Ethereum wallet growth surged past 175.5 million as staking remains attractive even during market uncertainty.Ethereum wallet growth surged past 175.5 million as staking remains attractive even during market uncertainty.

Ethereum Wallet Count Surges Past 175.5M as Staking Drains Exchange Supply

Ethereum (ETH) slid to nearly $2,800 over the weekend as rising geopolitical tensions pressured risk assets. The pullback, however, was followed by a modest rebound, which lifted the crypto asset back above $3,000 by Wednesday.

Despite this volatility, the network keeps growing, with record wallet numbers and a shrinking exchange-held supply.

Exchange ETH Supply Shrinks

Ethereum’s number of non-empty wallets has surpassed 175.5 million, which, according to the latest findings by Santiment, is the highest among all cryptocurrencies. In fact, 5.16 million wallets were recorded in 2026 alone. The data indicates steady user participation, even amid sideways market conditions.

The analytics firm added that continued interest in staking is contributing to a steady decline in ETH held on centralized exchanges. Such trends can reduce selling pressure and support prices over time, even if short-term movements remain muted.

Against this backdrop, the network’s fundamentals suggest strong underlying support. Glassnode analyst Chris Beamish found that Ethereum is currently trading around a dense cost basis cluster. This means that many holders are near their breakeven levels. He explained that holding this zone would indicate absorption and base-building, while a breakdown could push ETH into weaker support areas where holders may look to reduce exposure.

Largest Corporate ETH Holder Staking Millions

On the corporate treasury side of things, BitMine Immersion Technologies, which happens to be the largest corporate holder of ETH, expanded its Ethereum treasury by 40,302 ETH on Monday, worth about $117 million. Its total holdings are now more than 4.24 million ETH, and account for 3.52% of all ETH in circulation.

The firm also revealed staking over 2 million ETH, almost half of its Ethereum holdings, and turning a significant share of its treasury into yield-earning assets. BitMine’s fast staking pace has added pressure to the Ethereum network, pushing the waiting period to become a new validator to 54 days as the popularity of staking on the blockchain grows.

Corporate interest in Ethereum, in general, has been on an uptrend. Bitwise observed that companies purchased over 1 million ETH, which is valued at approximately $3.5 billion. The number of publicly disclosed firms holding ETH rose by 40%, and together, these corporate holdings now account for roughly 5% of all Ethereum in circulation.

The post Ethereum Wallet Count Surges Past 175.5M as Staking Drains Exchange Supply appeared first on CryptoPotato.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Fed forecasts only one rate cut in 2026, a more conservative outlook than expected

Fed forecasts only one rate cut in 2026, a more conservative outlook than expected

The post Fed forecasts only one rate cut in 2026, a more conservative outlook than expected appeared on BitcoinEthereumNews.com. Federal Reserve Chairman Jerome Powell talks to reporters following the regular Federal Open Market Committee meetings at the Fed on July 30, 2025 in Washington, DC. Chip Somodevilla | Getty Images The Federal Reserve is projecting only one rate cut in 2026, fewer than expected, according to its median projection. The central bank’s so-called dot plot, which shows 19 individual members’ expectations anonymously, indicated a median estimate of 3.4% for the federal funds rate at the end of 2026. That compares to a median estimate of 3.6% for the end of this year following two expected cuts on top of Wednesday’s reduction. A single quarter-point reduction next year is significantly more conservative than current market pricing. Traders are currently pricing in at two to three more rate cuts next year, according to the CME Group’s FedWatch tool, updated shortly after the decision. The gauge uses prices on 30-day fed funds futures contracts to determine market-implied odds for rate moves. Here are the Fed’s latest targets from 19 FOMC members, both voters and nonvoters: Zoom In IconArrows pointing outwards The forecasts, however, showed a large difference of opinion with two voting members seeing as many as four cuts. Three officials penciled in three rate reductions next year. “Next year’s dot plot is a mosaic of different perspectives and is an accurate reflection of a confusing economic outlook, muddied by labor supply shifts, data measurement concerns, and government policy upheaval and uncertainty,” said Seema Shah, chief global strategist at Principal Asset Management. The central bank has two policy meetings left for the year, one in October and one in December. Economic projections from the Fed saw slightly faster economic growth in 2026 than was projected in June, while the outlook for inflation was updated modestly higher for next year. There’s a lot of uncertainty…
Share
BitcoinEthereumNews2025/09/18 02:59
ETF Expert Says Spot XRP ETF Launching This Week Will Test Investors, Here’s How

ETF Expert Says Spot XRP ETF Launching This Week Will Test Investors, Here’s How

The first exchange-traded fund (ETF) providing direct exposure to XRP prepares to launch this week. Following the considerable attention already garnered by futures-based XRP ETFs, ETF expert Nate Geraci says this debut is a moment that will test the strength of investor interest. Many in the market now wait to see if the new fund […]
Share
Bitcoinist2025/09/18 05:00
Swiss Bankers Association Confirms Legally Binding Blockchain Transfer Between Major Banks

Swiss Bankers Association Confirms Legally Binding Blockchain Transfer Between Major Banks

The post Swiss Bankers Association Confirms Legally Binding Blockchain Transfer Between Major Banks appeared on BitcoinEthereumNews.com. Switzerland just took a massive leap toward a blockchain-powered financial future, completing its first legally binding bank payment using tokenized deposits. Swiss Banks Complete Historic Blockchain Payment Trial The Swiss Bankers Association (SBA) announced on Sept. 16 that Postfinance, Sygnum Bank, and UBS successfully completed a proof of concept (PoC) for a deposit token, validating […] Source: https://news.bitcoin.com/swiss-bankers-association-confirms-legally-binding-blockchain-transfer-between-major-banks/
Share
BitcoinEthereumNews2025/09/18 09:54