This crypto wallet makes $700,000 per year.
1/ I found this whale when he was dumping tokens on a DEX. He kept selling and selling, all on one pair. Intrigued, I made the decision to dig deeper…
2/ After analyzing his wallet, I realized that he is engaged in On-Chain Arbitrage. I dissected his wallet using: •
@zerion •
3/ From the history of his transactions, it immediately became clear:
- wallet makes transactions every 5 to 10 minutes
- likely uses a bot instead of doing it manually
But how does he make money from it?
4/ This is called: On-Chain Arbitrage.
A simple example from his transaction history:
- bought the token LQTY on the ERC-20 network
BRIDGED IT (relocating tokens from one network to another)
- sold the token LQTY on the Arbitrum network
5/ Through each new arbitrage transaction:
• he makes from ~$20 to ~$100 in profit
• when the price equalizes too quickly on both networks = he makes 0
But here’s when he cashes in BIG on every transaction
High volatility = big profits.
• He bought: 467,442 OX on ETH Chain
• And sold: 467,442 OX on BNB Chain Total PNL: +~$1950 The arrest of Su Zhu caused a wild dump in the value of OX. Our whale seized the opportunity.
6/ In just one year, he raked in a whopping profit of +$700K (thousands of arbitrage transactions) Here is his wallet, where you can check his transaction history. DYOR: 0xca74f404e0c7bfa35b13b511097df966d5a65597
