Notable Hyperliquid trader James Wynn has increased his 40x leveraged Bitcoin (BTC) long position to $1.25 billion after closing his $PEPE position with a profit of $25.2 million.
According to a report by Lookonchain on May 24, Wynn established a position of 11,588 BTC with an average entry price of $108,243 and a liquidation level of $105,180.
This move came just hours after Wynn exited his Ethereum (ETH) and Sui (SUI) long positions with a loss of $5.3 million. At that time, he doubled down on Bitcoin with the funds obtained, increasing his position to 11,070 BTC.
Wynn began his Bitcoin long position with $830 million on May 21 and cut $400 million in profits on the same day. By May 22, he raised his position back to $1.1 billion, maintaining high leverage as BTC surpassed $110,000, with unrealized gains of $39 million. He then sold 540 BTC for $60 million, locking in a profit of $1.5 million.
The market sharply declined after Trump announced a 50% tariff on all imports from the EU, causing Wynn to incur losses.
This news was announced on May 23, leading Bitcoin to drop below $107,000, erasing gains in both traditional and cryptocurrency markets. Ethereum (ETH) also fell to a low of $2,504, while meme coins were hit even harder.
According to HypurrScan, Wynn suffered losses of over $29 million in just one day. However, his total trading profits still exceed $57 million, having earned $46 million in the past month.
Wynn is a high-risk cryptocurrency trader, self-identifying as a high-risk leveraged trader and meme coin maximalist. He also claimed to have called for buying Pepe (PEPE) when its market cap was only $600,000.
According to HypurrScan, this crypto whale started using Hyperliquid two months ago, depositing $4.65 million worth of stablecoin USDC into the platform.
Hyperliquid's decentralized exchange (DEX) is the flagship product of the Hyperliquid layer one blockchain, which also offers various features such as spot trading and lending services.
It is worth noting that Wynn's aggressive leverage strategy amplifies his exposure to volatility. With Bitcoin prices nearing $109,000, any sharp decline could threaten his position.
Related: Hyperliquid supports 24/7 cryptocurrency trading in CFTC opinion solicitation
Original: “Hyperliquid Trader James Wynn Increases Bitcoin (BTC) Long Bet to $1.25 Billion”
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