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Coin Metrics: After Fusaka upgrade, stablecoin "dust" transactions on Ethereum increased by 2-3 times
ChainCatcher News reports that, according to Cointelegraph, Coin Metrics has noted that after Ethereum completes the Fusaka upgrade in December 2025, network fees will significantly decrease, making on-chain operations more convenient. Currently, Ethereum’s daily transaction volume has exceeded 2 million transactions, and the number of active addresses has increased by 60% compared to previous average levels.
Coin Metrics pointed out that low Gas fees have led to a large number of “Dusting attacks”: such “dust transactions” involving stablecoins (USDC and USDT) currently account for about 11% of total Ethereum transactions and 26% of daily active addresses. Before the upgrade, “dust transactions” only made up 3%-5% of transaction volume, and after the upgrade, this proportion increased by 2-3 times. “Dusting attacks” refer to hackers sending small amounts of tokens to random addresses to track wallets or cause network chaos.