Crypto trader James Wynn, after a $25M Bitcoin win, bets big on PEPE Coin with a 10x leverage long on Hyperliquid, eyeing more gains.
James Wynn, a crypto trader who recently garnered a reputation for opening a 40x leverage long position in Bitcoin, has now opened a 10x leverage long position for PEPE Coin. This occurred shortly after Wynn liquidated all his positions as BTC became volatile within the $108K-$112K range.
Wynn has amassed $25 million in profits from his Bitcoin bets on the decentralized derivatives platform Hyperliquid and has already earned an additional $200K on the meme coin gamble, following his substantial wagers on the platform.
James Wynn, a cryptocurrency trader, has initiated a 10x leveraged long position in PEPE
A renowned crypto trader, James Wynn, has initiated a long position on the Hyperliquid platform with a 10x leverage on meme coin PEPE. Wynn previously achieved substantial success with his meme coin wager, earning $26 million from a long-PEPE trade. The PEPE price experienced a more than 3% increase shortly thereafter, and its market capitalization reached $6 billion. The daily trading volume also increased by 40% to $1.5 billion.
Wynn generates a $25 million profit from a Bitcoin transaction
James Wynn executed a 40x leverage long wager on Hyperliquid, which simultaneously attracted the attention of investors as the price of Bitcoin reached an all-time high of $11,970 last week. Nevertheless, shortly after US President Donald Trump threatened a 50% tariff on the EU, BTC’s gains were immediately reversed. Wynn was compelled to alter his stance and place a $1 billion short BTC wager on Sunday.
Nevertheless, the price of Bitcoin experienced a minor increase, surging 1.2% to $110 levels, shortly after Donald Trump proclaimed his intention to postpone the imposition of tariffs on the European Union until July 9. Ultimately, Wynn was able to square off his position with a $25 million profit due to the volatility and flip-flop. Wynn discussed the development in his writing:
“To all the fans and haters: We had a good run gambling on perps. At peak the account was up $87,000,000 profits from like $3-$4m. Now decided to leave the casino with my $25,000,000 profit. It’s been fun, but now it’s time for me to walk away a wynner. Wynn 1-0 Haters”.
The popularity of Hyperliquid is on the rise
James Wynn executed 38 transactions over the past 75 days, demonstrating an impressive level of trading activity. Seventeen of these were profitable, resulting in a 45% win rate. The Hyperliquid platform received approximately $2.31 million in fees due to the trader’s high-volume activity. Consequently, it has surpassed the revenue generation of prominent market participants such as Tron, Ethereum, and BNB Chain.
The Hyperliquid (HYPE) price has increased by 12% today, extending its weekly gains by 50% and reaching a new all-time high of $40. Based on our Hype price prediction data, the rally can extend to $45 in June.
Hyperliquid has become the preferred platform for the crypto community in the derivatives market. Users can effortlessly access and monitor on-chain activity directly associated with trading operations using the platform’s sophisticated Web3 infrastructure. Arthur Hayes, a renowned trader, anticipates that the price of HYPE will soar to $100 during this ongoing rally.
