- Ethereum price has seen a bullish breakout from the resistance trendline of a 60-day consolidating triangle pattern.
- Ethereum experienced its highest-ever spike in daily wallet creations in January 2026.
- Ethereum The price moving above the 20-day, 50-day, and 100-day exponential moving averages indicates that bullish momentum is returning.
Ethereum, the second-largest cryptocurrency by market capitalization, surged more than 7.5% during Tuesday's U.S. market hours to $3,318. Strong buying pressure is spreading across the crypto market following the recently released US CPI data for December 2025. However, Ethereum's price gained further momentum as the network's new growth wallet reached an all-time high.
Here are the main reasons that push the creation of new Ethereum wallets to new milestones:
Ethereum New wallets reach historic highs, network activity surges
Ethereum, a layer 1 blockchain, saw a new high in the number of addresses created on a daily basis in January 2026, and a significant increase in new user adoption. According to Santiment's analysis, the seven-day average for the number of new wallets is over 327,000, with 393,600 new addresses added on one Sunday alone. This is an all-time high tracked on a daily basis. This increased the total amount of non-empty ones. Ethereum-The number of wallets held has reached an all-time high of 172.97 million.
Several developments appear to be the basis for this rapid growth. The Fusaka network upgrade, which took effect on December 3, 2025, brought several important optimizations, including PeerDAS for efficient data availability sampling. This update improves the way data is processed on-chain, reducing the cost of sending information from the Layer 2 network to Ethereum, curbing interesting low-fee transactions, and making it easier to interact with apps and rollups.
Additionally, Ethereum has strengthened its real-world utility with the stablecoin movement. More than $8 trillion was transferred on the network in the final quarter of 2025, nearly double the amount from the second quarter and a new quarterly record. With stablecoin issuance increasing 43% annually (from approximately $127 billion to $181 billion), the explosion in on-site payments and settlements has attracted participants to set up wallets dedicated to managing these assets.
From late December, Ethereum's price traded within a relatively narrow range, and data from the chain and discussion from the community painted a complete picture of the influx of first-time users. Many people seem to want to experiment with decentralized financial protocols, non-fungible tokens, gaming platforms, and other ecosystem features.
EthereumNew wallet creations hit a new all-time high, also acknowledging a shift in normal year-end behavior in the cryptocurrency space. On-chain data highlights a notable shift in market sentiment from negative to neutral/positive in mid-December. The strategies that retailers have adjusted for the new year often drive the creation of new addresses.
Ethereum price makes decisive breakout after two months of decline
Over the past two months, Ethereum price has shown a sideways trend, resonating with two converging trend lines. These slopes act as dynamic resistance, Ethereum Traders revealed the formation of a symmetrical triangle pattern.
Chart setups are commonly seen during established trends as they provide a temporary hold for market participants to regain prevailing momentum. However, with today's market rally, Ethereum price is showing a bullish breakout from the pattern's resistance trendline at $3,260.
If this breakout holds and a follow-up is provided by retracing the 200-day exponential moving average, Ethereum price could witness an accelerated recovery. A post-breakout rally could push the price to $3,700 as a retest of the next major resistance level.
Conversely, if buyers fail to break through the resistance, Ethereum The price may quickly fall to the trend line below the triangle.
