Wintermute increased short exposure on Hyperliquid to $190.77M across major assets, betting on price declines.
DeFi & Yields ·
Wintermute has expanded its bearish bets on Hyperliquid, lifting short exposure to $190.77 million from a prior $146.19 million through an additional $44.58 million in new positions. The trader's largest shorts are concentrated in Ethereum at $53.02 million, followed by Bitcoin at $30.66 million, Solana at $22.62 million, Hyperliquid's native token at $11.43 million, and XRP at $10.19 million. The position is currently underwater, with unrealized losses standing at $5.85 million across the address 0xecb63caa47c7c4e77f60f1ce858cf28dc2b82b00.
The escalation follows prior activity in which Wintermute held $160.03 million in open Hyperliquid positions, combining $146.19 million in shorts with $13.85 million in longs. At that time, the combined position showed a $3.66 million unrealized loss while collecting $2.14 million in funding income, with lifetime gains tallied at $203.55 million.
It remains unclear whether this expanded short positioning reflects a directional macro view or a hedge against other holdings, or how the trader's concurrent moves to transfer funds to Binance—mentioned in initial reports—relate to the Hyperliquid shorts strategy.