Ethereum's network activity has reached an all-time high, partly due to 'address poisoning' spam attacks, according to security researcher Andrey Sergeenkov. Data shows a significant increase in new addresses and transaction volumes since January. The Fusaka upgrade, which reduced Gas fees by over 60%, has made large-scale, low-cost attacks more feasible. Sergeenkov's analysis reveals that 67% of new addresses had initial transactions under $1, with approximately 3.8 million addresses receiving 'dust' stablecoins as their first transaction.