The top four market makers have collectively seen a net outflow of funds in the past 30 days, with a combined loss of $23.5 million. Two of them may have temporarily paused their liquidity provision activities.

August 11, according to TradingBeats (formerly Hyperinsight) monitoring, the four major market makers affiliated addresses on Hyperliquid have all recorded losses in the past 30 days, with a total loss exceeding $23.515 million and a total trading volume of approximately $17.254 billion. The four major market makers collectively suffered a loss of $23.5 million in the past 30 days, and two of them may have suspended liquidity provision.

The four well-known market maker affiliated addresses on Hyperliquid have all recorded losses in the past 30 days, with a total loss exceeding $23.515 million and a total trading volume of approximately $17.254 billion.

Despite that, the cumulative profits of the four addresses remain positive, with Wintermute accumulating approximately $212 million in profit, Auros Global around $66.994 million, Cumberland about $23.393 million, and the Flow Traders affiliated address about $3.16 million.

However, since reaching their respective peak profits in early July, the four addresses have collectively given back approximately $27.075 million. Of particular note, the losses in the past 30 days were significantly concentrated during the mid-July period of intense volatility.

Specifically:

- Wintermute (0xecb): Experienced a retracement of approximately $5.651 million from early morning on July 14 to early morning on the 15th, with perpetual account retracement of about $6.733 million, the largest among the four;

- Cumberland affiliated address (0xfc6): Witnessed a retracement of about $4.041 million from early morning on July 14 to early morning on the 15th, with perpetual account retracement of about $4.361 million;

- Auros Global (0x023a): Saw a retracement of about $1.937 million from early morning on July 14 to early morning on the 15th, with perpetual account retracement of about $2.393 million;

- Flow Traders affiliated address (0x3037): Had a retracement of approximately $1.127 million from early morning on July 13 to early morning on the 14th.

The four addresses collectively experienced a maximum 24-hour retracement of about $12.756 million, equivalent to approximately 54% of the total losses in the past 30 days. The largest retracements for three of them were all concentrated on July 14th to 15th.

On the news front, on July 13, the escalation of US-Iran tensions once again drove crude oil up by about 5% in a single day. On the evening of July 14 Beijing time, the US CPI came in well below expectations, quickly dampening rate hike expectations and causing BTC, ETH, and US stocks, all risk assets, to rally. Wintermute, Cumberland, and Auros saw their largest drawdowns in the past 24 hours, with Auros experiencing the most significant drawdown. Meanwhile, the Flow Traders affiliate address's largest drawdown occurred a day earlier.

Regarding current positions, Wintermute is currently seeing losses mainly concentrated in PUMP, ZRO, SOL, and ETH holdings. Auros Global is facing significant downward pressure from PUMP shorts. The Flow Traders affiliate address is experiencing more losses in crude oil shorts, SK Hynix longs, and stock index positions.

As of the time of writing, Wintermute and Auros Global still have visible two-way limit orders on 75 and 61 assets, respectively. Cumberland and the Flow Traders affiliate address have not displayed two-way quotes for now, possibly temporarily stepping back from providing liquidity.