wintermute

Wintermute released a cryptocurrency market briefing indicating that market sentiment is improving and risk appetite is on the rise. Bitcoin (BTC) is still oscillating in the range of $105,000 to $107,000, showing resilience, but to drive the altcoin market, BTC may need to approach historical highs further. In the short term, U.S. regulations and political news will become new volatility drivers.This week, the market tone has significantly improved compared to last month. With the October sell-off settling down, investors are repositioning into selective risk assets. Trump's proposal for a "2000 USD tariff rebate" briefly boosted risk sentiment, while the easing of the U.S. government shutdown and weakening macro data also provided support to the market. However, capital inflows remain limited, and crypto assets are still the weakest asset class.By sector, DePIN, L2, AI, and DeFi sectors are leading in gains, but the overall market breadth remains narrow, with a few strong coins accounting for the main increases. Funds are still concentrated in mainstream coins, lacking sustainability in the pursuit of altcoins.Overall, the market structure is improving, and sentiment recovery is evident. Crypto assets may be in a transitional phase from bottoming out to upward movement. If BTC can break through its previous highs first, funds are expected to spread again, driving a broader altcoin rebound.

Wintermute stated in its latest market report that despite the ongoing global liquidity expansion, major central banks cutting interest rates in succession, and the end of quantitative tightening, the stock market remains at high levels. However, incremental funds have not flowed into the crypto market but have instead moved more towards stocks, AI, and prediction markets, with only stablecoin supply continuing to grow.The report pointed out that the traditional "four-year cycle" theory is no longer applicable to the current market landscape, and the core driving force behind price movements today is macro liquidity. Wintermute believes that the current market structure remains robust, leverage risks have been fully cleared, and volatility is relatively controllable. However, the true recovery of the crypto market still relies on the restart of fund inflows from ETFs and DAT (tokenized asset trading).

Wintermute CEO denies rumors that it is suing Binance, stating on X that the rumors are unfounded, "We have never had plans to sue Binance, and there is absolutely no reason to do so in the future."

According to ChainCatcher news, analyst Yu Jin monitored that a large holder who received an investment allocation of 30 million UNI in 2020 transferred 1.882 million UNI (approximately 11.61 million USD) to Wintermute 6 days ago, and then transferred 2.5 million UNI (approximately 15.75 million USD) to the same address, suspected of preparing to continue selling. The address still holds approximately 24.9 million UNI (worth 149 million USD).

ChainCatcher news, Wintermute founder Evgeny Gaevoy stated during The Block's podcast that "the collapse event is the result of multiple factors. On one hand, there is indeed more leverage in the system; on the other hand, the market has more types of tokens, more perpetual contract products, and more large platforms trading these perpetual contracts. Looking back three or four years ago, we didn't have so many perpetual contract products with huge open interest and hidden risks of collapse. In terms of market maturity, although it is indeed more complete and sophisticated than in the past, this development has also given rise to many problems. It is still unclear who exactly 'liquidated' and who suffered the most losses, but I suspect that many institutions with significant losses were actually running long-short hedging strategies, such as shorting Bitcoin while going long on certain altcoins, thinking this would hedge their risks, only to be 'slapped in the face' by the ADL mechanism."

According to ChainCatcher's message, on-chain analyst Yu Jin monitored that an institutional address, which received an allocation of 30 million UNI in 2020, transferred 1.697 million UNI to the market-making institution Wintermute in the past 5 hours, worth approximately 10.29 million dollars.After the transfer, the address still holds about 24.9 million UNI, with a total value of approximately 149 million dollars at the current price.

ChainCatcher news, Wintermute founder wishful_cynic posted on social media regarding community speculation about "Wintermute collapsing in this downturn": "I'm sorry to disappoint you, but Wintermute is perfectly fine, everything is as usual."

ChainCatcher news, Zhao Changpeng responded on social media to the statement "Zhao Changpeng hunted and eliminated Wintermute," saying that he hasn't seen

ChainCatcher message, regarding the market rumors of "Crypto.com and Wintermute allegedly facing a crisis," Crypto.com CEO Kris Marzsalek commented that "the system is running perfectly, and this is baseless FUD"; Wintermute team BD and partnership member Arnaud stated that this claim is a rumor.

ChainCatcher news, according to Lookonchain monitoring, a certain OTC trading whale sold 20,830 ETH through Wintermute in the past 10 hours, worth 98.3 million USD; additionally, a certain OG trader deposited 4,000 ETH to Kraken in the past 5 hours, worth 17.31 million USD.

ChainCatcher news, according to Protos, Wintermute research shows that nearly half of the Ethereum Improvement Proposal 7702 (EIP-7702) user authorizations are associated with criminal activities such as phishing and fund theft.The report states that since May 7 of this year, users have activated this feature 1,580,930 times, with the Wintermute team marking 768,275 instances (48%) as crime-related. This sharply contrasts with Vitalik Buterin's earlier claim that this temporary smart contract feature would provide users with "superpowers" and "guardrails."EIP-7702 allows users to temporarily convert their signed accounts into smart contract wallets during transactions, aimed at enhancing user experience and security.

ChainCatcher news, according to on-chain analyst Yu Jin (@EmberCN), a certain whale/institution that previously made a profit of $76.05 million through ETH band trading purchased 10,000 ETH worth $42.3 million half an hour ago via Wintermute.On the same day, after the drop in ETH, the whale accumulated a total of 20,000 ETH, with a total expenditure of 85.956 million USDC and an average purchase price of $4,298.

ChainCatcher news, according to Businesswire, the Bitcoin company DDC Enterprise Limited, listed on the NYSE, announced a partnership with Wintermute.It is reported that this collaboration will enable DDC to access Wintermute's OTC liquidity in the spot and derivatives markets, thereby accelerating its Bitcoin accumulation strategy and enhancing its execution efficiency in the global digital asset market.

ChainCatcher news, according to market news, BitMEX co-founder Arthur Hayes may be purchasing ETH through Wintermute, as his address transferred 500,000 USDC to Wintermute Deposit 37 minutes ago and subsequently received 110 ETH.

ChainCatcher news, according to Onchain Lens monitoring, a certain whale sold 10,000 ETH through Wintermute OTC, worth 43.35 million USD, and then supplied USDC to Aave V3. The whale still holds 10,003.66 ETH, worth 43 million USD (staked), and currently has 535 million USD in USDC on Aave V3.

ChainCatcher message, according to Onchain Lens monitoring, a certain whale (0x8f3...8d5) has withdrawn 2,318 ETH, worth 9.94 million dollars, from Wintermute and Kraken in the past 20 hours.This address has made a large transaction again after 6 months, currently holding 5,191 ETH, with a total value of 22.31 million dollars, and an unrealized profit of 4.45 million dollars.

ChainCatcher message, Wintermute will provide liquidity support for Manta Network. Manta Network officially announced a liquidity cooperation agreement with the market maker Wintermute.Manta lends 7.5 million MANTA tokens to support Wintermute in enhancing the liquidity and trading depth of MANTA tokens on various trading platforms.