Coin Metrics: After the Fusaka upgrade, "dust" transactions of stablecoins on Ethereum increased by 2-3 times

According to Cointelegraph, Coin Metrics pointed out that since Ethereum completed the Fusaka upgrade in December 2025, network fees have significantly decreased, making on-chain operations more convenient. Currently, Ethereum's daily transaction volume has exceeded 2 million, and the number of active addresses has increased by 60% compared to previous averages.

Coin Metrics noted that the low Gas fees have led to a surge in "dusting attacks": such stablecoin (USDC and USDT) "dust transactions" currently account for about 11% of Ethereum's total transaction volume and 26% of daily active addresses. Before the upgrade, "dust transactions" only accounted for 3%-5% of the transaction volume, and this proportion has increased by 2-3 times after the upgrade. "Dusting attacks" refer to hackers sending small amounts of tokens to random addresses to track wallets or cause network chaos.