#数字资产市场动态 Ethereum's recent growth is a bit different

Recently, on-chain activity for Ethereum has noticeably increased, but a closer look at the data reveals that the driving force is not old players trading frequently, but a large number of new addresses appearing on the blockchain for the first time. Monthly user tracking data shows that the influx of new wallets has become the main force, which indeed indicates that the attractiveness of the Ethereum ecosystem itself is genuinely improving.

In the past, high activity on Ethereum was often due to existing users trading assets, which could easily create a false impression of prosperity. But this time is different—new users are coming in wave after wave, which is a sign of healthy ecosystem development.

Interestingly, these new users are not just here to join the fun. What are they doing? DeFi trading, stablecoin transfers, NFT minting—various scenarios are involved, and they are also activating new applications within the ecosystem. In other words, Ethereum is breaking out of its original user circle and expanding into a broader market. The ecosystem's driving force is shifting from existing users to new users, marking the arrival of a new phase.