Ethereum’s Wallet Growth Reaches All-Time High – Could This Propel ETH by 13.8%?

Ethereum is experiencing a significant increase in new wallet creations, reaching all-time highs amidst a market recovery. The bullish sentiment is further supported by staked ETH assets and rising trading volumes. Analysts believe that these trends may lead to a price surge of up to 13.8% for ETH.

Key Takeaways

Ethereum's new wallet creations reached a record 393.6K on January 11, 2026.
Bitmine staked 186,560 ETH recently, totaling 1.53 million ETH staked assets.
ETH price could jump by 13.8% if it breaks the resistance level of $3,340.
Current trading sentiment favors long positions over shorts.

Ethereum Network Growth

As the cryptocurrency market recovers, Ethereum stands out with a notable increase in network activity. Recently, on-chain analytics platform Santiment reported that Ethereum's new wallet creations reached an all-time high of 393.6K wallets on January 11. In the past week, Ethereum has averaged an impressive 327.1K new wallets created daily. This surge signals a growing wave of investors joining the Ethereum network, indicating increased user adoption and network activity, which supports a bullish outlook for the future.

Experts suggest that consistent wallet growth often occurs when investors are optimistic about long-term price increases.

Ethereum's wallet growth hits ATH - This can help ETH jump 13.8%

Continued Strength with Bitmine’s ETH Staking

An additional factor adding to this optimistic perspective is Bitmine's ongoing ETH staking, reinforcing the bullish narrative. According to data from crypto transaction tracker Onchain Lens, Bitmine staked a significant amount of 186,560 ETH, valued at about $607.27 million in the last 24 hours. This brings their total staked ETH to 1.53 million, worth around $5.1 billion.

In the crypto realm, an increase in staking typically reflects growing confidence among investors, as they choose to lock up their assets for longer periods rather than selling. This strategy not only decreases the circulating supply but also indicates that investors expect favorable conditions in the future.

On January 14, ETH experienced a price increase of 6.50%, elevating its value to a key mark of $3,330, accompanied by a spike in trading activity—volume surged by 90% to $34.18 billion.

Ethereum (ETH) Price Action

Source: TradingView

Ethereum Price Levels and Movement

Technical analysis from AMBCrypto on the daily chart highlighted that ETH has reached a crucial resistance level at $3,340, which has historically been a site of significant price reversals. If ETH can successfully break through this resistance, analysts predict a potential price bump of 13.80%, possibly pushing it up to the $3,800 mark in the following days.

However, if the momentum wanes and ETH fails to maintain a daily close above the $3,340 threshold, it could lead to a sharp price retracement. For the bullish outlook to remain valid, ETH must clear this resistance; otherwise, it may signal the end of the upward trend.

Currently, ETH is trading above the 50-day Exponential Moving Average (EMA), showcasing a shift towards bullish short-term momentum. However, the Average Directional Index (ADX), which gauges the strength of a trend, stands at 24.81—just below the critical level of 25—indicating weaker directionality.

Key Liquidation Levels to Monitor

Adding to this positive sentiment, derivative tool CoinGlass indicates that traders are leaning towards long positions rather than short ones. Traders are particularly interested in key levels of $3,296.3 (support) and $3,362.8 (resistance). At these points, long-leveraged positions amount to $446.31 million, compared to $249.48 million in short-leveraged positions, suggesting a favored bullish sentiment in the short term.

ETH Exchange Liquidation Map

Source: CoinGlass

Final Thoughts

In summary, Ethereum's wallet growth, the substantial staking by Bitmine, and favorable trading sentiment create a promising outlook. Should ETH successfully clear its resistance levels, we may see a positive price shift in the near future. Investors are advised to remain vigilant as these developments unfold in the ever-dynamic world of cryptocurrency.