Market Makers Reduce Positions Amid Volatility

On May 18, significant market volatility led to notable actions by major market makers on the Hyperliquid platform. According to BlockBeats On-chain Detection, two prominent market-making addresses have significantly reduced or withdrawn their positions, with an estimated total scale of $100 million. In the past two hours, Auros Global closed all positions on the platform and withdrew approximately $6 million to a centralized exchange (CEX). Previously, this market maker provided liquidity for 175 cryptocurrencies on the platform, with a market-making scale of $45 million for Bitcoin alone. Simultaneously, the well-known market maker Wintermute has also significantly reduced its market-making exposure on Hyperliquid. Hyperinsight's data comparison revealed that its liquidity provision for Bitcoin and Ethereum has decreased by about 90%. Previously, the combined market-making scale for these two major cryptocurrencies was approximately $40 million, which has now sharply declined to $4 million. Despite maintaining positions in 111 cryptocurrencies and continuing high-frequency order placements, the total position scale has decreased from nearly $80 million to $41 million.