The world of cryptocurrency is a fast-paced and constantly evolving landscape, and the latest news to hit the headlines is the story of Jaredfromsubway.eth, an MEV bot that has made tens of millions of dollars in just three months through sandwich trading and arbitrage activities.
According to a report from EigenPhi, the bot has generated a profit of $34 million (after deducting $6 million in costs from $40 million in revenue), which is a staggering sum considering the short time frame. In contrast, Yannick, another MEV bot operator, estimates that the profits from his similar bot range from $3.5 million to $4.5 million.
Jaredfromsubway.eth launched his MEV bot in February of this year, and it quickly gained traction in the crypto world, surpassing the achievements of many other competitors. The bot uses sandwich trading, which involves automatically packaging pending transactions into a bundle and reordering them to take advantage of price differentials.
EigenPhi’s report highlights that automated bot trading is becoming more widespread, accounting for more than 60% of the size of an Ethereum block. The sandwich trading technique is particularly popular among bot operators, and Jaredfromsubway.eth’s bot has executed 238,000 attacks on 106,000 victims.
The analysis shows that Jaredfromsubway.eth is willing to pay a higher proportion to the validator to prioritize his transaction bundle, which can be effective with various tokens in a single transaction.
Additionally, Bert Miller, a representative of Flashbots Mev-Boost development, notes that Jared has a unique approach to bot trading. He owns a large amount of memecoin in his wallet, making it easier to execute orders at a price differential, rather than relying solely on ETH.
With the recent meme coin craze, this strategy has proven to be particularly effective, providing Jaredwith an added boost to his already impressive earnings. While bot trading is legal, the practice of sandwich trading is a controversial issue in the crypto world, with some arguing that it unfairly exploits price discrepancies to the detriment of others.
In conclusion, the story of Jaredfromsubway.eth and his highly profitable MEV bot has once again highlighted the rapidly evolving and often contentious world of cryptocurrency. The rise of automated bot trading is undoubtedly a trend to watch, and the debate around the ethics of sandwich trading is likely to continue.
Source: https://azcoinnews.com/an-mev-bot-earns-tens-of-millions-of-usd-from-sandwich-trading-and-price-arbitrage.html
