On-chain data shows empty addresses in the Ethereum network set a new record of 175.5 million, the highest among all digital assets.
Ethereum Sees New Record in Total Number of Owners
According to data from on-chain analytics firm Santiment, the Total Number of Owners reached a new milestone for Ethereum recently. This index tracks the total number of wallets in the network that hold a non-zero balance. If the value of this metric increases, it means that new users are joining the network, and/or old users who previously sold are reinvesting.
This trend may arise due to existing users spreading their assets across multiple wallets. In general, all three of these can be thought of as simultaneously playing to some extent, meaning that whenever the Total Number of Managers increases, some acceptance of the total network occurs.
On the other hand, the indicator that sees a decline suggests that some investors are withdrawing their wallets, possibly because they have decided to get out of cryptocurrency.
Now, here’s a chart shared by Santiment that shows the trend of Total Ethereum Ownership over the past few months:
The growth in the metric seems to have accelerated in recent weeks | Source: Santiment on X
As shown in the graph above, the Total Value of Ethereum Owners increases during the second half of 2025, but since mid-December, the growth of the index has gone up a gear. In January alone, more than 5.16 million addresses joined the network, representing a jump of 3.03%. The value of the metric is now 175.5 million, a new high for ETH and a record among all digital assets.
The increase in Total Number of Holders is not the only development found in Ethereum recently. In the same chart, the statistics company also attached data to another indicator: Supply on Exchanges. This metric measures the total amount of ETH currently sitting in wallets associated with a central exchange.
From the graph, it seems that Ethereum Supply on Exchanges has continued to decrease, a sign that investors have been withdrawing their Ethereum from these platforms. The push to deregulate the exchange has come as large profits have been growing in the network.
“As the exchange continues to gain interest, especially while markets are moving sideways, transactions will continue to decrease,” Santiment explained.
Trading currency of ETH
Ethereum has been making its way back since its Sunday drop below $2,800, as the price of the asset is now back above $3,000.
The trend in the price of the coin over the last five days | Source: ETHUSDT on TradingView
Featured image from Dall-E, chart from TradingView.com
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