The Anatomy of the $TUT Volatility Spike: Supply, Leverage, and Liquidation
A +1,000% rally followed by a fast crash is simple market mechanics, not random noise. The full cycle of $TUT shows exactly what happens when thin liquidity meets high leverage.
How the Move Happened:
Supply Shock Ignition: A 16.67% token burn cut total supply from 1B to ~833M. On BNB Chain DEXs with thin order books, this sudden drop in available tokens caused price to gap up instantly on low volume.
The Perpetual...
Wintermute just opened $190.8M in shorts on Hyperliquid — spread across $XRP, $HYPE, and major tokens.
Before you panic: a desk this size typically hedges inventory, not calls market tops. They're managing risk on existing positions, not making a directional bet.
Still useful to track where the big money sits. When market makers shift their books this aggressively, it tells you something about flow, not necessarily sentiment.