⛓️ Crypto🔴 BearishImportance 7/10

Culper Shorts Ethereum, Says Buterin Selling Signals More Pain Ahead

NewsBTC|Jake Simmons|March 6, 2026 at 11:00 AM

Image via NewsBTC

🤖AI Summary

Culper Research has disclosed a short position on Ethereum, citing deteriorating tokenomics following the December 2025 Fusaka upgrade that caused gas fees to drop 90% instead of the expected 10-30%. The firm argues that Vitalik Buterin's recent ETH sales signal awareness of these broken economics, while much of Ethereum's post-upgrade activity growth stems from address poisoning rather than genuine utility.

Key Takeaways

→Culper Research is shorting ETH and ETH-linked securities, claiming the Fusaka upgrade broke Ethereum's tokenomics.
→Gas fees reportedly fell 90% post-Fusaka instead of the anticipated 10-30% drop, severely impacting validator economics.
→Vitalik Buterin has sold over 19,300 ETH since announcing plans to sell 16,384 ETH for Foundation funding.
→Culper claims 95% of new wallet growth is from 'dusting' attacks and address poisoning, not organic usage.
→The firm argues Ethereum is losing market share to Solana and its own Layer 2 solutions.

Mentioned Tokens

$ETH$2,066▼-3.9%

$SOL$87.81▼-4.8%

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#ethereum #short-position #culper-research #vitalik-buterin #fusaka-upgrade #tokenomics #gas-fees #validators #address-poisoning #eth-selling

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