Ethereum Hits 19.45 Million Active Addresses in August 2025, Nearing 2021 All-Time Highs
- How Close Is Ethereum to Its 2021 Peak?
- Are NFTs Driving Ethereum’s Comeback?
- What’s Behind Ethereum’s On-Chain Activity Surge?
- Is the NFT Market Really Back?
- FAQs: Ethereum’s 2025 Resurgence
Ethereum is making waves again. In August 2025, the network recorded 19.45 million active addresses—its highest monthly count since the 2021 bull run. This surge coincides with a revival in NFT activity, hitting levels not seen since early 2023. Analysts attribute this growth to Ethereum’s expanding ecosystem, with DeFi, NFTs, and Layer-2 solutions driving adoption beyond speculative trading. Here’s a DEEP dive into what’s fueling Ethereum’s resurgence.
How Close Is Ethereum to Its 2021 Peak?
Ethereum’s active addresses tell a story of resilience. Back in January 2018, the network had 17.49 million active wallets. By May 2021, that number skyrocketed past 20 million during the NFT and DeFi boom. After a prolonged slump, August 2025 marks a turning point: 19.45 million addresses interacted with Ethereum, just shy of its all-time high. According to Block.co data, this rebound signals robust on-chain activity across L1 and L2 networks. "This isn’t just speculation—it’s real utility," notes a BTCC analyst. "Developers are building, users are transacting, and the ecosystem is maturing."
Source: Block.co
Are NFTs Driving Ethereum’s Comeback?
The NFT market, once written off as a fad, is showing signs of life. Ethereum-based NFT sales hit $285.6 million in August—the highest since April—with over 1.5 million transactions. Projects like Pudgy Penguins, now a mainstream brand, exemplify this shift. "NFTs aren’t dead; they’re evolving," says Matas Ģepulis, CEO of LuvKaizen. "We’re seeing utility-driven NFTs—gaming, DeFi integrations—replace the hype-driven junk." Data from NFTPulse shows ethereum reclaiming its NFT throne from Solana, likely fueled by Pudgy Penguins’ migration to Abstract, an Ethereum L2 platform.
Source: cryptoslam.io
What’s Behind Ethereum’s On-Chain Activity Surge?
Three factors stand out:
- DeFi Summer 2.0: TVL in Ethereum DeFi protocols grew 22% month-over-month (CoinMarketCap).
- Layer-2 Adoption: Arbitrum and Optimism now process 40% of Ethereum transactions (TradingView).
- Institutional Staking: Over 30% of ETH supply is now locked in staking contracts.
"The merge to PoS was just the beginning," observes a BTCC market strategist. "Ethereum’s roadmap—danksharding, proto-danksharding—is turning skeptics into believers."
Is the NFT Market Really Back?
Yes, but differently. The 2021 NFT mania was 90% speculation; today’s market prioritizes utility. Gaming NFTs account for 60% of sales, while "vibe-based" collections flounder. The global NFT market, now valued at $49–$61 billion, sees Ethereum dominating 62% of transactions. "It’s like the dot-com bubble," quips a CryptoTwitter influencer. "The Pets.com NFTs died—but the Amazons are just getting started."
FAQs: Ethereum’s 2025 Resurgence
How many active addresses did Ethereum have in August 2025?
Ethereum reached 19.45 million active addresses in August 2025, per Block.co data.
What’s driving Ethereum’s NFT revival?
Utility-focused projects (gaming/DeFi integrations) and Layer-2 scaling solutions like Abstract.
How does this compare to 2021 levels?
Current activity is 97% of May 2021’s peak (20M addresses), with more sustainable growth drivers.
