In the past 20 hours, Wintermute has withdrawn $940,000 worth of $SLERF tokens from OKX.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.

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Currently, $SLERF ranks 22nd among Wintermute’s memecoin holdings, based on the $940,000 withdrawn from OKX.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.

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

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