Ethereum Hits 19.45 Million Active Addresses in August 2025, Nearing 2021 Peak Levels

Ethereum’s User Activity Reaches Near-Record Highs

Ethereum just clocked its highest monthly active address count in years, hitting 19.45 million unique wallets in August 2025 according to Block.co data. For context, that’s within spitting distance of May 2021’s peak of 20 million—back when NFT mania and DeFi summer were in full swing. Monthly active addresses track wallets interacting with Ethereum’s blockchain (transfers, staking, DeFi, NFTs), making it a solid gauge of real usage. And unlike 2021’s frothy speculation, today’s growth feels more organic. As one BTCC analyst noted, "This isn’t just traders flipping apes—it’s developers building, gamers minting utility NFTs, and institutions quietly testing the waters."

Why Are Users Flooding Back to Ethereum?

The rebound didn’t happen overnight. After the 2022 crypto winter, Ethereum’s active addresses flatlined around 14-16 million for years. But three factors changed the game in 2025:

• Layer-2 adoption: Chains like Arbitrum and Base slashed gas fees by 80%, making everyday transactions viable again.
• NFT utility shift: Projects like Pudgy Penguins pivoted from "vibes" to tangible perks (gaming assets, merch redemption).
• Institutional staking: Post-Merge upgrades made ETH a yield-bearing asset for conservative investors.

CoinMarketCap data shows Ethereum’s transaction volume spiked 37% month-over-month in August—the biggest jump since Q1 2024.

NFTs: Down But Not Out

Remember when NFT trading floors felt like ghost towns in 2023? The pendulum’s swinging back. Ethereum-based NFT sales hit $285.6 million in August (1.5M transactions), per CryptoSlam—still a far cry from 2021’s $3.4 billion monthly peaks, but up 210% since April. What’s different now? "We’re seeing fewer bored apes and more functional NFTs," says Matas Čepulis, CEO of LuvKaizen. He points to Pudgy Penguins’ Walmart toy deals and DeFi-linked NFTs with staking rewards as examples of the space maturing.

Ethereum vs. Solana: The NFT Battle Heats Up

In a plot twist, ethereum reclaimed its NFT crown from Solana in June 2025 after trailing for 18 months. Analysts credit Pudgy Penguins’ migration to zkSync (an Ethereum L2) and Blur’s revised royalty system. Solana still leads in daily NFT volume, but Ethereum dominates with 62% of all NFT transactions year-to-date.

What’s Next for Ethereum?

With Proto-Danksharding expected in Q4 2025, Ethereum’s scalability could improve further. But challenges remain—network fees still spike during meme coin frenzies, and competitors like solana tout faster speeds. That said, as a BTCC market strategist quipped, "Ethereum’s like New York City: expensive, congested, but where the serious players operate."

This article does not constitute investment advice.

FAQs

How many active Ethereum addresses were there in August 2025?

Ethereum reached 19.45 million monthly active addresses in August 2025, per Block.co data.

Are NFTs still relevant in 2025?

Yes, but the focus shifted from speculative PFPs to utility NFTs (gaming, DeFi, real-world perks). Sales volume has grown steadily since April 2025.

Why did Ethereum surpass Solana in NFT users?

Key projects like Pudgy Penguins moved to Ethereum L2s, and Blur’s platform updates improved creator monetization.