Ethereum Hits 200K Daily Users, First Time Since 2022

Ethereum 's network has reached a pivotal point, with a recent surge in daily active addresses suggesting potential for price resurgence. Analysts are optimistic following this uptick.

On January 24 and 25, Ethereum experienced a notable rise in daily active addresses, surpassing 200,000—a level not achieved since October 2022. This significant growth highlights Ethereum's expanding role in decentralized finance (DeFi) and non-fungible tokens (NFTs), according to data from Glassnode.

The increase in daily active addresses is crucial for gauging Ethereum adoption, indicating heightened user interaction with decentralized apps (dApps) and DeFi platforms. The influx of new Ethereum addresses suggests increased market entry, potentially driven by recent price fluctuations, despite overall price declines. Historically, such periods of market volatility correlate with heightened activity on the network.

Ethereum addresses with non-zero balances have also been on the rise, reaching over 136 million by January 2025. This steady growth, despite falling prices, illustrates Ethereum’s durability and the network's acceptance extending beyond speculative trade towards substantial long-term interest.

The prevailing question is whether this user growth will translate into a price recovery for Ethereum. While the network sees increased engagement, Ethereum's price struggles to breach critical resistance levels. As of the latest data, ETH remains below its January 2025 peak, showing daily and weekly declines of 4.0% and 1.0%, respectively, trading at $3,203.

Market analysts suggest that as institutional and individual investor interest in Ethereum surges, driven by demand for ETH-powered applications, the price may see upward momentum.

Ethereum's price movements continue to be significantly affected by macroeconomic conditions, particularly the performance of Bitcoin and overall market sentiment. The cryptocurrency sector’s inherent volatility keeps traders cautious, with unexpected fluctuations being a key concern.

Nonetheless, if Ethereum maintains its trajectory of adoption and expands its active user base, there is potential for a sustained price increase.

The increase in Ethereum addresses observed on January 24 and 25 appears to be fueled by rising market volatility, which tends to attract more users. This demonstrates increasing engagement with DeFi and NFTs, suggesting long-term usage beyond mere speculative trading. Despite price reductions, the growing consumer interest indicates promising developments for the network.