Ethereum is attracting a growing wave of new users, and they’re not just passing through. On-chain data from analytics firm Glassnode shows that activity retention among new users has nearly doubled over the past month, suggesting stronger and more sustained engagement across the network.
Key Takeaways:
Ethereum is seeing a sharp increase in new users, with both activity retention and new active addresses almost doubling in the past month.
Daily transaction volumes have hit record highs as active addresses continue to rise year over year.
Lower transaction fees and booming stablecoin usage are helping fuel long-term network growth.
Glassnode noted a strong jump in first-time wallet interactions over the past 30 days, pointing to genuinely new users entering the ecosystem rather than existing participants driving most of the recent activity.
The firm added that month-over-month activity retention among these new users has surged, indicating that fresh wallets are continuing to use Ethereum instead of dropping off after their first interaction.
Network Activity Gains Momentum
Ethereum’s network activity has accelerated alongside the rise in new users. New active addresses have climbed from just over 4 million to around 8 million in just one month.
Activity retention, which measures whether users stay engaged over time, is often seen as a key indicator of sustainable growth rather than short-lived bursts of activity.
Longer-term data tells a similar story. According to Etherscan, the number of active Ethereum addresses has more than doubled over the past year, rising from roughly 410,000 to over 1 million.
Transaction activity has followed suit. Daily transaction counts recently reached a record 2.8 million—about 125% higher than levels seen a year ago.
Lower Fees and Stablecoins Drive Usage
Analysts say much of this growth is being driven by lower transaction costs and rising stablecoin adoption. Crypto research outlet Milk Road pointed out that Ethereum’s shift toward executing transactions on layer-2 networks, while keeping settlement on the main chain, has helped reduce fees without sacrificing security.
That balance has made Ethereum more practical for everyday use, especially for payments and decentralized finance.
Supporting this trend, data from Token Terminal shows stablecoin activity on Ethereum hitting all-time highs at the same time transaction fees have dropped to multi-year lows.
Together, these factors appear to be encouraging users to interact with the network more frequently and consistently.
Market Sentiment Improves
The stronger on-chain metrics are also shaping market sentiment. Ether recently climbed to a two-month high near $3,400 before pulling back to around $3,300 in early Friday trading, as investors assess whether the surge in network activity can support a sustained price move.
Buterin: Ethereum Has Solved the Trilemma
Last week, Ethereum co-founder Vitalik Buterin claimed the network has effectively solved the long-standing blockchain trilemma—balancing decentralization, security, and scalability.
He said recent and upcoming upgrades have aligned all three through technology already live in production. Key developments include peer data availability sampling (PeerDAS) and zero-knowledge Ethereum virtual machines (zkEVMs).
At the same time, Ethereum’s staking landscape has shifted, with validator exits slowing and new capital flowing back into long-term staking—signaling renewed confidence among large Ether holders.
