Data: Since the Fusaka upgrade in December, the number of new Ethereum addresses has increased by 110%, with approximately 292,000 new addresses added daily

According to Beincrypto, since the Fusaka upgrade on December 3, 2025, Ethereum network activity has rapidly increased. Data shows that the number of new addresses has grown by approximately 110%, with about 292,000 new addresses created daily. Analysis indicates that this highlights an accelerated growth in user adoption, reflecting the combined effects of seasonal factors and structural upgrades.

Additionally, the HODL Waves metric shows an increase in the number of medium-term holders who have held Ethereum for three to six months. Most of these investors entered the market between July and October 2025, with those who entered in early July currently in profit, while those who entered after mid-July are still at a loss. A price increase could trigger sell-offs from these holders.