The number of Ethereum wallets rises above 175.5 million, while the supply of stock exchanges decreases

Ethereum wallet growth soared above 175.5 million as staking remains attractive even amid market uncertainty.

Ethereum (ETH) fell to almost $2,800 this weekend as rising geopolitical tensions put pressure on risky assets. However, the pullback was followed by a modest recovery, pushing the cryptocurrency back above $3,000 on Wednesday.

Despite this volatility, the network continues to grow, with record numbers in portfolios and a shrinking supply on the exchange.

Exchange ETH supply shrinks

The number of Ethereum non-empty wallets has surpassed 175.5 million, which is the highest among all cryptocurrencies, according to Santiment’s latest findings. In 2026 alone, 5.16 million wallets were registered. The data indicates steady user participation even in sideways market conditions.

The analytics firm added that the continued interest in staking is contributing to a steady decline in ETH held on centralized exchanges. Such trends can reduce selling pressure and support prices over time, even if short-term moves remain subdued.

Against this backdrop, the network’s fundamentals indicate strong underlying support. Glassnode analyst Chris Beamish found that Ethereum is currently trading around a high-fee cluster. This means that many holders have almost reached their breakeven level. He explained that holding this zone would indicate absorption and base building, while a collapse could push ETH into weaker support areas where holders could look to reduce exposure.

Largest corporate ETH holder betting millions

On the corporate treasury side, BitMine Immersion Technologies, which happens to be the largest corporate holder of ETH, says extensive its Ethereum treasury with 40,302 ETH on Monday, worth about $117 million. Total holdings now exceed 4.24 million ETH and account for 3.52% of all ETH in circulation.

The company also revealed that it has staked more than 2 million ETH, almost half of its Ethereum holdings, and converted a significant portion of its treasury into yield-yielding assets. BitMine’s rapid staking pace has increased pressure on the Ethereum network, pushing the wait time to become a new validator to 54 days as the popularity of staking on the blockchain grows.

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Corporate interest in Ethereum is generally on an upward trend. Bitwise observed that companies have purchased more than 1 million ETH, which is valued at approximately $3.5 billion. The number of publicly disclosed companies holding ETH has increased by 40%, and together these companies now account for approximately 5% of all Ethereum in circulation.