Ethereum Hits 19.45 Million Active Addresses in August 2025, Nearing 2021 All-Time Highs

• Ethereum’s User Activity Reaches Multi-Year High
• Are NFTs Making a Comeback?
• Why Is Ethereum Thriving Again?
• FAQs

Ethereum’s network activity is roaring back, with 19.45 million unique active addresses recorded in August 2025—just shy of its 2021 peak. This surge reflects growing adoption across DeFi, NFTs, and staking, alongside a revival in NFT trading volumes. Analysts attribute the momentum to Ethereum’s expanding ecosystem and utility-driven NFT projects. Meanwhile, Ethereum-based NFTs are outperforming Solana, with sales hitting $285.6 million in August. Is this the start of a new bull run, or just a mature market finding its footing? Let’s dive in.

Ethereum’s User Activity Reaches Multi-Year High

Ethereum’s monthly active addresses hit 19.45 million in August 2025, marking the highest level since May 2021’s record of 20 million, according to data from Block.co. This metric—tracking unique wallets interacting with the blockchain—covers everything from token transfers to DeFi, NFTs, and staking. The rebound suggests renewed confidence in Ethereum’s ecosystem after a prolonged slump post-2021. "This isn’t just speculative trading," notes a BTCC analyst. "We’re seeing real usage in L1 and L2 applications, from gaming NFTs to DeFi protocols."

Are NFTs Making a Comeback?

NFTs, once the poster child of crypto’s 2021 mania, are showing signs of life. Trading volumes on ethereum surged to $285.6 million in August, with over 1.5 million transactions—the highest since 2022, per CryptoSlam. Projects like Pudgy Penguins, now a mainstream brand, exemplify the shift toward utility-driven NFTs. "The ‘vibe-based’ JPEG era is over," says Matas Čepulis, CEO of LuvKaizen. "Today’s NFTs are tied to gaming, DeFi, or community benefits—actual value, not just hype." Ethereum now hosts 62% of all NFT transactions, outpacing Solana since June.

Why Is Ethereum Thriving Again?

Three factors stand out:

1. Layer-2 Adoption: Networks like Arbitrum and Optimism reduce fees, attracting users.
2. DeFi Innovation: New protocols offer higher yields, pulling in capital.
3. NFT Utility: Gaming and membership NFTs are driving organic demand.

FAQs

How close is Ethereum to its all-time high in active addresses?

Ethereum reached 19.45 million active addresses in August 2025, just 550,000 shy of its May 2021 peak of 20 million.

What’s driving Ethereum’s NFT resurgence?

Utility-focused projects (e.g., gaming NFTs) and institutional interest, with Ethereum-based collections like Pudgy Penguins gaining mainstream traction.

Is Solana still competing with Ethereum in NFTs?

Ethereum has regained dominance since June 2025, processing 62% of NFT transactions versus Solana’s 23%.