In the past 20 hours, Wintermute has withdrawn $940,000 worth of $SLERF tokens from OKX.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

Evidence suggests that Wintermute has been serving as a market maker for $SLERF since at least eight months ago, when the token was at its peak.

Beyond the recent withdrawal, an additional $30,000 in $SLERF tokens was transferred from the address MfDuW…MGVWa, which is strongly linked to Wintermute. Several factors reinforce this connection:

1. Token Overlap: The memecoin holdings of this address, including MOODENG, BONK, ACT, and PONKE, align 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.

Wintermute 过去 20 小时从 #OKX 提出价值 94 万美金的 SLERF，但事实上：Wintermute 或许早在八个月前 $SLERF 热度最高的时候就已成为其做市商了，这并不是一个「新变化」🔍

除 OKX 提出资金外，还有价值 3 万美金的代币是从地址 MfDuW…MGVWa 转移过来的，而这个地址极有可能归属于… https://t.co/6ARswDYHYH pic.twitter.com/PD8D0zZbzg

— Ai 姨 (@ai_9684xtpa) November 15, 2024

These findings strongly suggest that the address is an unmarked Wintermute wallet dedicated to high-frequency market-making on decentralized exchanges. If accurate, this would mean Wintermute 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Currently, $SLERF ranks 22nd among Wintermute’s memecoin holdings, based on the $940,000 withdrawn from OKX.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 underscores Wintermute’s strategic positioning in the memecoin market, utilizing unmarked addresses and decentralized exchanges to facilitate high-frequency trading.

已将 SLERF 更新至 Wintermute Memecoin 做市项目一栏图中

按照 OKX 转出金额 90 万美金排序，目前 SLERF 在 Wintermute Memecoin 持仓中排名第 22（已同步更新其他 Meme 代币市值）👇 pic.twitter.com/z9VyX3TcqJ

— Ai 姨 (@ai_9684xtpa) November 15, 2024

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

The post Wintermute’s $SLERF Activity Suggests Longstanding Market Maker Role appeared first on The Merkle News.