Wintermute Boosts Bearish Exposure on XRP Amid Market Volatility
Wintermute, a prominent market-making firm, has significantly increased its bearish exposure on XRP and Hyperliquid, according to on-chain data from Onchain Lens. The firm's top five short positions include Ethereum, Bitcoin, Solana, Hyperliquid's native HYPE token, and XRP.
The firm's total short exposure has jumped by approximately $45 million since its last update, with Wintermute's XRP short valued at over $10 million.
Interestingly, despite Wintermute's large short position in XRP, it represents only about 0.28% of the total open interest of $3.61 billion.
The data from Onchain Lens also shows that derivatives positioning is decisively leaning towards longs, with Binance and OKX having top-trader ratios of 2.8081 and 2.2136, respectively.