Ethereum user activity reportedly surged in August, reaching levels that have not been seen since the peak levels in 2021. This activity coincided with the revival of impossible token (NFT) activities since 2023 to the highest level.
Ethereum reportedly reached its highest level of monthly active addresses in the year. This is a unique address for 19.45 million people in August 2025.
Monthly Active Addresses measure the number of unique wallets that interact with the Ethereum blockchain within a given month and capture all kinds of activity in your network, including forwarding, defi, NFT, staking, and more.
Ethereum Network Activity Set a new record for August 2025. Source: block.co
Ethereum regained its milestone in August
According to Block.co data, Ethereum user activity has been on a clear upward trend over time.
In January 2018, Ethereum had 17.49 million active addresses, but by May 2021, that number had exceeded 20 million. Since then, they have endured steady decline and struggled to regain those highs.
This year, active addresses reached 19.45 million, the closest to reaching peaks in 2021.
Analysts argue that this growth highlights not only a growing interest from more projects, developers and users, but also a growing ecosystem.
It also illustrates the robust on-chain usage in Ethereum’s Layer-1 (L1) and L2 networks.
The volume of transactions only showed significant increases last month, suggesting an increase in engagement with distributed applications (DAPPS), distributed finance (DEFI), and NFTs.
Is NFT back?
The NFT market has not been the same since the 2021 outbreak. Since then, trading volumes have diminished, collections have lost momentum, and bag holders have become the butt of some witty jokes.
Matas Chepulis, founder and CEO of Luvkaizen, is one of those who refuse to believe that the NFT season has not returned or was once. He believes they are still relevant as they harness strong emotional and social dynamics. He cited examples of projects like Pudgy Penguins, which grew into a big brand, as evidence that space simply wasn’t evolving.
According to data from NFTPulse, the number of active NFT users across the blockchain has almost doubled since early summer.
Ethereum (ETH)’s NFT has surpassed Solana in terms of NFT users since June, making it a new momentum.
Data from Cryptoslam.io also confirms that ETH NFT has been growing in sales since April, peaking at $285.6 million in transactions that exceeded 1.5 million last month.
The global NFT market size in 2025 is currently estimated at $49 million-$6.1 billion, and the report claims Ethereum’s authority for up to 62% of all NFT transactions.
So is NFT back? In a way, they never left, but the market is mature. Unlike the 2021-2022 NFT trend, driven primarily by speculation, the current trend is based on an atmosphere where looking at utility-based NFTs that are favorable to the market and have nothing to offer than hype, as linked to games and debt.
