Big-time trader James Wynn is making and losing millions where everyone can see, and it’s drawing a lot of attention to Hyperliquid.
It looks like the whole observation of the crypto community is on James Wynn, the whale trader, who is drawing a lot of attention on Hyperliquid (HYPE). After gaining around $90 million in unrealised profit, at present, Wynn is in the danger zone.
James Wynn is one of the few big traders showing his crypto wallet and often shares updates on X (formerly Twitter). In May, people noticed him when he bet $830 million that Bitcoin would go up. The next day, he added another $1.1 billion as Bitcoin’s price went over $111,000. At that point, he was up about $40 million but only on paper.
Wynn used 40x leverage, meaning he borrowed a lot to make a much bigger bet. If Bitcoin dropped to $107,975, he would lose everything he put in. At first, the trade made money, but after news came out about Trump’s tariff plan, Bitcoin’s price dropped, and the trade started losing money.
On May 25, Wynn made a new bet that Bitcoin’s price would go down, worth about $856 million, again using 40x leverage. He did this to try to balance out his earlier losses. But he only kept the trade open for 15 hours and ended up losing $15.5 million on it.
His last trade that made money was on May 24, when he earned $18.4 million, probably to help manage risk. After that, he continued holding over 5,000 Bitcoin in his long position.
His last profitable trade was on May 24, when he earned $18.4 million, likely as part of a risk-management move. After that, he kept over 5,000 BTC in the long.
At the time of reporting, Wynn holds an open long position in Bitcoin worth 5,063.59 BTC. Even though that one trade made a small profit, the total unrealised gains and losses for the week in his wallet show a loss of $36.79 million.
The Risk of Transparency: Never Show Your Positions
Wynn’s big trades were the largest on Hyperliquid and got more people interested in the platform and decentralised exchanges (DEXs). Some people like that he is open about his trades, but others still doubt him.
Many traders think it’s unlucky to show their trades to the public, especially when the trades are very big. It can cause extra stress and make it easier to make bad choices when the market changes. With Wynn, thousands of people are now watching his profits and losses drop live.
Wynn is also popular for an excellent trade on the meme coin Pepe (PEPE). In April 2023, he made a prediction on X that PEPE’s market cap would increase from $4 million to $4 billion, and it did.
According to Lookonchain, he made $25.3 million from PEPE trades on Hyperliquid.
James Wynn has also traded other assets with leverage, including Ethereum (ETH), Sui (SUI), and Fartcoin (FARTCOIN). At its all-time high, his wallet showed around $87 million in gain. That instant decline made some people in the crypto world make fun of the losses.
However, James Wynn is still active on social media. On May 27, he said that even though things went down recently, his whole wallet is still up by about $25 million.
Losses for Wynn, Profits for Hyperliquid
Trades as big as James Wynn’s don’t happen often on decentralised exchanges, which can have their own special risks. But Wynn has said many times that he supports Hyperliquid. In one post, he said he won’t move to regular (centralized) exchanges and also explained why he shares his trades openly.
His trading activity also climbed platform metrics. For example, he paid $1.5 million in fees just for his profitable Bitcoin trade on May 24.
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