Daily creation of Ethereum wallets jumps 31% as network activity recovers

Source: Yellow Original Title: Daily creation of Ethereum wallets jumps 31% as network activity recovers

Original Link: Ethereum (ETH) shows signs of recovery in its network activity after months of decline, with the creation of new wallets soaring to levels not seen since July.

The second-largest blockchain by market capitalization is now averaging 163,000 new addresses daily in December, up from 124,000 in July, according to analysis platform Santiment.

This rebound occurs while ETH trades around $3,950, still below the psychological level of $4,000 and far from its all-time high near $5,000.

What happened

Network activity on Ethereum hit annual lows in recent weeks, with active sender addresses dropping to approximately 170,000, a metric historically associated with lower retail participation.

But the trend sharply reversed in early December.

On December 2, the creation of new wallets jumped to over 197,000 addresses.

By December 15, the figure exceeded 195,000.

These levels surpass July peaks that preceded the previous ETH rally toward $5,000.

Data suggests a possible exhaustion of sellers and renewed demand, patterns often observed before price reversals.

Why it matters

The creation of new wallets serves as an indicator of network adoption and retail interest in crypto markets.

The December rebound could signal new capital entering the Ethereum ecosystem after months of stagnation.

However, price action remains lukewarm.

ETH briefly dipped below $3,900 earlier this week before recovering to current levels.

Some analysts remain bullish despite the weak price behavior.

Trader Merlijn The Trader compared the situation to Ethereum’s accumulation phase between 2015 and 2018, projecting a possible rally in the ETH/BTC ratio from current levels near 0.03 to 0.12.

Another analyst, known as CW, predicted a move toward $3,700 after what he described as a trend reversal.

It remains uncertain whether wallet growth will translate into sustained price momentum.

Network activity alone does not guarantee bullish outcomes, especially in volatile crypto markets where sentiment can change rapidly.

For now, Ethereum’s on-chain metrics tell a story of renewed interest, even if the market has not yet fully reflected this in the price.