$ETH Ethereum may enter a "death spiral."



Culper Research Fund has opened a SHORT position on ETH and related stocks, including BitMine, stating that the network economy has worsened after the Fusaka upgrade.

Key points of the report:
• Transaction fees on the Ethereum network have decreased by approximately 90% after the upgrade.
• The reduction in fees decreases validator income and staking yields, which could weaken network security.
• The increase in transaction numbers and addresses may be distorted by spam operations and scam attacks through "address poisoning."
• If the network's actual utility does not grow, Ethereum risks entering a "death spiral."
ETH-0.64%
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