On-chain analytics from Santiment show Ethereum’s network just hit a new adoption milestone: 175.5 million non-empty addresses — the highest total among all digital assets. Santiment’s “Total Amount of Holders” metric counts wallets with a non-zero ETH balance. Increases can reflect fresh users entering the ecosystem, previous holders redeploying capital, or existing users spreading ETH across multiple wallets. Conversely, declines generally indicate investors are emptying addresses and exiting the asset. Taken together, a rising holders count is a broad signal of net adoption. The pace of growth picked up sharply after mid-December. Santiment’s chart shows that during the second half of 2025 the metric was already climbing, but January saw the biggest jump: 5.16 million new non-empty addresses in a single month, a 3.03% increase that pushed the total to the new all-time high of 175.5 million. Santiment’s visual also overlays another key on-chain trend: Supply on Exchanges — the total ETH held in centralized exchange wallets — has continued to fall. The firm links this outflow to rising staking activity on the network. “As staking continues to be of strong interest, especially while markets move sideways, exchange supply will continue to shrink as well,” Santiment said, noting that reduced exchange balances can lower immediate sell-side pressure. Price-wise, Ethereum has rebounded from a recent Sunday low below $2,800 and is trading back above $3,000 as these on-chain dynamics play out. Read more AI-generated news on: undefined/news