The Ethereum ecosystem has attracted a record number of users

Analytics company Santiment has recorded an unprecedented increase in the number of new wallets on the Ethereum network. During the period from January 24 to 25, the number of created addresses reached 206.29 thousand, which was the highest figure since October 2022, when the previous peak of user activity was observed.

It is noteworthy that such a significant influx of new participants occurs against the backdrop of volatility in the cryptocurrency market. Despite the instability of price indicators, interest in the Ethereum ecosystem is showing steady growth. Experts note that even in the context of prevailing bearish sentiment among traders and a decrease in the value of the digital asset, the number of new addresses continues to increase.

Experts associate the observed trend with the active development of decentralized finance and the growing popularity of staking. These areas are the key factors stimulating interest in the platform. Ethereum, which ranks second in market capitalization, maintains its leadership in the number of active wallets in daily terms.

The market situation is characterized by ambiguity. While the network demonstrates a significant increase in the user base, the dynamics of the ETH price remains restrained. Analysts suggest that this may be due to the higher profitability of alternative cryptocurrencies in recent weeks.

The mass creation of new wallets is regarded by experts as a positive indicator for the network. An increase in the number of participants contributes to increased liquidity and strengthening the long-term position of the digital asset. If the current dynamics are maintained, Ethereum can significantly expand its user base, which is especially important in the context of increasing competition in the market. An increase in the number of active users can have a positive impact on ETH quotes in the future.