Uniswap V3 ETH/USDC swap surge records 67 transactions in 1000 blocks.
On-chain:
- 0x6deeef94bdb024ccadcc5deab59711a2d43075f89be8ba16c4ab8cc8cc1ac8aa (sample tx) holds 50 USDC, swapping 5 ETH for 50 USDC
- 1.8 ETH swapped per transaction, totaling 121.4 ETH
- 25 unique wallets participate, 13 wallets hold < 1 ETH
Flow:
- 14 wallets hold 50 USDC or less, swapping 35 ETH
- 7 wallets hold 1-5 ETH, swapping 45 ETH
- 4 wallets hold 5-10 ETH, swapping 41 ETH
Risk:
- Thin liquidity on ETH/USDC pool