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Crypto DeFi

Wintermute Holds $160M Perp Shorts, $3.57M Unrealized Loss

Wintermute’s wallet (0xecb…2b00) is holding $160 million in perpetual futures shorts against an unrealized loss of $3.57 million. The position includes $53.05 million short ETH, $26.66 million short BTC, $17.84 million short SOL and $11.62 million short HYPE, with 30-day trading volume of $16.91 billion.

Original source

AI take

A market maker of Wintermute's scale running a broad short book across majors and newer tokens is less a directional bet than a hedge against its own flow, so the modest unrealized loss says little on its own. What stands out is the composition: sizeable shorts in ETH, BTC and SOL sit alongside HYPE, a token still finding its liquidity base. The open question is whether this positioning reflects genuine two-way demand Wintermute is absorbing or a one-sided skew, which would matter for how these books unwind.

Generated by AI for reference only.

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