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The Ethereum network has recently been quite active, with on-chain activity reaching a record high. However, there is an interesting phenomenon behind this — security analysts have pointed out that some of the activity may be due to "address poisoning" type spam attacks.
The data is in front of us: since January, the number of new addresses and transaction volume on Ethereum have surged significantly. It looks prosperous, but there are hidden risks. The real turning point was the Dencun upgrade. After the upgrade, Ethereum's Gas fees dropped by over 60%, which sounds like a good thing, but also opened a door — low costs make large-scale spam attacks increasingly cost-effective.
Further research data shows that this type of poisoning attack has already accounted for a considerable proportion. In other words, not all network prosperity represents genuine ecological activity. On-chain activity is indeed increasing, but the quality varies. For those trying to assess the true health of the Ethereum ecosystem, this is a noteworthy signal.
Unexpectedly, the Dencun upgrade turned into a garbage birth engine.
How genuine is the real activity level? Just looking at on-chain data can't tell the difference.
With such a high proportion of poisoning attacks, what are we even praising the ecosystem's vitality for?
The current hype around Ethereum is questionable in terms of true value.
When the data makes your eyes dizzy, it's actually all illusion. My wallet has been hacked again
Dencun's attack is a bit covert
If you think about it, my small addresses are indeed a bit suspicious hahaha
Prosperity is all an illusion. Real health? Don't joke with me
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Gas prices have become cheaper, but it has actually attracted a bunch of spam, very ironic.
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The issue of poisoning has long been something to pay attention to, but no one cares.
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What is the real active user count? Can someone tell me...
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The Dencun upgrade didn't really open the door, it's not very good.
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Looking at the excitement, it's all just water; this ecosystem feels a bit虚.
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The uneven quality is just a joke; it's hard to tell who is a real user.
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Low-cost spam attacks are exploding; I should have thought of that earlier.
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The data looks good on the surface, but behind it is all poisoning. I just stop looking.
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That's why I never trust on-chain activity metrics.
Happy just because the numbers look good, but who really checks what those transactions are for?
So now looking at on-chain data should come with a question mark; the actual activity might not be as high as imagined.
The Dencun upgrade was originally a good thing, but it ended up being used as a trash dump.
Don't just look at the number of new addresses; you need to see what these addresses are actually doing.
This is why it's too risky to only look at surface data; you need to dig deeper.
Happy when activity hits a new high? Let's see who is actually active.
Real activity is probably more than halved...
It's interesting that they don't mention garbage transactions when bragging about prosperity.
So how much of this activity is fake? Fifty-fifty?
The Dencun upgrade is a good thing, but it’s definitely been exploited.
The data looks impressive, but what exactly is inside?
It feels like every time on-chain data surges, a note in parentheses is added...
This is called "false prosperity," and we've seen it all before.
Gas is cheaper, but it has become a paradise for attackers, quite ironic.
The Dencun upgrade is a double-edged sword; costs have decreased but the ecosystem has also been polluted.
Watching the excitement, but it's all just false prosperity, exhausting.
The high proportion of poisoning attacks this time raises questions about true activity.
On-chain activity is high, but the quality is disappointing, a bit embarrassing.
Where are the real users? They are drowned out by these trash.
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Gas prices dropping actually invites trouble; upon reflection, it's indeed ironic.
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With such rampant poisoning, can we still trust the data? We need to learn to discern.
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Another case of "looks great but actually very risky," old tricks again.
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The Dencun upgrade was well-intentioned, but unexpectedly turned into a free attack tool.
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The uneven quality is real; this is exactly why I remain skeptical of on-chain data.
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It feels like now analyzing transaction data is like looking at edited images, all just tricks.
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This is the real problem—the most frightening thing is false prosperity.