BlockBeats news: On January 13, according to an analysis by Bubblemaps, former New York City Mayor Eric Adams launched the NYC token. The wallet 9Ty4M, associated with the token deployer, created a one-sided liquidity pool on the Meteora platform. During the token's price peak, the wallet withdrew about $2.5 million in USDC. After the token's value dropped by 60%, it only re-deposited about $1.5 million, resulting in a net profit of approximately $1 million.
NYC Token Deployer Earns $1M through Unilateral Liquidity Pool
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Summary
A recent on-chain analysis by Bubblemaps reveals that a wallet associated with the NYC token, supported by former NYC Mayor Eric Adams, earned approximately $1 million through a one-sided liquidity pool on Meteora. The 9Ty4M wallet withdrew $2.5 million in USDC at its peak, then added $1.5 million back after the token lost 60% of its value. This liquidity strategy demonstrates keen timing and an understanding of market movements.
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