The month-over-month user activity retention on Ethereum is on an uptrend, data from blockchain analytics platform Glassnode shows. That being said, this uptrend has yet to impact ETH’s price in a positive manner.
Ethereum sees spike in MoM activity retention
Glassnode data shows that month-over-month user activity retention on Ethereum is experiencing a sharp uptick, signaling rising interest in the top smart contract platform.
The following chart from Glassnode shows an increase in Ethereum activity retention at the beginning of 2026, surpassing the previous high seen in 2018. Meanwhile, the ETH price appears to be consolidating in the $3,300 range.
In addition, other Ethereum metrics point toward enhanced activity on the platform. The number of active addresses on Ethereum recently hit a three-year high, showing renewed interest in the ETH ecosystem.
The number of transactions on Ethereum recently hit a new all-time high, despite the digital asset’s lukewarm price performance over the past few years. It should be recalled that ETH is yet to establish a new high, following its current all-time high of $4,946 in August 2025.
Is Etheruem price due for a rally?
Besides the brewing on-chain activity on Ethereum, institutional interest in the digital asset is also showing positive signs. For instance, the week starting January 12 has seen four consecutive days of positive Ethereum exchange-traded fund inflows, worth more than $460 million.
In an X post, crypto market commentator Ted Pillows remarked that on January 15, spot Ethereum ETF inflows reached as high as $164.40 million. BlackRock’s purchase represented a share worth $149.20 million out of this.
In the same vein, there are also speculations about a looming ETH ‘supply crunch,’ which can have a dramatic impact on the cryptocurrency’s price.
Crypto analyst Crypto Rover shared the following chart, remarking that Ethereum validators appear confident about a further rise in the cryptocurrency’s price, as a record amount of ETH continues to get staked on the network.
