On-chain data from analytics firm Santiment reveals the Ethereum network is operating at near-record levels of activity. As of April 1, 2026, the network recorded over 788,000 daily active addresses interacting with its ecosystem, a figure described as being near all-time highs. Concurrently, the network is adding an average of more than 255,000 new addresses every day.
This sustained growth in network participation persists despite a cautious market environment. At the time of Santiment's report, Ethereum (ETH) was trading near $2,130, though its price has since experienced volatility, dropping approximately 4.2% to around $2,050 in subsequent trading. The broader crypto market's Fear and Greed Index sits at 12, indicating "Extreme Fear" among investors, creating a notable divergence between strong on-chain fundamentals and softer market sentiment.
The high level of activity underscores Ethereum's dominant role in decentralized finance (DeFi) and the broader digital economy. The network's Total Value Locked (TVL) stands at approximately $108.16 billion, highlighting significant capital deployment. Analysts view the surge in both active and new addresses as a leading indicator of underlying network health and organic demand, which often precedes significant market shifts. The data suggests the infrastructure is not suffering from critical congestion, maintaining robust operational capacity that continues to attract developers, corporations, and tokenized asset protocols.
