- New ETH addresses surged to over 200,000 daily while price dropped 5.57% to $3,051.
- Non-zero ETH addresses reached 136M with steady upward trajectory, suggesting growing ecosystem adoption.
Ethereum’s [ETH] network metrics have reached significant milestones in January 2025, with new address creation hitting a 27-month peak despite recent price corrections.
This surge in network activity provides crucial insights into potential market dynamics and adoption trends.
ETH price action and technical overview
The ETH/USD pair was trading at $3,051.36 at press time, marking a notable 5.57% decline in recent trading.
The MA cross between the 50-day (3,452.83) and 200-day (2,988.11) moving averages maintained a bullish structure, though price action has retreated below the 50-day MA.
Trading volume stood at 75.74K ETH, indicating substantial market participation during the selloff.
Source: TradingView
The Chaikin Money Flow (CMF) indicator reading of -0.04 suggested a slight bearish bias in money flow, though it remained near neutral territory.
This technical setup reflects short-term selling pressure while maintaining longer-term bullish market structure.
Network growth analysis
AMBCrypto’s analysis of Glassnode data revealed a remarkable spike in new Ethereum addresses.
The chart showed addresses reaching approximately 200,000 between the 24th and the 25th of January, a level not seen since October 2022.
This surge represents a significant increase from the average daily creation of 100,000-120,000 addresses observed throughout most of 2024.
Source: Glassnode
The spike in new ETH addresses coincides with increased market volatility, suggesting that price action may be attracting new market participants despite recent corrections.
Historical data shows similar patterns of address growth during periods of price discovery and market uncertainty.
Non-zero balance addresses grow
The number of Ethereum addresses holding a non-zero balance has maintained a consistent upward trajectory, reaching 136 million in January 2025.
This balance has shown remarkable resilience, continuing its growth even during periods of price decline, indicating strong network adoption beyond speculative trading.
Source: Glassnode
The steady increase in non-zero ETH balance addresses, contrasting with the more volatile price action, suggesting a growing foundation of long-term holders and users actively engaging with the ETH ecosystem.
This divergence between price and adoption metrics often precedes significant market movements.
Market implications for ETH
The combination of surging new addresses and steady growth in non-zero balance holders presented an interesting market dynamic.
While ETH’s price action showed short-term weakness, the underlying network metrics suggested growing adoption and potential accumulation at current levels.
Read Ethereum’s [ETH] Price Prediction 2025-26
This contrast between price action and network growth could indicate a potential divergence that historically has preceded significant market movements.
The sustained increase in network participation, particularly during price corrections, often signals growing market maturity and potential institutional interest.
