Ethereum Network Growth Accelerates 75% as Institutional Activity Remains Elevated

Ethereum's network growth metric has accelerated sharply in August, with new daily ETH addresses climbing from 121,210 on August 8 to 212,560 on August 16. This represents a 75.4% increase over eight days and adds another signal that activity is returning to the network.

The rise in new addresses follows another sharp increase in Ethereum usage, with Santiment recording 989,500 active addresses over a 24-hour period, the network's highest daily activity since March.

The current expansion comes as institutional ETH activity remains elevated, with U.S. spot Ether ETFs absorbing $244.94 million between August 3 and August 7, extending their positive weekly run to five consecutive weeks.