Ethereum hits 989.5K active addresses as ETF demand rises

Ethereum just recorded 989,500 active addresses in a single 24-hour window, according to Santiment data. That’s close enough to 1 million to make the network look like it’s having its busiest stretch in years, driven by a cocktail of ETF inflows, DeFi activity, and growing wallet engagement. The number represents unique addresses that either sent or received a transaction on the Ethereum network within that period. Think of it as a rough headcount for how many people (or bots, or smart contracts) actually showed up and did something on-chain, rather than just holding tokens in cold storage. The ETF engine A major catalyst behind the spike is renewed appetite for US spot Ethereum ETFs. Net inflows into these products hit approximately $245 million during a single week in early August, extending a streak of five consecutive positive weeks. BlackRock’s iShares Ethereum Trust, trading under the ticker ETHA, and Fidelity’s Wise Origin Ethereum Fund (FETH) have been the primary magnets for that capital. A volatile year for on-chain metrics The 989,500 figure is impressive, but it sits within a broader 2026 narrative that’s been anything but smooth. Earlier this year, Ethereum’s 30-day mo...