Ethereum New Addresses Surge 110% Since Fusaka Upgrade, Adding 292,000 Wallets Daily

Ethereum has experienced a significant rise in on-chain user activity following the deployment of the Fusaka upgrade in early December. In the last month, the creation of new addresses has increased by 110%. According to data from Glassnode, the network is now generating about 292,000 new addresses each day, representing the fastest rate of wallet growth since the 2024 bull market.

Key Takeaways

Ethereum's new address creation increased by 110% since the Fusaka upgrade.
Approximately 292,000 new wallets are being added daily.
The Fusaka upgrade enhances data availability and lowers Layer 2 operational costs.
Sustained wallet growth suggests increased user adoption and network activity.
Ethereum's price is reacting positively as network fundamentals improve.

Ethereum New Addresses Up 110% Since Fusaka Upgrade, Adding 292,000 Wallets Daily

This surge follows the December 3 launch of the Fusaka (Fulu-Osaka) upgrade, intended to enhance data availability and reduce Layer 2 costs. Market observers indicate that the sustained rise in new wallets signals a trend of structural adoption rather than just temporary speculative activity.

Fusaka Upgrade Fuels Increase in Ethereum Activity

The Fusaka upgrade introduced a critical feature known as Peer Data Availability Sampling (PeerDAS), which aims to decrease the costs of posting data to the Ethereum network. This upgrade is particularly beneficial for Layer 2 networks, as it lowers operational costs and enhances scalability, making it easier and cheaper for users and applications to engage with the Ethereum ecosystem.

Since the implementation of this upgrade, the rate of address creation on Ethereum has been steadily rising. New addresses grew through December and into early January, reaching levels not seen since the last expansion phase of the previous cycle.

Analysts point out that reducing friction in Layer 2 typically results in increased onboarding activity, especially among DeFi, gaming, and consumer-based applications. While not every new address corresponds to a long-term user, the ongoing growth at this magnitude is generally perceived as a favorable indicator of the increased use of the network.

New Address Growth Indicates Broader Adoption of Ethereum

Historically, an increase in new address creation has been a precursor to rises in transaction volume and liquidity on Ethereum. The current trend indicates a resurgence in network participation, driven by infrastructure enhancements rather than merely isolated market events.

The Fusaka upgrade was executed smoothly and without causing chain instability or network disruptions, an event closely monitored by institutional investors. Ethereum’s capacity to implement a complex upgrade with ease has alleviated concerns regarding roadmap risks, particularly as the network continues to depend on Layer 2 scaling solutions.

ETH Price Reflects Positive On-Chain Metrics

As network fundamentals improve, Ethereum's price has begun to respond positively. ETH recently climbed back to the $3,200 mark, gaining traction as new wallet growth accelerated alongside an improvement in overall market sentiment.

However, on-chain supply metrics hint at possible resistance in the future. Glassnode reports that a substantial amount of ETH is held by investors who bought in between July and October 2025. Many of these holders are currently at break-even positions, which may introduce selling pressure if prices continue to rise.

Key Test for Adoption Trends in Q1 2026

Market participants are now closely monitoring whether the heightened rate of address creation will lead to sustained demand for transactions and Layer 2 services. Continued growth in wallet activity, coupled with stable or declining fees, would bolster the argument that Ethereum's adoption surge post-Fusaka is indeed organic.

At this moment, the data clearly suggests a significant shift: Ethereum is witnessing its strongest rate of user onboarding in over a year, reinforcing the belief that protocol enhancements—rather than speculative trends—are driving the renewed growth of the network.