What Happened on April. 20th | What Caused the Mainnet Gas Soaring?

Dune Analytics (Ethereum Gas) data shows that in the past 24 hours, jaredfromsubway.eth (the address starting with 0xae2 in the picture) has spent gas worth 650 $ETH, valued at approximately $1,291,708, accounting for 7.1% of the entire network's data; in the past week, the address has spent 1,910.29 $ETH, valued at approximately $3,915,090, accounting for 5.61% of the entire network's data.

According to the analysis, jaredfromsubway.eth is a MEV bot with a passion for meme coin trading (e.g. PEPE, WOJAK, etc.). Etherscan data shows that jaredfromsubway.eth has been trading at a high frequency in seconds, which means that its operations cover almost every Ethereum block.

Many KOLs on Twitter have also been saying that their trading has been sandwiched by jaredfromsubway.eth.

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Headlines

Coinbase Receives License in Bermuda, Plans to Launch Offshore Derivatives Exchange Next Week: Coinbase recently announced it has obtained a Class F License under the Digital Asset Business Act from the Bermuda Monetary Authority (BMA).

Dubai and Hong Kong discuss virtual asset license passport plan: Dubai is discussing cooperation with Hong Kong in the field of virtual assets, including the license passport plan, but has not yet revealed the implementation timetable.

a16z to Launch Magi, an Optimism-based Rollup Client: a16z announced it will launch an OP Stack rollup client called Magi. Written in Rust, Magi aims to offer an alternative to op-node, the existing rollup client.

Sui to Launch Mainnet on May 3rd

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Maple Finance Launches U.S. Treasury Bill Pool for Crypto Investors

Deribit to Launch Zero-Fee Spot Trading on April 24th

SPACE ID to Expand to Sei Network

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Fundraising

Binance Labs Invests in South Korean Blockchain-based Game Developer GOMBLE

Layer 1 Blockchain Berachain Closes $42 Million in Funding Led by Polychain Capital