Analysis of 227 million USDC and USDT balance updates found that 43% were dust transfers under $1, said Coin Metrics.
Stablecoin-related dust activity is now estimated to make up 11% of all Ethereum transactions and 26% of active addresses on an average day, after the Fusaka upgrade made transactions cheaper, according to Coin Metrics.
“Dusting” attacks are a form of address poisoning in which attackers send tiny crypto transfers from look-alike wallet addresses to trick users into copying the wrong address.
Ethereum is now seeing more than 2 million average daily transactions, spiking to almost 2.9 million in mid-January, along with 1.4 million daily active addresses — a 60% increase over prior averages.
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