Wintermute Pulls Knife on Market: Bye, Bye Mubarak, CYA Later Tutorial (TUT)

Wintermute, a crypto market maker, is offloading meme coins like Mubarak, Tutorial (TUT), and ACT, but Solana remains under pressure. Will the industry recover and rally to command a $1 trillion market cap?

The crypto market is stabilizing, up nearly 0.4% in the last 24 hours, allowing some of the best meme coins to invest in, like Dogecoin and Shiba Inu, to pare losses and slow down after heavy selling in Q1 2025. While this is bullish and might even form the base of a much-welcomed recovery, one analyst on X observed that Wintermute, a crypto market maker, is on a meme coin selling spree, offloading some of the best meme coins to consider buying in the past hour alone.

(Source)

The analyst notes that one of the biggest casualties in this dump is the ACT meme coin, which is tanking at press time, losing around 10%, coinciding with the reported Wintermute offloading.

Meme Coins Under Pressure From Wintermute Sell Pressure

In addition to ACT, the crypto market maker dumped several other coins, mainly from the expansive BNB Chain ecosystem.

The analyst notes that the market maker sold the high-flying Mubarak and Tutorial meme coins, which have dominated headlines in recent days. In addition to these tokens, BabyDoge was on the chopping block.

The rapid unloading of these meme coins has heaped pressure on these tokens and could risk capping gains on other altcoins.

Although ACT, TUT, and Mubarak meme coins are down at press time, the broader meme coin market is recovering. In 24 hours, it added 2.8%, pushing the total market cap to over $52 billion. Among the top performers on the last day are Fartcoin and SPX meme coins, which are up, on average, 25%.

(Source)

Still, traders should be cautious.

If Wintermute dumps other meme coins in the next few trading hours or days, it may lead to a sentiment shift, throttling capital flow to meme tokens.

Since these tokens are sensitive to sentiment and general market hype, gains can quickly reverse as panic spreads, extending losses from Q1 2025.

On X, one observer countered the belief that Wintermute is offloading these tokens for good. In their view, the analyst said the crypto market maker may be swapping them, taking advantage of arbitrage.

Since crypto trading is generally decentralized, with thousands of exchanges, there might be opportunities to capitalize on price differences between centralized exchanges where these meme coins are traded and decentralized platforms like PancakeSwap, where traders can swap them instantly.

While this is possible, no solid on-chain data has confirmed this claim.

What’s Next for Meme Coins After Wintermute Dump?

Overall, interest in meme coins is fading as the crypto market cools off. Coinciding with this contraction in valuation is the price drop of some of the best cryptos to buy, like Solana. After peaking at $295, SOL/USDT has been rapidly falling, more than halving to $120 in March 2025.

(SOLUSDT)

Dropping SOL prices has forced capital away from the coin and meme coins, as traders and investors choose to observe the market before committing their capital. As a result, on-chain activity in Solana has dropped, and revenue, following the SOL/USD price trend, is down, sliding from January 2025 highs.

Although meme tokens have come under renewed selling pressure, endorsements from the political class, including Donald Trump and celebrities, remain bullish overall.

Memecoins are Tokenization of the *INTANGIBLE*.

This is a MULTI-TRILLION DOLLAR MARKET.

Few understand. Many will. pic.twitter.com/wkTFRyVhtq

— Murad (@MustStopMurad) January 7, 2025

Last year, one analyst said meme coins are indispensable and will expand over the coming years, commanding a $1 trillion market cap.

DISCOVER: 17 Next Crypto to Explode in 2025: Expert Cryptocurrency Predictions & Analysis

The post Wintermute Pulls Knife on Market: Bye, Bye Mubarak, CYA Later Tutorial (TUT) appeared first on 99Bitcoins.