Ethereum, the second-largest cryptocurrency by market capitalization, has captured the spotlight after a significant price surge of over 7.5% during a single trading session. On Tuesday, Ethereum reached $3,318, driven by a combination of strong buying pressure across the crypto market and critical updates within its blockchain network. Let’s explore the reasons behind this remarkable growth that has pushed Ethereum wallet creation to new heights.
Unprecedented Wallet Growth: Ethereum Sets a New Milestone
Recent analytics from Santiment reveal that Ethereum has witnessed an unprecedented increase in new wallet creation. In January 2026, the 7-day average number of newly created wallets surpassed 327,000, with a single-day record of 393,600 new addresses added. This growth pushed the total number of non-empty ETH wallets to an all-time high of 172.97 million.
Several contributors fueled this growth:
- Fusaka Network Upgrade: Launched on December 3, 2025, this upgrade introduced crucial improvements such as PeerDAS, enabling efficient data sampling and reducing data-related costs. This advancement cuts transaction fees, enhances network performance, and boosts usability, attracting more users.
- Growth in Stablecoin Utility: Ethereum has solidified its real-life use cases, particularly in stablecoin transactions. Transfer volumes on the Ethereum network surged to over $8 trillion in Q4 2025, nearly double the Q2 volume. This was reinforced by a 43% annual growth in stablecoin issuance, highlighting Ethereum’s role as a financial powerhouse within the crypto ecosystem.
- DeFi and NFT Adoption: The influx of first-time users exploring decentralized finance (DeFi) platforms, non-fungible tokens (NFTs), gaming platforms, and other Ethereum-based applications also contributed significantly to wallet growth.
Ethereum Price Technical Analysis: Following a Bullish Trend
Ethereum’s price movement has also reflected growing market positivity. Over the past two months, ETH traded in a tight range, forming a symmetrical triangle pattern on its price chart. This pattern, often indicative of a potential breakout, saw Ethereum’s price break past the $3,260 resistance trendline on Tuesday. If this bullish breakout persists and Ethereum reclaims the 200-day exponential moving average, analysts predict a possible rally towards $3,700, the next key resistance level.
However, traders should remain cautious. If Ethereum fails to sustain this breakout, the price may revert to the lower trendline of the symmetrical triangle, indicating potential near-term volatility.
Why Now Is a Great Time to Explore Ethereum
With Ethereum demonstrating strong growth in both price and utility, now is a great time to explore opportunities within its ecosystem. Whether you’re diving into DeFi projects, NFTs, or exploring Ethereum as a long-term investment option, there’s never been a better time to participate in the network’s evolution.
For those looking to navigate Ethereum’s vibrant ecosystem, a secure and user-friendly hardware wallet is essential for storing digital assets. Consider using the Ledger Nano X, one of the industry-leading hardware wallets, to keep your Ethereum and related tokens safe. Its robust security features and easy management tools make it a trusted choice for crypto investors.
Final Thoughts
As Ethereum continues to innovate and adapt to the needs of its growing user base, its network upgrades and real-world utility ensure its position as a major player in the blockchain space. The combination of rising new wallet creation, expanding stablecoin transaction volumes, and continual technical improvements underscores Ethereum’s momentum heading into 2026. Whether you are a seasoned investor or a blockchain beginner, Ethereum’s ecosystem offers diverse opportunities worth exploring now.
