ChainCatcher reports that, according to Beincrypto, since the Fusaka upgrade on December 3, 2025, Ethereum network activity has surged. Data shows that the number of new addresses has increased by approximately 110%, currently adding about 292,000 new addresses daily. Analysts say this highlights an accelerated adoption rate among users, reflecting the combined effects of seasonal factors and structural upgrades.
Additionally, the HODL Waves indicator shows an increase in the number of medium-term holders who have held Ethereum for three to six months. Most of these investors built their positions between July and October 2025. Investors who entered in early July are currently in profit, while those who entered after mid-July are still at a loss. Price increases could trigger these holders to sell.
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