Lately, I keep getting asked: who exactly does this on-chain “queue jumping” screw over? Others think MEV is just someone quietly earning a bit of extra pocket change—yet in reality, the moment you hit confirm, things like the execution price, slippage, and even whether your transaction gets filled can be affected by having the transactions “reordered,” especially for small but frequent swaps. The more urgent you are, the easier it is to get squeezed into a sandwich.

To put it plainly, the ones most affected aren’t the “smart money,” but those beginners who chase the latest hotspots, rush to get in, and still love setting high slippage… You think you’re lining up in order in the market, but on-chain it’s more like whoever tips more gets on the bus first.

Recently, I also saw some commentary tying ETF fund flows and US stock risk appetite to the ups and downs of the crypto market, and it sounds pretty reasonable. But all this micro-level on-chain game theory doesn’t care about big narratives—if you’re in a hurry, it will come for you. Anyway, I’d rather confirm one or two fewer times now; being slower is fine.