An MEV bot named Jaredfromsubway raised $34 million in three months as a result of arbitrage and fast trading.
The popularity of MEV bots in the crypto industry is increasing day by day. This software tool can make its user rich as a result of the transactions it performs in the crypto money market.
Especially in the Ethereum network, it is observed that bots receive intensive transactions and earn large amounts of money. Finally, an MEV bot raised $34 million in three months. This profit comes from arbitrage and fast trading.
MEV Bot Makes Money with Arbitrage and Fast Trading
MEV bots, which generally prefer the Ethereum network, make money in arbitrage transactions and fast trading called sandwich attack. These quick trades follow any trader’s order and trade accordingly.
The Jaredfromsubway MEV bot, created in February, also earned millions of dollars with these methods. The bot, created by one or more anonymous users, put $34 million in its vault. This algorithm, which jammed other crypto users on the network and allowed high-frequency fast trades, quickly became a phenomenon.
According to EigenPhi, this mev bot could occupy 60 percent of the Ethereum network as it becomes active and earns more money. A developer nicknamed Nox said that Jaredfromsubway has identified more MEV opportunities.
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