Ethereum adds about 292,000 daily new addresses after Fusaka upgrade

Beincrypto reports that Ethereum’s new-holder count has risen about 110% since the Fusaka upgrade, which went live on December 3, with the network now adding roughly 292,000 new addresses per day.

Network activity expanded rapidly over the past three weeks, driven by first-time wallets interacting with ETH. The surge has been linked to seasonal factors such as Christmas 2025 and New Year positioning, as well as optimism around Fusaka’s aims to improve scalability and lower Layer 2 costs. Rising address creation often precedes greater transaction demand and can deepen liquidity.

On-chain metrics show growing mid-term holdings—wallets holding ETH for three to six months—largely from positions taken between July and October 2025. Early July buyers are in profit while those who entered after mid-July remain underwater, producing a forced-hold dynamic that can reduce selling pressure but may increase distribution risk as prices recover.

Price action places ETH near $3,141 at the upper boundary of a descending wedge that projects a theoretical upside of about 29.5% to $4,061, though a nearer target range would see a breakout past $3,287 toward $3,447. The report cautions a successful breakout would require stronger buying pressure and that failure could push ETH back below $3,000 to retest $2,902, while it remains unclear whether fresh capital will offset potential profit-taking.

Key Topics

Crypto, Ethereum, Fusaka Upgrade, Glassnode, Hodl Waves, Descending Wedge