Ethereum Sees Resurgence As New Wallet Creation Hits 8-Month High

Ethereum is witnessing a wave of renewed interest, reaching its highest level of new wallet creation in eight months.

December has seen an average of 130,200 new addresses generated daily on the network—a surge in activity not seen since April.

📈 Ethereum is seeing an 8-month high level of new wallets created. With an average of 130.2K addresses newly popping up on the network every day so far in December, ETH is seeing renewed interest it hasn’t seen since April. pic.twitter.com/sLPy8yeWtl

— Santiment (@santimentfeed) December 13, 2024

This growth is reflected in Ethereum’s on-chain metrics, which showcase the network’s strong momentum:

– Active addresses have risen by 4.24%, indicating increased usage.

– New address creation is up 2.65%, further underscoring heightened interest.

– Zero-balance addresses have dropped by 4.06%, signaling more wallets are actively holding ETH.

On-chain metrics for #Ethereum are looking strong this week:

– Active addresses up 4.24%
– New addresses up 2.65%
– Zero-balance addresses down 4.06%

Momentum is building for $ETH! pic.twitter.com/pR4exH76oO

— Ali (@ali_charts) December 14, 2024

Momentum continues to build for $ETH as it approaches a crucial support zone between $3,700 and $3,810. This level is particularly significant because 3 million wallets collectively acquired 4.6 million ETH in this range, establishing a solid foundation for price stability.

One of the most important support levels for #Ethereum currently is between $3,700 and $3,810, where 3 million wallets bought 4.6 million $ETH. pic.twitter.com/TBJ9x87Bxf

— Ali (@ali_charts) December 14, 2024

Ethereum Spot ETFs Recorded Notable Inflows 

Institutional interest in Ethereum is also on the rise. Ethereum spot ETFs have recorded consistent inflows for 15 straight days, with a total net inflow of $23.6 million reported yesterday alone. BlackRock’s Ethereum ETF (ETHA) accounted for $9.5 million of that total, emphasizing growing confidence from institutional players. The overall net asset value of Ethereum spot ETFs now stands at an impressive $13.78 billion.

Ethereum spot ETF had a total net inflow of $23.6072 million yesterday, continuing its net inflow for 15 consecutive days. BlackRock ETF ETHA had a single-day net inflow of $9.5069 million. The total net asset value of Ethereum spot ETF is $13.783 billion. https://t.co/Tvs2oCSxTg pic.twitter.com/eqxwY3vdII

— Wu Blockchain (@WuBlockchain) December 14, 2024

The surge in new wallets and robust on-chain activity reflect Ethereum’s enduring appeal and its pivotal role in the crypto ecosystem. Whether driven by retail users or institutions, this renewed enthusiasm suggests that Ethereum is positioning itself for further growth. As the network builds momentum and solidifies key support levels, all eyes are on $ETH to see how it performs in the coming months.

With strong fundamentals and increasing adoption, Ethereum’s future remains as promising as ever.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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