upside action even with record-breaking on-chain figures.