Analysis: Wintermute-managed Token annual return -26%

Wu said, according to KOL dethective’s analysis of Wintermute’s market performance, after Wintermute’s initial contact with Token, the price of 67% of Tokens fell; over the past year, the average return on Tokens managed by Wintermute was -26%, with the worst performers including ZEREBRO, NEIRO, MOTHER, and many Memecoins; The return on Tokens managed by Wintermute on Solana is significantly lower than on Ethereum, possibly due to trading of low-quality Memecoins. Dethective’s view is that retail investors are playing a zero-sum game, at the bottom of the food chain; market making is a business - if the trade is favorable to them, they will accept it.