Coin Metrics: Following the Fusaka upgrade, stablecoin "dust" transactions on Ethereum increased by 2-3 times.

PANews reported on February 4th that, according to Cointelegraph, Coin Metrics points out that since Ethereum's Fusaka upgrade in December 2025, network fees have been significantly reduced, making on-chain operations more convenient. Currently, Ethereum's daily transaction volume exceeds 2 million, and the number of active addresses has increased by 60% compared to the previous average.

Coin Metrics points out that low gas fees have spawned a large number of "dusting attacks": Dusting transactions of stablecoins (USDC and USDT) currently account for approximately 11% of total Ethereum transactions and 26% of daily active addresses. Before the upgrade, dusting transactions accounted for only 3%-5% of transaction volume; after the upgrade, this proportion increased by 2-3 times. A dusting attack refers to hackers sending small amounts of tokens to random addresses to track wallets or cause network disruption.