Innovative Trader Outsmarts Bot on NFT Marketplace
A trader known as Hanwe Chang has reportedly made over $1.5 million in Ethereum ($ETH) by outmaneuvering a bot on the NFT marketplace Blur. Hanwe noticed a bot replicating his trades and devised a plan to take advantage of its predictable behavior.
Key Points:
- Hanwe Chang identified a bot mirroring his trades on the NFT marketplace Blur.
- He acquired NFTs by digital artist Azuki and placed high bids to tempt the bot.
- The bot mirrored Hanwe’s bids, allowing him to sell his Azuki NFTs at significant premiums.
- While the NFTs were valued at 5 ETH, Hanwe received 50 ETH for each.
MEV bots, such as the one operated by jaredfromsubway.eth on the Ethereum network, have gained popularity. They exploit Maximal Extractable Value to extract the maximum value from each block. Jaredfromsubway.eth recently surprised the community by returning $1.5 million worth of WBTC and WETH that was unintentionally sent to it.
Hot Take:
This case demonstrates the ingenuity of traders in the crypto space. By understanding and capitalizing on the behavior of bots, Hanwe Chang was able to make a substantial profit. As the crypto market continues to evolve, it is essential for traders to adapt and find innovative strategies to stay ahead.
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