Evgeny Gaevoy: Wintermute’s unique liquidity model drives market making, retail investors struggle with late entries, and the rise of derivatives enhances institutional safety
The post Evgeny Gaevoy: Wintermute’s unique liquidity model drives market making, retail investors struggle with late entries, and the rise of derivatives enhances institutional safety appeared on BitcoinEthereumNews.com.
Investors are shifting focus to Bitcoin and Ethereum as altcoins struggle for attention in a crowded market. Key takeaways Wintermute’s business model is distinct due to its comprehensive liquidity services across various platforms. Successful market making now requires integrating multiple strategies and signals. Altcoins underperformed last year, with most trading activity focused on Bitcoin and Ethereum. Retail investors often miss early gains that venture capitalists capitalize on. A flight to quality is expected, with investors favoring stable assets like Bitcoin and Ethereum. The influx of digital asset treasury has diluted the market, affecting asset valuation. The market may take time to regain excitement about non-major crypto. The growth of derivatives, especially options, is maturing markets and making them safer for institutions. Retail traders in crypto prefer perpetual contracts over options. There is a higher sophistication in derivatives trading in the West compared to Asia. Increased interest in commodities and equity perpetuals, especially in tech stocks, is anticipated. Insider trading poses challenges for market makers in providing liquidity in prediction markets. Tokenized equities present unique challenges due to trading outside traditional market hours. Weekend trading can lead to liquidity issues and increased risk due to information asymmetry. Crypto markets have been range-bound, affecting Bitcoin’s perception as a volatile asset. Guest intro Evgeny Gaevoy is the Founder and CEO of Wintermute, a global algorithmic trading firm and leading liquidity provider for digital assets. Prior to founding Wintermute in 2017, he built and led Optiver’s European ETF trading desk. Wintermute now provides liquidity across over 60 centralized and decentralized exchanges for more than 250 crypto assets. Wintermute’s unique business model “Our business model differentiates us from competitors by providing comprehensive liquidity services across various platforms.” – Evgeny Gaevoy Wintermute integrates multiple strategies and signals for successful market making. “In order to run successful…
Filed under: News - @ February 4, 2026 12:19 am