Summary of the performance of seven market makers including Jump Trading, Wintermute, Amber Group, etc., in this bull market cycle, detailing their capital amounts, holdings, and market-making styles. The article is sourced from Crypto AI Yi and compiled, translated, and authored by Deep Tide.
Tweet
(Prior context: SOL Could Rise Nine Times More? Market Maker GSR: Solana’s Performance Expected to Outpace Bitcoin After Launching Spot ETF)
(Background supplement: “740 Projects in Two Years” – DWF Labs, adept at market manipulation, seeks to clear its name?)
Table of Contents
Preface
Market Maker Capital Amounts
Wintermute: Participation Rate of Four Major Titans at 100%
Over the past six months, Wintermute has shown two distinct changes in significant holdings
GSR Markets
DWF Labs: High-profile Entry into Meme Racing and TON Ecology
Amber Group & Flow Traders
Specific Holdings of Other Market Makers
Renowned Crypto KOL Ai Yi summarizes the performance of seven major market makers including Jump Trading, Wintermute, Amber Group, etc., in this bull market cycle, including detailed analysis of their capital amounts, holdings, and market-making styles. The full repost is as follows:
Finally got around to the task that’s been nagging for six months
Summarizing the market activities of seven major market makers this bull market: Jump Trading / Wintermute / Amber Group / DWF Labs / B2C2 / GSR Markets / Flow Traders.
– Wintermute’s participation rate among the four titans is 100%
– DWF Labs made a high-profile entry into meme racing and the TON ecosystem
– Amber and Flow Traders have significantly increased their activity
As usual, to enhance data accuracy, only publicly verifiable parts of the market-making projects from the image statistics were selected. Feel free to supplement any omissions in the comments.
As of 2024.06.27, ranked by on-chain capital amounts from highest to lowest:
Jump Trading: $673 million
Wintermute: $475 million
GSR Markets: $86 million
Amber Group: $50 million
DWF Labs: $41 million
B2C2: $37 million
Flow Traders: $3.9 million
Here are some key points summarized :
Nearly all high market value tokens in this bull market have Wintermute’s presence. Among the four titans (OP/ARB/STRK/ZK), except for ZK lacking clear data support, all are involved in market-making with massive token quantities.
Additionally, Wintermute has become the second-largest market-making institution in terms of Robinhood’s share, with trading revenues accounting for as much as 10%.
1. As of 2023.11, the holdings of $ARB, ranked TOP1, sharply decreased (from $39.73 million to $2.57 million), corresponding to frequent information on ARB deposits into exchanges.
2. As an ENA market maker, Wintermute holds $16.29 million worth of related tokens ($10.01 million USDE + $6.28 million ENA).
Popularly known as the “Market Maker for Binance” , their recent involvement in Launchpool projects has indeed been significant.
It should be noted that the previous TOP1 asset $WLD in GSR holdings has decreased by nearly 87% (from $13.06 million to $1.66 million), replaced by $GALA, currently holding $9.88 million in tokens, with little change in the past half-year.
DWF Labs is undoubtedly the most active market maker in this bull market — in early February, it rapidly boosted various altcoins such as FET/JASMY, and in May, amidst the Meme boom, announced investments in projects like FLOKI/TOKEN/GME, deeply involved in the Ton ecosystem.
They are truly seizing every hotspot and running the “VC + MM” model to great success
These two market makers may not have the same level of fame as the aforementioned three, but their presence has been significant in recent months, especially Amber, participating in narratives such as liquidity staking/L2/interoperability protocols.
Currently, Amber holds $12.74 million worth of ZRO, while Flow Traders’ top holdings are BTC/ETH and the DeFi tokens UNI/MKR from the previous bull market.
Most market makers have seen significant increases in their capital amounts. Apart from factors like “exchange capital flowing to the chain,” the first half of the year’s bullish market has indeed allowed MM to profit, such as GSR publicly stating “income doubled year-on-year in the first half of the year.”
For those interested in holdings, check out the Arkham panel for more details, which won’t be expanded upon here
https://platform.arkhamintelligence.com/dashboards/view?dashboardID=77ad9d95-8d52-4958-a6ab-1c807db155f2
Related Reports
Wintermute Market Makers Enter Hong Kong! Announce Providing Liquidity for Local Bitcoin, Ethereum Spot ETFs
Market Maker QuantMatter Explodes with $11 Million Theft on OKX, Xu Mingxing: Withdrawals Subject to Double Verification, Under Investigation
Understanding Market Makers: How Do They Manipulate Markets and Self-Interest in Gray Areas?