Ethereum new wallet creation hits all-time high of 327,000 per day

The number of new wallets created on the Ethereum network has reached an all-time high, averaging 327,000 per day, according to on-chain analytics firm Santiment. The firm attributed the surge to a significant reduction in gas fees following the Fusaka upgrade introduced last December, which has spurred an influx of new users. Santiment also noted that stablecoin transfer volume on the Ethereum network hit a record $8 trillion in the fourth quarter of last year, explaining that new users are being drawn to the network as it is increasingly utilized as a practical payment infrastructure.