According to Odaily, an operator using the ENS domain 'jaredfromsubway.eth' has spent over 210 ETH, equivalent to approximately $810,000, on gas fees on the Ethereum network in the past day. Data from Etherscan reveals that this amount accounts for nearly 1.5% of all gas fees on the network during this period, making it the address with the highest expenditure on gas fees on the Ethereum network.
The bot is involved in high-frequency trading, particularly targeting on-chain meme coin traders. Ethereum meme coins have recently seen a resurgence. From February 2023 to June 2024, the bot spent a total of 76,916 ETH. Calculated at the value at the time of these transactions, this is approximately $175 million.