Ethereum Mainnet Activity Jumps Past Layer-2s, But Dust Attacks Muddy the Picture
Ethereum mainnet daily active addresses briefly exceed 1.3 million in January 2026 after Fusaka, but spam and dust attacks inflate the metrics.
In January 2026, Ethereum's mainnet saw a notable spike in activity, partly driven by the December Fusaka upgrade—and partly by spam.
Activity Surge
Daily active addresses on Ethereum's mainnet briefly exceeded 1.3 million in mid-January. The Fusaka upgrade had lowered transaction fees and drawn activity back from layer-2 networks, making mainnet usage more attractive. The upgrade was a key factor in the increase in on-chain engagement.
The Catch: Dust and Spam
Much of the activity included spam and dust attacks. Address poisoning campaigns and other low-value transactions inflated genuine transaction metrics, making it harder to interpret "real" user growth. Analysts noted that headline active-address numbers should be taken with caution when such campaigns are active.
Ecosystem Position
Ethereum continued to show institutional strength, with 28 institutions holding 6.14 million ETH and total ecosystem TVL around $8.5 billion. The mainnet vs. L2 dynamic and the balance between scaling and decentralization remained central themes for 2026.
