A wallet suspected to be linked with market maker Wintermute has been quietly loading up on $SYRUP . Over the last two weeks, this address has withdrawn around $5.2M worth of SYRUP from multiple centralized exchanges and moved it on-chain.
As of now, the wallet holds roughly 20.397M SYRUP, valued at about $6.1M. Flows are mainly one-way: CEX → wallet, with no meaningful deposits back to exchanges yet.
When a large market maker accumulates off-exchange like this, it usually signals preparation for deeper liquidity or a medium-term bet on the asset. Supply on exchanges thins out, and if fresh demand kicks in, volatility on SYRUP can accelerate quickly. Of course, the same wallet can flip to distribution later, so position sizing and risk management remain key.
