Ethereum attracts new users — and this might say something important about ETH

Source: PortaldoBitcoin Original Title: Ethereum attracts new users — and this may say something important about ETH Original Link: Ethereum’s network has once again seen a significant increase in activity in recent weeks, driven mainly by the entry of new users, rather than more intense use by existing participants.

Monthly retention data shows a sharp jump in the group classified as “new,” an indicator that tracks wallets that made their first recorded interaction with the blockchain during a specific period.

The progress observed in the last month stands out compared to previous months and suggests a renewal movement in the Ethereum user base. This detail is considered relevant because on-chain activity peaks do not always indicate broader adoption. In many cases, especially during periods of higher volatility, the increase in transactions simply reflects the same users moving funds more frequently.

When growth is led by new wallets, however, it signals a broader interest in the Ethereum ecosystem.

This new flow of participants may be linked to different uses of the network, such as decentralized finance applications (DeFi), stablecoin transfers, NFT trading, or interaction with newer applications built on Ethereum’s infrastructure. The movement occurs at a time when ether, the network’s native cryptocurrency, has stabilized around the US$3,300 level, while the overall sentiment in the cryptocurrency market has improved after a 2025 end marked by high volatility.

Historically, activity on the network tends to react with some delay to price fluctuations, as new users need time to create wallets, transfer resources, and familiarize themselves with available applications. Therefore, the recent acceleration in the number of new addresses is often seen as a more structural indicator rather than purely short-term speculative movements.

In previous cycles, sustained growth periods of new wallets on Ethereum coincided with phases where network usage expanded beyond a small group of more active or specialized users. Although this type of data does not guarantee an increase in the asset’s price, it is usually interpreted as a sign of healthier engagement, in contrast to rises mainly driven by leverage or short-term trading.

The current point of concern is the permanence of these new participants. If the data in the coming months show improvement in retention, meaning if wallets that recently entered continue to transact and use network applications, the movement could indicate a more lasting recovery of activity on Ethereum. On the other hand, if participation drops quickly, the peak may be only temporary, associated with a specific moment of market optimism.