Ethereum Surges 7.2% to $3,300 as Record Wallet Creation Signals Growing Network Adoption
Ethereum is experiencing a significant price rally, currently trading around $3,300 with a 7.2% gain over the past 24 hours. The blockchain
Quick overview
- Ethereum is currently trading around $3,300, experiencing a 7.2% gain in the last 24 hours.
- The network has seen a record increase in wallet creation, with over 393,000 wallets created in a single day, reaching a total of 172.9 million non-empty wallets.
- Despite positive developments, Ethereum faces challenges such as decreased network usage and increasing competition from other blockchains.
- Technical indicators suggest cautious optimism, with support levels at $3,300 and $3,250, while the path to $4,000 remains uncertain.
Ethereum ETH/USD is experiencing a significant price rally, currently trading around $3,300 with a 7.2% gain over the past 24 hours. The blockchain saw its highest-ever rate of new wallet creation, which shows that people are still interested in the ecosystem even though there are still problems with network utilization and competition from other chains.
Historic Wallet Growth Driven by Protocol Upgrades and Stablecoin Activity
Over the past week, the Ethereum network has seen an amazing increase in the number of users, with an average of 327,000 new wallets created per day. On Sunday, more than 393,000 wallets were made in a single day, bringing the total number of non-empty Ethereum wallets to an all-time high of 172.9 million.
There seem to be a number of reasons for this rise in the number of wallets being made. The Fusaka upgrade that went live in December made Ethereum more cheaper to use by making it easier to handle on-chain data and lowering the costs for layer-2 networks that send information back to the mainnet. Santiment analysts say that these changes have made it easier to use applications and rollups, which has brought in new users to the ecosystem.
Also, a rise in stablecoin transfers on Ethereum in late 2025 shows that the network is being utilized for genuine financial operations, such as payments and settlements. This useful feature has drawn in new users who make wallets just to send, receive, or hold stablecoins and other tokens. In mid-December, the mood of holders changed from negative to neutral and then to positive. This also led to more retail activity.
ETH/USD Technical Analysis: Consolidation Above Key Support Levels
Ethereum has broken over a major bearish trend line, with resistance at $3,140. It has since rallied past the $3,200 and $3,300 levels to reach a recent high of $3,374. The price is holding steady above $3,300 and the 100-hourly Simple Moving Average, which shows that there is significant support at these levels.
If bulls can hold the $3,300 zone and the 23.6% Fibonacci retracement level from the latest swing low of $3,061 to the high of $3,374, Ethereum could go up much further. The first important level of resistance is at $3,380, and the next one is at $3,340. If ETH breaks above $3,420, it might quickly rise to $3,500 and maybe even $3,550 to $3,650.
But technical signs say to be careful. The hourly MACD is losing steam in the bullish zone, but the RSI is still over 50, which means the market hasn’t become too hot yet. On the downside, the first level of support is $3,300, and the second level is $3,250. If the price drops below $3,250, ETH might test $3,220 and the 50% Fibonacci barrier again. If it keeps going down, it could go as low as $3,180.
Ethereum Price Outlook Remains Cautious Despite Positive Developments
The record number of wallets created and the recent price action are good signs, but Ethereum has a lot of problems that could make it hard for it to get back to $4,000 in the near future. The amount of people using the network has gone down a lot. DEX volumes over the past seven days have dropped 65% from their peak of $27.8 billion in October 2025 to just $9 billion. This drop has caused Ethereum network fees to drop by 87%, to just $2.6 million.
Blockchains like Solana, Tron, and BNB Chain are becoming more and more competitive since they offer similar features with less hassle for regular consumers. Ethereum is still the most valuable blockchain, with over 54 million transactions happening in the last 30 days on its mainnet and layer-2 solutions like Base. However, the path to $4,000 depends on renewed demand for blockchain apps and a greater willingness to take risks with cryptocurrencies as the US economy remains uncertain.
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