Most active MEV bot named after notorious sex offender Jared Fogle spends over 37,000 Ethers on gas and counting
As such, this bot becomes the largest Ethereum wallet in terms of gas spending. To provide context, the second position is occupied by one of Binance-controlled wallets with over 7.73 million transactions. It spends on gas less than half of what Jared From Subway transferred to Ethereum validators.
It should also be noted that the Ethereum gas price inches closer to multi-month lows. The current gas price is 9.39 Gwei, which means that one Uniswap exchange is charged with approximately a $4 fee, as per Etherscan.The Ethereum community is thrilled by such impressive statistics of an Ethereum MEV bot. Meanwhile, the net profit or PnL data for the account are yet to be calculated.
As covered by U.Today previously, MEV bots are responsible for the majority of trading activity on DEXes. For instance, 80% of Uniswap's trading volume across all pairs is generated byMEV bots are automated mechanisms designed to frontrun pending trades in the Ethereum mempool by corrupting validators with higher fees. Once the bot identifies a large transaction, it can manipulate the price of this or that asset and execute the deal with a more attractive price.
The first signs of activity from the jaredfromsubway.eth-backed bot were registered in February 2023. Experts say that its algorithms are more sophisticated: It managed to have its transactions included in over 60% of Ethereum blocks. In April 2023, it was spending over $1.1 million on gas daily.The bot is named after Jared Scott Fogle, a spokesperson of the American fast food chain Subway.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
I ditched AirPods Pro for Bowers & Wilkins Pi7 S2 earbuds, and they're $70 offBowers Wilkins Pi7 S2 price is high at $399. But an Amazon deal right now saves you $70 on the best active noise cancelling earbuds.
Read more »
‘NFTs will win on Bitcoin’ — OnChainMonkey NFT collection ditches EthereumNFT creators Metagood will soon migrate 10,000 of its OnChainMonkey NFTs from Ethereum to Bitcoin as new Ordinals inscriptions, says CEO Danny Yang. The firm will, however, need to fork out over $1 million to ensure the migration runs smoothly.
Read more »
Ethereum (ETH) to Enter New Era With Binance's Latest IntegrationEthereum utility expected to rise with latest integration
Read more »
Mystery: Dormant Ethereum ICO Address Finally Moves ETH AwayThere were several major ETH transfers in the past 24 hours, including one worth over $80 million.
Read more »
Ethereum’s proto-danksharding to make rollups 10x cheaper - Consensys zkEVM Linea headConsensys zkEVM Linea lead Nicolas Liochon unpacks the importance of proto-danksharding in reducing costs of zero-knowledge rollups.
Read more »
Ethereum’s proto-danksharding to make rollups 10x cheaper — Consensys zkEVM Linea headConsensys zkEVM Linea lead Nicolas Liochon unpacks the importance of proto-danksharding in reducing costs of zero-knowledge rollups.
Read more »