I've been digging in to Winter mute's play this days.
Here is what they have been doing latey.
1. Accumulating Altcoins (especially Sol memecoins)
Wintermute has quietly built substantial positions in Solana memecoins like MICHI (5.56M ≈ $1.4M, now potentially the 3rd-largest holder) and GOAT (14.3M)
2. Liquidity Provision & CEX Strategy
They’re active market makers across 50+ venues
In June 2024, they deposited 12.3M ARB (~$12M) to Binance after withdrawing from Coinbase
In early 2025, Binance reportedly transferred ~$20M in BTC, ETH, SOL to Wintermute. Analysts suggest this was used for liquidity provision or orchestrated sell pressure
3. Strategic Portfolio Clearing
Around mid-June 2025, Wintermute’s movement of tokens from wallets to CEX triggered a massive 80% drop in a ZKJ memecoin—part of a liquidity play to liquidate and rebalance
On-chain metrics show increasing smart account activity on L2 chains like Base and Optimism—these are likely Wintermute’s automated liquidity bots preparing for deeper engagement.
Maybe... really maybe the alt season is really close
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