Wintermute opened $126.25M in shorts across Hyperliquid, primarily on ETH ($46.92M) and SOL ($11.30M).
DeFi & Yields ·
Wintermute has established a $126.25M short position across Hyperliquid, with the largest single bet being a $46.92M short on ETH. The trading firm's portfolio of short positions also includes an $11.30M wager against SOL and a $10.03M position against HYPE, according to on-chain monitoring.
The positions have generated approximately $963.6K in unrealized gains since their initiation. Over a longer timeframe, the address associated with these trades—0xecb63caa47c7c4e77f60f1ce858cf28dc2b82b00—shows cumulative profits of $197.22M.
The motivation behind the timing and size allocation across these three assets remains unclear. The data does not indicate whether these shorts represent a new bearish thesis or adjustments to an existing strategy, nor does it specify the leverage or funding rates at which the positions were opened.