Blockchain Snipers Profit $1.3M on JESSE Token Launch
- Two traders, known as snipers, made over $1.3 million in profits during the launch of JESSE tokens.
- The launch involved seeding a liquidity pool with half of the total supply, totaling 500 million JESSE tokens.
- Automated software allowed snipers to acquire 261.7 million tokens within the same on-chain block.
- One winning wallet spent around $191,000, securing 7.6% of the supply and earning over $600,000 after selling.
- The trading strategy leveraged Base’s new feature called “flashblocks,” which allows rapid transaction processing.
- Currently, JESSE has a fully diluted valuation (FDV) of $13.8 million, with trading volume reaching $33.5 million.
The introduction of flashblocks enables snipers to execute trades at lightning speed, capitalizing on new token launches without needing access to private data.
This innovative mechanism has significant implications for trading dynamics within the cryptocurrency market.
Overall, two blockchain snipers successfully extracted over $1.3 million in profits during the JESSE token rollout by utilizing advanced trading strategies and Base’s flashblock technology.
