Wintermute Bets on Downside, Logs $222 Million in Cumulative Profit on Hyperliquid

Global crypto market maker Wintermute has racked up sizable cumulative profits on Hyperliquid, according to on-chain analytics account Onchain Lens.Onchain Lens said on November 7 that Wintermute had recorded $222 million in cumulative profit on Hyperliquid.Wintermute's current open positions total about $125.87 million, with $115.76 million of that in short positions betting on prices to fall. That represents roughly 92% of its total positions.Its main short positions are Ether at $26.16 million, Bitcoin at $19.79 million, Hyperliquid (HYPE) at $15.23 million and Solana at $12.72 million.Over the past 30 days, the firm posted a profit of $18.83 million, while unrealized gains were estimated at about $3.46 million.