Wintermute Emerges as an Early Market Maker for Memecoin $SLERF, Underscoring Its Strategic Positioning in the Market

In the past 20 hours, Wintermute has withdrawn $940,000 worth of $SLERF tokens from OKX. However, this may not signify a new development.

Over the past 20 hours, market maker Wintermute has withdrawn $940,000 worth of $SLERF tokens from OKX. This development comes as no surprise, as Wintermute has been serving as a market maker for $SLERF since at least eight months ago, when the token was at its peak.

However, what’s interesting is that Wintermute has been using an unmarked address to carry out its market-making activities for $SLERF. This address, MfDuW…MGVWa, has been actively trading memecoins on decentralized exchanges, with a particular focus on high-frequency market-making.

Several factors indicate that this address is linked to Wintermute:

1. Token Overlap: This address holds a range of memecoins, including MOODENG, BONK, ACT, and PONKE, which aligns closely with Wintermute’s known portfolio.

2. Frequent Fund Transfers: The address has a long history of transactions with Wintermute’s marked addresses, dating back 10 months.

3. Exchange Interactions: Binance and OKX deposit addresses are among its most frequent transaction partners, with consistent fund transfers to these platforms over time.

Given these observations, it’s highly probable that this address belongs to Wintermute and that the firm began its $SLERF market-making activities as early as March 24, 2024—or possibly even earlier.

Currently, $SLERF ranks 22nd among Wintermute’s memecoin holdings, based on the $940,000 withdrawn from OKX. This activity further highlights Wintermute’s strategic positioning in the memecoin market.

As a reminder, this is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.