Ethereum Network Sees Surge in Activity Following Fusaka Upgrade

According to ChainCatcher, Ethereum network activity has significantly increased since the Fusaka upgrade on December 3, 2025. Data indicates that the number of new addresses has risen by approximately 110%, with around 292,000 new addresses being added daily. Analysts suggest this highlights an accelerated rate of user adoption, influenced by both seasonal factors and structural upgrades. Additionally, the HODL Waves indicator reveals a rise in the number of mid-term holders who have retained Ethereum for three to six months. Many of these investors entered the market between July and October 2025. Those who invested in early July have seen profits, while those who entered after mid-July are still experiencing losses. A price increase could potentially lead to a sell-off by these holders.