CoinRank Daily Data Report (1/20)｜Ethereum’s record-breaking 2.9 million daily transactions may b...

Ethereum’s record-breaking 2.9 million daily transactions may be primarily driven by an “address poisoning” attack

Elon Musk: X Algorithm Open Source, Still Needs Significant Improvement

South Korea Plans to Remove “One Exchange to One Bank” Restriction, Promoting Legalization of Crypto Derivatives and Corporate Account Trading

MegaETH Mainnet Launches on January 22nd, Initiating Global Stress Testing

Welcome to CoinRank Daily Data Report. In this column series, CoinRank will provide important daily cryptocurrency data news, allowing readers to quickly understand the latest developments in the cryptocurrency market.

Ethereum’s record-breaking 2.9 million daily transactions may be primarily driven by an “address poisoning” attack

According to CoinDesk, Ethereum network activity has recently surged, reaching a new high of 2.9 million transactions in a single day. However, the ETH price has reacted tepidly, suggesting this may be due to a large-scale “address poisoning” attack rather than genuine user demand growth.

Research found that approximately 80% of the abnormal increase in new addresses was related to stablecoins, and about 67% of newly active addresses made their first transfers of less than $1, consistent with “dust attacks.”

In the analyzed sample, approximately 3.86 million addresses received “poisoned dust” in their first stablecoin transaction. Attackers used smart contracts to send small amounts of stablecoins to hundreds of thousands of addresses, polluting users’ transaction history and inducing them to mistakenly transfer large sums of money to fake, similar addresses.

The significant drop in transaction fees following the Fusaka upgrade in early December last year made such low-cost attacks feasible.

This suggests that Ethereum’s record-breaking transaction volume may be exaggerated by spam transactions, weakening its credibility as a signal of increased network demand, and the market has not viewed it as a positive catalyst for ETH prices.

Elon Musk: X Algorithm Open Source, Still Needs Significant Improvement

Elon Musk stated on the X platform that while the X recommendation algorithm still has many issues, the team is working hard to improve it and has open-sourced the new algorithm, allowing the public to monitor the adjustment process in real time.

This algorithm is based on the same Transformer architecture as xAI’s Grok model.

South Korea Plans to Remove “One Exchange to One Bank” Restriction, Promoting Legalization of Crypto Derivatives and Corporate Account Trading

According to the Korea Herald, South Korean financial authorities are working to reform the digital asset regulatory system, planning to abolish the “one exchange – one bank” binding restriction, allowing the issuance of crypto derivatives and participation in trading by corporate accounts, in order to break the current market monopoly structure and promote liquidity.

Regulators believe that although this restriction is not legally mandatory, it has long existed due to anti-money laundering requirements, limiting competition among exchanges and user choice.

Subsequent policies will be included in the second phase of legislation for the Digital Asset Basic Law, and both parties in the National Assembly have reached a consensus on some aspects of regulatory deregulation.

PANews Note: South Korea’s “one exchange, one bank system” means that each exchange can only sign a real-name verification agreement for deposit and withdrawal accounts with one bank, and vice versa. This system naturally evolved to strengthen anti-money laundering (AML) and accountability. Currently, financial authorities have initiated discussions and procedures to abolish or significantly relax this system.

MegaETH Mainnet Launches on January 22nd, Initiating Global Stress Testing

According to MegaETH’s official announcement, its mainnet will launch on January 22nd, initially undergoing a 7-day global stress test, aiming to process 11 billion transactions and achieve 15,000 to 35,000 TPS.

During the test, multiple on-chain interactive applications will be launched to verify the system’s stability under high load. The mainnet will then officially open, initially integrating USDM-driven DeFi and consumer applications.

〈CoinRank Daily Data Report (1/20)｜Ethereum’s record-breaking 2.9 million daily transactions may be primarily driven by an “address poisoning” attack〉這篇文章最早發佈於《CoinRank》。