In the past few days, the gas price of the Ethereum mainnet has risen significantly, and has basically remained high at around 50 GWEI, which has troubled many users who are accustomed to operating on the mainnet.

Why did gas suddenly go up abnormally? Of course, there are factors for the rising enthusiasm for trading after the market turns better, but according to the investigation of many "detectives" in the community, the situation seems to be not just that simple.

Several KOLs, including 0xfoobar, found after investigation that the culprit of the gas price increase in the past few days can be roughly located at an address 0xae2Fc483527B8EF99EB5D9B44875F005ba1FaE13 whose ENS resolution domain name is jaredfromsubway.eth.

According to the analysis, jaredfromsubway.eth is a MEV robot that loves meme currency transactions (such as PEPE, WOJAK, etc.). In the past 24 hours alone, this address has initiated more than 55,000 transactions.

EtherscanThe data shows that jaredfromsubway.eth has been conducting high-frequency transactions in seconds, and the interval between each round of transactions is about 12 seconds, which means that its operations will cover almost every block.

The two transactions that occurred in the same block at 10:01:23 today can be regarded as a typical operation method of jaredfromsubway.eth. In the transaction starting with 0x4840, jaredfromsubway.eth exchanged 2.076 ETH for 25,877,592,751 PEPE, and then exchanged all these PEPE for 2.098 ETH in the transaction starting with 0xfa48.

analyzeanalyze, excluding the gas cost, the address can make a profit of 466,000 US dollars in one day.

Affected by the high-frequency operation of jaredfromsubway.eth, the gas of the Ethereum mainnet has also been pushed up.

Dune Analytics (homepage:Ethereum Gas) data shows that in the past 24 hours, jaredfromsubway.eth (the address starting with 0x ae 2 in the figure) consumed 535.18 ETH in gas alone (in this way, a single transaction consumes about 0.01 ETH), worth about 1,119,969 US dollars, accounting for the entire network data 8.3%; and in the past week, this address has consumed 1007.29 ETH, worth about $2,096,850, accounting for 3.79% of the entire network data.

Beetle, a research analyst at The Block, gave a more intuitive view, comparing the gas consumption of jaredfromsubway.eth and everyone else in the past 24 hours, enough to see the impact of one person on the main network gas fluctuations.

The crazy operation of jaredfromsubway.eth also triggered heated discussions on CT. Some people hold a supportive attitude, thinking that the address is making reasonable use of network rules and accelerating the deflation of ETH; some people hold a general attitude, but think that their main network operation is not so convenient; The transaction was caught by jaredfromsubway.eth, and I lost a pig's foot meal...

With the surge of meme coins such as PEPE, many new wealth myths have appeared in the market in the past few days, but from the analysis of the chain, jaredfromsubway.eth may be the biggest winner behind this round of meme feast.