The Ethereum network is currently experiencing a significant surge in activity, with the number of daily transactions hitting a historic peak of 2.8 million. This represents an impressive 125% increase compared to the same timeframe last year. The rise in transactions coincides with a near doubling of active addresses on the platform, which have jumped from just over 4 million to approximately 8 million within the past month.
Data from Glassnode illustrates a remarkable uptick in user engagement, particularly among new users. The analytics platform highlights that the “New” cohort of addresses has shown a sharp increase, indicating a wave of first-time users interacting with the Ethereum network. This trend points to a healthy influx of fresh wallets, rather than merely existing users ramping up their activity.
In conjunction with rising transaction volumes, stablecoin usage on Ethereum has reached unprecedented levels. Remarkably, transaction fees have plummeted to historic lows, a development attributed to the effectiveness of Ethereum”s Layer 2 scaling solutions, which enhance transaction efficiency while maintaining security on Layer 1.
Staking on the Ethereum network has also achieved a new milestone, with over 36 million ETH currently staked. This figure represents nearly 30% of the total supply, and the number of active validators has grown to 976,117. Additionally, there are approximately 2.3 million ETH awaiting staking, reflecting solid confidence in the network”s future.
Investment interest in Ethereum is further evidenced by recent developments in exchange-traded funds (ETFs). On January 14, U.S. spot Ethereum ETFs recorded net inflows of $175 million, a positive sign for market sentiment. This follows a trend of four consecutive days of net inflows, with positive momentum also observed in Bitcoin ETFs.
The overall market sentiment has shifted towards “Greed,” as indicated by the Crypto Fear & Greed Index, which has not reached this level since October 2023. Analysts, including Justin d”Anethan from Arctic Digital, express optimism regarding Ethereum”s future, pointing to indicators of oversold conditions and renewed capital inflows across various sectors.
As for the price of Ethereum, it recently climbed to $3,365, marking a 14% increase at the start of 2026. The asset briefly touched $3,400 for the first time since November 2025. Technical indicators suggest that ETH is nearing overbought territory, with the Relative Strength Index at 66.24 and the Chaikin Money Flow indicator indicating positive capital inflow.
Ethereum has successfully breached critical resistance levels at $3,300 and $3,500, with analysts now eyeing a potential target of $4,000, which would represent an additional 20% gain from current levels. The combination of increased network activity, institutional investment, and favorable market conditions paints a promising picture for Ethereum as it continues to evolve in the competitive cryptocurrency landscape.
