Hyperliquid's two major market makers simultaneously withdrew BTC liquidity, reducing their positions by nearly 100 million USD in total
During the recent market volatility, the two major institutional market makers on the Hyperliquid platform significantly reduced their positions. In the past 2 hours, the Auros Global market-making address closed all positions on the platform and withdrew approximately $6 million to Binance. Previously, this market maker provided liquidity for 175 cryptocurrencies, with a market-making scale of $45 million for BTC alone.
At the same time, Wintermute also significantly reduced its market-making exposure on Hyperliquid. According to Hyperinsight data, its liquidity provided for BTC and ETH has decreased by about 90%, with the combined market-making scale for the two major cryptocurrencies dropping from approximately $40 million to $4 million. Although Wintermute still holds positions in 111 cryptocurrencies and maintains high-frequency orders, its total position size has decreased from nearly $80 million to $41 million. The total estimated reduction in positions by the two market makers could reach $100 million.
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