Renowned cryptocurrency trader James Wynn has closed a short position on Bitcoin on the Hyperliquid platform, incurring losses of $15.52 million. Following this, the trader decided to change his trading strategy and opened a long position with a 40x leverage, anticipating an increase in the value of the leading cryptocurrency.
This is reported by Business • Media
New Trades and Current Situation
On May 24, James Wynn completed two trades — one on Bitcoin and another on the meme coin PEPE. His profit, excluding fees, amounted to $18.36 million and $25.23 million respectively. According to Hyperliquid, the trader currently has two open positions, including one again on Bitcoin and PEPE. It is important to note that the potential liquidation of the long position on Bitcoin could occur if the price reaches around $103,324.
Overall Financial Result of the Trader
James Wynn’s total profit on the Hyperliquid platform exceeds $25.5 million, despite recent losses. It was previously reported that Wynn increased his deposit by 181 times through trading the meme coin on the Solana blockchain, highlighting his activity and risky approach to trading.
“James Wynn lost $15.52 million after closing his short position on Bitcoin.”