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Data: A certain wallet's assets increased from $5,000 to $133,000 in two months solely through ETH transactions on Lighter.
CoinVoice has learned that, according to MLM monitoring, a certain wallet deposited 5,000 USDC into Lighter about two months ago, only trading ETH. Its assets seem to have grown to approximately $133,000 (about 26.6 times / return rate of approximately +2,560%).
In the past 7 days, this address appears to have accounted for about 59% of the ETHUSD takedown trading volume on Lighter (1.72 billion USD) and about 9% of the total ETHUSD takedown trades (approximately 115,000 trades).
Based on Lighter’s API and blockchain explorer data, this account seems to trade with zero fees, and aside from the initial $5,000, no other fund transfers in or out are shown. Using a takedown algorithm to trade and profit does not constitute wash trading, as wash trading requires matching orders with oneself. Considering its initial scale, this performance warrants attention.