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Ethereum retained 8 million active users over the past 30 days, nearly double the 4 million recorded in the previous period, as daily transactions hit an all-time high of 2.8 million and network fees collapsed to multi-year lows.
The surge in sustained user activity, documented by blockchain analytics firm Glassnode, marks a fundamental shift in Ethereum’s growth profile—driven by first-time addresses rather than recycled wallet activity, suggesting genuine network expansion beyond speculative trading.
According to Glassnode, Ethereum activity retention jumped from just over 4 million addresses to around 8 million in a single month. The metric tracks whether users remain active beyond their first interaction, offering insight into whether network growth is sustainable or short-lived.
“Month-over-month ‘activity retention’ shows a sharp spike in the new cohort, indicating a surge in first-time interacting addresses over the past 30 days,” — Glassnode, blockchain analytics firm.
The firm added that the data suggests Ethereum’s rising usage is being driven by new participants rather than repeat activity from the same wallets. This trend is significant for Ethereum activity retention because long-term network value depends not only on attracting users, but on keeping them engaged.
Ethereum activity retention is increasingly viewed as a critical signal of network health, especially as competition intensifies among layer-1 and layer-2 blockchains. Analysts note that consistent retention reflects trust in the network’s infrastructure, cost efficiency, and real-world utility.
The increase in Ethereum activity retention has coincided with a sharp rise in overall network usage. Data from shows that active addresses on the Ethereum network have more than doubled over the past year, climbing from roughly 410,000 at the same time last year to over 1 million by Jan. 15.
At the same time, daily transactions surged to an all-time high of 2.8 million on Thursday, representing a 125% increase year-on-year. This expansion reinforces the idea that Ethereum activity retention is being supported by genuine growth in economic activity rather than speculative spikes.
Market analysts attribute much of this increase to stablecoin transfers and decentralized finance applications that rely on Ethereum’s settlement layer. As transaction fees fall, users appear more willing to stay active, further strengthening Ethereum activity retention metrics.
Macroeconomics-focused outlet Milk Road linked the surge in Ethereum activity retention and transaction volume to an explosion in stablecoin usage, paired with falling fees across the network.
“That’s the result of Ethereum pushing execution to L2s while keeping settlement secure on L1. That’s what scalable financial infrastructure actually looks like,” — Milk Road, in a Thursday report.
Ethereum’s strategy of shifting high-volume activity to layer-2 networks while preserving security on the base layer has reduced congestion and costs, making the network more attractive to new users.
Analysts say this architectural shift is a key driver behind improved Ethereum activity retention, as lower fees remove a major barrier to repeat usage.
Further data from Token Terminal shows stablecoin activity on Ethereum at an all-time high, while average transaction fees remain near historic lows — a combination that supports higher retention and sustained engagement.
Improving Ethereum activity retention has also fueled optimism among market watchers and institutional analysts. Justin d’Anethan, head of research at Arctic Digital, said sentiment around Ethereum is strengthening as on-chain indicators recover.
“There’s a lot to be optimistic about when looking at Ethereum,” — Justin d’Anethan, Head of Research, Arctic Digital.
He added that near-term indicators suggest renewed capital inflows into exchange-traded funds, stablecoins, and native crypto protocols, all of which reinforce Ethereum activity retention by expanding use cases beyond simple trading.
Nick Ruck, director of LVRG Research, also pointed to rising staking levels — now nearing 36 million ETH — as a sign of confidence in the network’s long-term outlook.
While Ethereum’s price briefly touched a two-month high of $3,400 before easing back to around $3,300, analysts argue that strong Ethereum activity retention could underpin further price stability.
All told, the data suggests Ethereum activity retention is becoming a defining metric for assessing the blockchain’s competitive position.
With daily transactions at record levels, new wallets flooding in, and scaling upgrades lowering costs, Ethereum appears to be converting short-term interest into sustained participation — a development that could shape its trajectory in the months ahead.
