Ethereum sets record with 393,600 new wallets in one day

The spike reflects utility-driven growth, with lower rates and smoother Layer-2 activity after the Fusaka upgrade that attracted new users.

On Sunday, January 11, 2026, the Ethereum network saw an unprecedented 393,600 new wallets created in a 24-hour period, marking a new all-time high for daily user growth.

This historic spike in network adoption came even as Ethereum’s native ETH token was trading below its 2025 peak, suggesting a powerful wave of new users is being driven by utility and upgrades rather than just speculative price action.

An explosion of network activity

According to data from Santiment, Ethereum has received an average of more than 327,000 new addresses per day over the past week. culminating in Sunday’s record. The analytics firm linked the rise to a mix of technical upgrades, practical use and changing market sentiment.

According to them, an important factor is the Fusaka upgrade, which was implemented in early December 2025. The update changed the way data is processed on Ethereum and reduced the cost for Layer-2 networks to send data back to the main chain. Lower costs and smoother interactions made it easier for users to leverage decentralized apps, rollups and on-chain services, often starting with creating a new wallet.

The use of stablecoins has also played a central role. Santiment noted that Ethereum processed approximately $8 trillion in stablecoin transfers in the fourth quarter of 2025, the highest quarterly figure ever. Such volumes point to the blockchain’s role in payments and settlements, attracting users who need wallets to store or move dollar-pegged tokens.

Social data shows that new participants have entered the ecosystem since December, even as ETH traded sideways. Santiment added that holder sentiment shifted from negative to neutral or slightly positive in mid-December, a change that often aligns with increased retail adoption around the turn of the year.

Price action increases as traders rebuild their positions

At the time of writing, ETH was trading around $3,300, up about 6% in the last 24 hours and more than 2% in seven days. However, this move lags the broader crypto market, which gained almost 4% in the same weekly period, showing that the asset has not led the market’s latest rally.

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Meanwhile, over the 30-day period, ETH is up about 6%, while it is about 33% below its all-time high of around $4,900 from August 2025.

Traders on X have focused on nearby technical levels. Ted Pillows wrote that ETH clearing of $3,300 draws attention to $3,450, while warning that failure there could pull prices back. Another analyst, CW, marked selling pressure almost $3,700.

Derivatives data also added context to this step. Analysis agency Arab Chain reported that Ethereum is showing interest on Binance climbed to about $8.6 billion, the highest since Oct. 9, 2025. The increase follows a steep reset in the same month, when liquidations pushed open interest below $7 billion.

This backdrop is consistent with a previous analysis that highlighted a bullish crossover on the higher timeframe Ethereum charts and growing attention to the ETH/BTC pair. Along with record portfolio creation, the data paints a picture of an ecosystem that is seeing deeper engagement even before a clear price breakout takes shape.