Validators running the Ethereum network saw a surge in profits from MEV-Boost payments over the past weekend due to the craze around meme coin PEPE. The total revenue, including transaction fees, nearly matched what validators made during the trading frenzy that accompanied the collapse of Sam Bankman-Fried’s FTX crypto exchange.
MEV, or maximal extractable value, is a feature of crypto trading that represents the amount of additional income that validators can earn by optimizing the order of transactions within a block. The main tool that Ethereum validators use to overcome some controversial MEV practices is MEV-Boost, a software created by Flashbots. Since 85% of Ethereum validators are connected to MEV-Boost, most of the data reflecting MEV activity is captured through that.
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