Ethereum is experiencing its fastest pace of wallet creation on record, driven by a rare alignment of protocol upgrades, rising stablecoin usage, and improving crypto market sentiment.On average, 327,000 new Ethereum wallets were created per day over the past week, marking the highest sustained growth rate in the network’s history, according to data shared by Santiment. Sunday alone recorded more than 393,000 new wallets, the largest single-day increase ever observed.Key takeawaysEthereum wallet creation hit an all-time high, averaging 327,000 new wallets per dayNon-empty ETH wallets reached a record 172.9 millionAnalysts point to protocol upgrades, stablecoin usage, and sentiment recovery as key driversMore than half of Ether’s total supply is now stakedWallet growth signals expanding Ethereum participationNew wallet creation is often viewed as an early indicator of ecosystem expansion, signaling that new users, developers, or institutions are entering the network.Alongside the surge in new addresses, the number of non-empty Ethereum wallets climbed to 172.9 million, another all-time high, reinforcing the view that growth is being driven by active participation rather than idle address creation.Ether (ETH) traded near $3,330, up roughly 7.5% over the past 24 hours, after moving within a $3,068–$3,292 range over the past week, according to market data.Protocol upgrades lower friction for usersSantiment analysts attributed part of the wallet surge to Ethereum’s Fusaka upgrade, deployed in December, which improved on-chain data handling and reduced costs associated with posting data from layer-2 networks back to Ethereum.The upgrade lowered transaction fees and reduced friction when interacting with decentralized applications and rollups.“Making Ethereum cheaper and easier to use tends to encourage new users to open wallets and start interacting with the network,” Santiment analysts noted.Stablecoin activity and sentiment shift add momentumBeyond protocol-level changes, Ethereum appears to be benefiting from a broader shift in crypto sentiment. According to Santiment, holder sentiment moved from negative toward neutral and positive in mid-December, a transition that historically coincides with increased retail onboarding.At the same time, Ethereum saw a notable increase in stablecoin transfer activity in late 2025, reflecting higher real-world usage for payments and settlement.“This kind of genuine financial activity tends to attract new participants who create wallets to send, receive, or hold stablecoins and other assets,” the analysts said.The combination of improving sentiment and rising transactional demand may be reinforcing wallet growth as users explore DeFi, NFTs, and other Ethereum-based applications.More than half of Ether supply now stakedEthereum’s long-term security participation continues to deepen. According to Nansen, more than 50% of Ether’s total supply is now locked in staking contracts.The Ethereum Beacon Deposit Contract alone holds over 77 million ETH, representing validator deposits securing the network.Centralized exchanges also remain significant custodians. Binance holds close to 4 million ETH on behalf of users, while Coinbase custody wallets contain roughly 2.3 million ETH.usage recovery may matter more than priceWhile ETH price action remains closely tied to broader market conditions, the surge in wallet creation suggests expanding on-chain engagement at a foundational level.Analysts caution that sustained growth will depend on whether decentralized application usage continues to recover and whether macroeconomic uncertainty eases. Still, the current data points to renewed activity rather than speculative churn.
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