Non-empty addresses on the Ethereum network have hit a new record of 175.5 million, the highest of any digital asset, according to on-chain data.
Ethereum has seen a new record in total number of holders.
The total number of holders recently hit a new milestone for Ethereum, according to data from on-chain analytics firm Santiment. This indicator tracks the total number of wallets on the network that have a non-zero balance. A high value of this indicator means that new users are joining the network and/or existing users who previously sold are reinvesting in their assets.
This trend may also occur as existing users spread their holdings across multiple wallets. In general, it can be assumed that all three act more or less simultaneously. This means that every time the total holders go up, there will be some net adoption of the network.
On the other hand, indicators witnessing a decline indicate that some investors are emptying their wallets as they have decided to exit cryptocurrencies.
Now here is a chart shared by Santiment that shows the trend in the total number of Ethereum holders over the past few months:
The growth in the metric seems to have accelerated in recent weeks | Source: Santiment on X
As you can see in the graph above, the total number of Ethereum holders showed an upward trend in the second half of 2025, but the growth of the indicator has been exponential since mid-December. In January alone, 5.16 million addresses were added to the network, an increase of 3.03%. The metric is currently worth $175.5 million, an all-time high for ETH and the highest among all digital assets.
The increase in total holder count is not the only on-chain development that Ethereum has observed recently. In the same chart, the analytics firm also attached data on another indicator: exchange supply. This indicator measures the total amount of ETH currently in wallets associated with centralized exchanges.
Looking at the graph, we can see that Ethereum supply on exchanges continues to decline, which is a sign that investors are pulling Ethereum from these platforms. As staking interest in the network grows, exchange withdrawals are being promoted.
“As staking continues to gain significant traction, supply on exchanges will also continue to decline, especially while markets are moving sideways,” Santiment explained.
ETH price
Ethereum is showing signs of recovery after Sunday’s low of $2,800, as the asset’s price is now back above $3,000.
The trend in the price of the coin over the last five days | Source: ETHUSDT on TradingView
Featured image of Dall-E, chart from TradingView.com
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