Ethereum hits 989.5K active addresses as ETF demand rises

Ethereum saw a sharp rise in on-chain activity, with daily active addresses reaching 989,500 in 24 hours, nearing the 1 million mark. The article links the surge to renewed demand for US spot Ethereum ETFs, which took in about $245 million in one week and extended a five-week inflow streak, alongside continued DeFi usage and tokenized asset activity. The move is significant for market sentiment because stronger network utilization can support validator fee revenue, reinforce staking economics, and reduce net ETH issuance through EIP-1559 fee burning. The piece frames the latest data as evidence that Ethereum base-layer demand remains resilient despite Layer 2 growth, potentially offering a constructive fundamental backdrop for ETH.