Whale Makes Waves: $1.1B Bitcoin Long Shocks Hyperliquid Community

A whale recently took out a $1.1 billion leveraged long position on Bitcoin via the decentralized exchange (DEX) Hyperliquid. The enormous trade, reportedly made with 40x leverage, is believed to be the first time a position has crossed the billion-dollar threshold on the platform. The trader behind the audacious bet is believed to be “James Wynn,” a self-proclaimed high-risk leverage trader and memecoin enthusiast. According to on-chain data from Hypurrscan, Wynn used $28.4 million in margin to gradually build his position across multiple trades, with an average Bitcoin entry price of $108,065. At one point, the position was down by over $16 million before swinging into profit as Bitcoin surged past $110,000 on May 21 . The current liquidation price sits at $103,790 — a safe distance from the market’s current levels. “Absolute Mad Man” on Hyperliquid? The crypto community has been captivated by Wynn’s billion-dollar gamble. Reactions poured in on social media, with many praising the trader’s boldness. “He did it fellas. First position [on Hyperliquid] to exceed $1B,” said analyst Sigma^2. Others, like influencer Follis, remarked , “That mfer has nerves of steel.” While some were impressed, others questioned the wisdom of such a highly leveraged move in a notoriously volatile market. Still, Wynn seems to be reaping the rewards — and attention — as Bitcoin continues to rally. Data from HyperDash shows the whale began reducing parts of the position around the $106,000 mark on May 20, potentially locking in partial gains ahead of Bitcoin’s recent breakout. Who Is James Wynn? Little is known about Wynn beyond his digital footprint. He claims to have called the memecoin Pepe as a buy when its market cap was just $600,000 and refers to himself as a memecoin maximalist. Hypurrscan records show he began using Hyperliquid roughly two months ago, initially depositing $4.65 million worth of USDC. Since then, Wynn has made 32 trades, ranging from major tokens like XRP and Toncoin to highly speculative assets like Fartcoin and the “Official Trump” token. Hyperliquid — a rising DEX built on its own layer 1 blockchain — offers spot trading and DeFi lending, but this trade has cemented it in history as the scene of the largest known leveraged crypto position on-chain. The post Whale Makes Waves: $1.1B Bitcoin Long Shocks Hyperliquid Community appeared first on TheCoinrise.com .

Source: The Coin Rise