New York's former mayor, Eric Adams, recently launched a token called "New York City Token" ($NYC), claiming it was intended to combat anti-Semitism and anti-American sentiment. The token's market value initially surged to $600 million, but then rapidly plummeted to less than $100 million. Blockchain analytics platform Bubblemaps revealed that a wallet associated with the token deployer, 9Ty4M, created a one-sided liquidity pool on the Meteora platform. During the token's price peak, the wallet withdrew approximately $2.5 million in USDC. After the token's value dropped by 60%, the wallet only re-injected about $1.5 million, netting a profit of approximately $1 million.
NYC Token Deployer Earns $1M via Unilateral Liquidity Pool Strategy
TechFlowShare
Summary
A wallet linked to the NYC token deployer, 9Ty4M, used a liquidity pool strategy on Meteora to generate a $1 million profit. During the token's peak, the wallet withdrew $2.5 million in USDC and later re-added $1.5 million after a 60% price drop. The move highlights how liquidity can be leveraged for gains. Traders are now watching altcoins for similar opportunities.
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