Ethereum continues its growth as it reaches a new milestone of 425 million unique addresses. With the address crossing this unique milestone, the Ethereum rally is being further established as the coin heads towards the psychological level of $2,000. But analysts point out that it could be losing momentum.
Ethereum surpasses 425 million unique addresses
Ethereum’s network has now surpassed 425 million unique addresses, highlighting the steady expansion of its user base and long-term adoption. The pace of growth has also accelerated in 2026. On Jan. 11, the network recorded 590,961 new addresses in a single day, the largest daily increase in Ethereum’s history.
An increasing number of unique addresses generally signals that more users, wallets, and applications are interacting with the network. Although one person can control multiple addresses, sustained address growth is often viewed as a proxy for increasing adoption and on-chain activity.
Over the long term, a larger and more active network can strengthen demand for ETH, as the token is required to pay transaction fees, participate in staking, and interact with decentralized applications. If this growth is accompanied by higher transaction volumes and economic activity, it can reinforce Ethereum’s network value and support a stronger fundamental outlook for ETH.
ETH rally loses steam as it approaches $2,000
After breaking above the multimonth trendline, ETH has been establishing solid ground above this level. The red broken line shown in the chart depicts that the recent rally that began when ETH was $1,600 has lasted long. With ETH currently priced at $1,917, the bulls have done a phenomenal job of keeping this uptrend intact.
Now that the coin is approaching a major level, the $2,000 psychological resistance level, it could be faced with a lot of resistance. The $2,000 level acts as a psychological resistance because round numbers naturally attract the attention of both retail and institutional investors. As ETH approaches this level, many traders choose to take profits by placing sell orders, creating increased selling pressure.
On the other hand, there is often a huge number of limit orders and options positions at round figures. Thus, $2,000 is also likely to be one of such obstacles. In addition, if this figure coincides with technical figures, such as the 200-day moving average or some previous resistance area, it means that this level will become an even stronger obstacle. But if Ethereum breaks through the level of $2,000 accompanied by good volume, it indicates that the sellers’ positions were neutralized, and the new support level appeared.
Meanwhile, an analyst stated that ETH is losing momentum as the rally does not have the thrust that it had when it first began. As such, the analyst expects the bulls to hold above the $1,800 level.
