Ethereum sees record wallet growth as network upgrades and stablecoin usage drive adoption

Brenda Mary3 mins
Ethereum wallet growth and stablecoin activity surging after the Fusaka network upgrade.

Ethereum activity is rising sharply as broader participation takes hold across the network. Recent on-chain trends point to growing utility rather than speculative interest. 

Network upgrades and expanding payment use cases continue to reshape user behavior. Together, these developments highlight a structural shift in Ethereum adoption.

Fusaka upgrade expands Ethereum network access

Data published by blockchain analytics firm Santiment shows Ethereum averaged 327,100 new wallets per day over the past week. 

Santiment reported that Sunday recorded 393,600 new wallet addresses, the highest daily total in the network’s history. The firm said the consistency of the figures signals sustained user onboarding.

Santiment linked the growth to Ethereum’s Fusaka upgrade, which went live in December 2025. 

The protocol update improved data handling and reduced costs for Layer-2 networks submitting transaction data to the main chain. 

These changes lowered transaction fees for users interacting with decentralized applications.

Santiment noted that reduced Layer-2 fees removed a key barrier for new participants. High costs had previously discouraged everyday usage across DeFi platforms and rollup-based services. 

Lower expenses now allow users to execute transactions more frequently and at smaller values.

Network data reviewed by Santiment also pointed to improved usability. 

Faster data processing supported smoother interactions across applications. 

The firm said these conditions improved onboarding for users who previously found Ethereum difficult or costly to use.

Stablecoin transfer volume highlights practical usage

Ethereum’s stablecoin activity reached record levels during the fourth quarter of 2025. 

On-chain figures tracked by Santiment show approximately $8 trillion in stablecoin transfers during the period. 

The data indicates strong demand for settlement and payment activity on the network.

Santiment stated that stablecoins now account for a significant share of Ethereum transaction volume. 

Users increasingly rely on dollar-pegged tokens for sending, receiving, and storing value. This use case attracted new wallet holders focused on financial utility rather than price speculation.

The firm also observed increased participation from both retail and institutional users. 

Stablecoin flows reflected consistent transaction sizes and repeated usage patterns. These signals supported the view that Ethereum serves as a core infrastructure layer for digital payments.

Sentiment metrics tracked by Santiment shifted from negative to neutral in mid-December. 

The change coincided with rising wallet creation and stablecoin usage. Santiment said the timing suggests improving confidence following the Fusaka upgrade.

Santiment noted that year-end planning often drives network activity as users prepare strategies for the coming year. 

Combined with lower costs and high stablecoin demand, these conditions supported Ethereum’s record wallet growth.

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