# Сопутствующие статьи по теме Staking

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Staking", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Wall Street Shorts ETH: Vitalik Knows and Is Front-Running, Tom Lee Remains Deluded

Wall Street short-selling firm Culper Research has disclosed a significant short position against ETH and related securities, including Bitmine (BMNR). The firm argues that Ethereum’s token economic model was broken following the Fusaka upgrade in December 2025. According to the report, Vitalik Buterin is aware of the issue and has been selling ETH, while prominent bull Tom Lee continues to invest despite what the report describes as clear signs of decline. Culper claims that the surge in on-chain activity post-Fusaka—cited by Lee as evidence of adoption—is largely driven by address poisoning and dust attacks, not genuine usage. Their analysis indicates that 95% of new wallet growth comes from dust addresses, poisoning attacks have tripled, and such transactions now account for 22.5% of all Ethereum activity. The upgrade increased the gas limit from 45M to 60M, aiming to expand capacity, but gas fees fell by ~90% instead of the projected 10–30%. Culper attributes this to a miscalculation in Layer-1 demand elasticity by Vitalik and developers, using outdated models. The report also notes declining validator earnings and a shift of developers and institutional activity to Solana, which it says is outperforming Ethereum in key metrics. The firm draws a parallel to past tech giants like Netscape and Nokia, suggesting Ethereum may face a similar decline absent structural changes.

marsbit03/06 04:45

Wall Street Shorts ETH: Vitalik Knows and Is Front-Running, Tom Lee Remains Deluded

marsbit03/06 04:45

Wall Street Shorts ETH: Vitalik Knew and Front-Ran, Tom Lee Still Deluded

Wall Street short-selling firm Culper Research has initiated a short position on ETH and related securities, including Bitmine (BMNR). The firm argues that Ethereum’s token economic model was fundamentally broken following the Fusaka upgrade in December 2025, which increased the gas limit from 45M to 60M. Contrary to initial expectations of a 10–30% drop, gas fees fell by approximately 90%, leading to a surge in low-value on-chain activity such as address poisoning and dust attacks. These activities now account for a significant portion of transaction growth and new wallet creation, distorting metrics often cited as signs of organic adoption. Culper alleges that Vitalik Buterin and core developers severely miscalculated Layer 1 demand elasticity using outdated models, overestimating real demand by 3–9 times. The report claims Vitalik is aware of these issues and has been selling ETH, exceeding previously announced sales targets. Meanwhile, Tom Lee of Bitmine continues to defend ETH based on misleading on-chain activity growth. Additionally, validators are earning 40–50% less in tips per unit of gas, reducing staking yields and potentially weakening institutional interest. Ethereum is also losing developer and market share to Solana, which has attracted major institutional DeFi adoption. Culper concludes that Ethereum’s tokenomics are irreparably damaged and expects further price declines.

Odaily星球日报03/06 04:44

Wall Street Shorts ETH: Vitalik Knew and Front-Ran, Tom Lee Still Deluded

Odaily星球日报03/06 04:44

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