Ethereum Active Addresses Soar to 989,500 Amid ETF Inflows and Robinhood Activity

Ethereum's daily active addresses have reached 989,500, the highest since March, amidst a surge in wallet usage driven by ETF inflows and Robinhood Chain activity.

Despite Ethereum's price remaining relatively stable at $1,870, on-chain data from Santiment indicates a significant increase in user activity. This uptick is attributed to a combination of factors, including the revival of spot ETH ETF demand and the growth of high-velocity use cases through Robinhood Chain's Ethereum-settled operations.

The spike in user activity appears to be concentrated among existing wallets re-routing funds, testing execution rails, and positioning for potential future price movements. This is in contrast to a surge driven by new entrants, which could indicate a more sustainable shift in on-chain behavior.