Someone Just Spent $200K
on a Solana Priority
Fee—
It Didn’t
End Well
Someone Just Spent $200K on a Solana Priority Fee—It Didn’t End Well
A Solana trader paid over $200,000 in fees to try and snipe a new AI-themed
meme coin• Отдых, развлечения » Хобби » Коллекционирование » Нумизматика » Монета, then immediately sold at a substantial loss. Why?
By Logan Hitchcock
Jan 8, 2025 Jan 8, 2025
3 min read
Image: Unsplash
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A Solana user paid a $200,000 priority fee to be among the first to buy a new
meme coin• Отдых, развлечения » Хобби » Коллекционирование » Нумизматика » Монета , only to sell minutes later for an $89,000 loss—and that’s besides
eating the hefty fee.
The user, whose Solana address begins 4MyY, purchased 174 million tokens of
the meme coin• Отдых, развлечения » Хобби » Коллекционирование » Нумизматика » Монета “AI Deborah” for $96,000 or 495 SOL• Отдых, развлечения » Хобби » Коллекционирование » Нумизматика » Монета » Соль (монета), but paid an additional
priority fee of 1,068 SOL• Отдых, развлечения » Хобби » Коллекционирование » Нумизматика » Монета » Соль (монета) ($207,000) to have the transaction picked up quickly
by validators before other interested traders. Three minutes later, the user
sold the entire position for just under $8,000.
The priority fee is an optional feature often utilized by meme coin• Отдых, развлечения » Хобби » Коллекционирование » Нумизматика » Монета traders in
an attempt to have their transactions recognized by validators of the Solana
blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн before others. While it adds financial risk, it often allows
traders to purchase tokens at lower market caps immediately after the launch
of a token. Sometimes it pays off .
User 4MyY attempted to do the same thing using Telegram-based trading app
Bloom Bot, which allows users to manually set their priority fee and other
settings prior to trading. Using the 1,068 SOL• Отдых, развлечения » Хобби » Коллекционирование » Нумизматика » Монета » Соль (монета) priority fee, the user was able
to land one of the first 10 purchases of the token, and nabbed more than 17%
of the AI Deborah supply, according to data from DexScreener .
Though many users on X (formerly Twitter) suspected this may have been a “fat
finger” mistake or an unintentional error, pseudonymous Bloom Bot owner Traian
told Decrypt the user manually set the fee and had the max tip set even
higher, suggesting it was an intentional pursuit.
The platform’s owner has promoted other high-profile trades using major
priority fees on X. For example, one user recently paid a $58,000 priority fee
to buy meme coin• Отдых, развлечения » Хобби » Коллекционирование » Нумизматика » Монета CATG directly after launch.
Not all meme coin• Отдых, развлечения » Хобби » Коллекционирование » Нумизматика » Монета trades require major priority fees. For reference, competing
meme coin• Отдых, развлечения » Хобби » Коллекционирование » Нумизматика » Монета trading platform Photon defaults its user settings to a 0.001 SOL• Отдых, развлечения » Хобби » Коллекционирование » Нумизматика » Монета » Соль (монета)
priority fee, just $0.19.
While sophisticated traders paying a high priority fee can result in major
losses, it can also lead to major gains. The same user that lost more than
$200,000 on AI Deborah notched a gain of more than $1.3 million after sniping
the launch of token HTERM earlier this week.
Meme coin• Отдых, развлечения » Хобби » Коллекционирование » Нумизматика » Монета trading has become increasingly popular of late, as evidenced by
meme coin• Отдых, развлечения » Хобби » Коллекционирование » Нумизматика » Монета launchpad Pump.fun being responsible for more than 70% of all token
launches on the Solana blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн last weekend. Several meme coins now sit
within the top 100 most valuable cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта, ranked by market cap.
Trading meme coins, or tokens typically based on memes or pop culture
references, is inherently risky. Such coins are often much more volatile than
rival coins that are more established or have utility, and meme coins can just
as quickly plunge to zero .
Meme coin• Отдых, развлечения » Хобби » Коллекционирование » Нумизматика » Монета traders hope to rack up more wins than losses—as this one apparently
did with their recent trades, despite the apparent misplay.
Edited by Andrew Hayward
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