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Ethereum wallet creation has surged to record levels following a mix of network upgrades, stablecoin activity and improving crypto sentiment.
An average of 327,000 new wallets were created each day over the past week, according to Santiment analysts.
Sunday recorded the highest single-day figure on record, with more than 393,000 new wallets created.
Analysts said rising wallet numbers often indicate new users, developers or institutions entering the ecosystem.
The total number of non-empty Ethereum wallets has climbed to a new all-time high of 172.9 million.
Ether rose about 7.5% in the past 24 hours, trading around $3,330 after moving between $3,068 and $3,292 over the last week.
Santiment said the Fusaka upgrade in December helped lower fees and made interacting with the network easier.
This reduced fees and made interacting with apps and rollups smoother, encouraging many new users to open wallets.
Santiment analysts said.
Analysts also pointed to a shift in market sentiment from negative to neutral and positive in mid-December.
This often coincides with more retail users signing up and creating addresses.
Santiment said.
Interest in decentralised finance, non-fungible tokens and other applications increased toward the end of the year.
A spike in stablecoin transfers in late 2025 suggested Ethereum was being actively used for payments and settlements.
This kind of real financial activity tends to bring in new participants who create wallets.
Santiment said.
More than half of Ether’s total supply is now locked in staking contracts, according to on-chain data.
The ETH2 Beacon Deposit Contract holds more than 77 million tokens securing the network.
Binance holds nearly four million Ether on behalf of users, while Coinbase holds about 2.3 million.
At the time of reporting, Ethereum price was $3,327.09.