Ethereum's network-growth metric has accelerated sharply this month, with new daily ETH addresses rising from 121,210 on August 8 to 212,560 on August 16, according to Santiment data. The increase represents roughly 75.4% growth in eight days and adds another signal that activity is returning to the network.

New-address creation measures the number of addresses appearing onchain for the first time rather than the number of unique people using Ethereum. A single user or automated system can control multiple addresses, so the metric is better read alongside active-address activity and other network indicators rather than as a direct count of new users. It is also a mainnet figure: much of the ecosystem's routine activity takes place on layer-2 rollups, which post their transaction data back to Ethereum's base chain, so total ecosystem usage spans more than the L1 address count captures.

Active Ethereum Addresses Approach One Million

The rise in new addresses follows another sharp increase in Ethereum usage. Santiment recently recorded 989,500 active addresses over a 24-hour period, the network's highest daily activity since March.

The combination of rising active addresses and faster wallet creation points to broader participation across Ethereum at a time when ETH price performance has remained comparatively restrained. Active-address counts measure wallets sending or receiving transactions, while network growth tracks addresses interacting with the chain for the first time.

The current expansion also comes as institutional ETH activity remains elevated. U.S. spot Ether ETFs, which began trading in July 2024, absorbed $244.94 million between August 3 and August 7, extending their positive weekly run to five consecutive weeks.

New Wallet Growth Remains Below January Record

August's acceleration has not yet returned Ethereum to the record wallet-creation levels reached earlier this year. Santiment recorded an average of 327,100 new ETH wallets per day during a January surge, including a single-day record of 393,600 addresses.

That January expansion coincided with heavier stablecoin activity and lower network costs following Ethereum's Fusaka upgrade. Santiment linked the period to increased use of Ethereum applications, rollups, DeFi products and other onchain services.

The latest 212,560 reading therefore represents a rapid rebound from early-August levels without yet approaching Ethereum's January peak.

Ethereum Demand Expands Beyond Onchain Users

Corporate Ethereum accumulation has developed alongside the network's user activity. BitMine Immersion Technologies had already expanded its treasury to 5.7 million ETH, with more than 4.87 million ETH staked through its treasury and validator strategy, a position that ranks among the largest corporate ETH treasuries.

Network growth alone does not establish the direction of ETH's next price move. Previous periods of accelerating address creation have coincided with stronger demand, but wallet creation can also rise without an immediate price response.

The checkpoints that follow from the data are observable rather than predictive: whether daily active addresses cross the one-million level they approached this month, whether new-address creation holds above its early-August pace and narrows the gap to January's 327,100-per-day average, and whether the spot Ether ETF inflow streak extends beyond five consecutive weeks.

Ethereum entered August 16 with 212,560 new daily addresses, up 91,350 from the August 8 reading and still below the record wallet-creation pace established in January.

Source: Crypto Adventure