Hyperliquid sees $1.1B Bitcoin long bet opened at 40x leverage
A crypto whale has increased a 40x leverage long Bitcoin position to $1.1 billion on the decentralized exchange Hyperliquid, marking the first position over $1 billion on the platform. The account “James Wynn” claims responsibility for this trade, which has gained $36 million. A margin position of $28.4 million was utilized to enhance the Bitcoin position, now valued at $1.13 billion, with an average entry price of $108,065. The position previously faced a loss of $16.3 million before Bitcoin surpassed $110,000 on May 21. Wynn began closing some long positions around $106,000 on May 20. He is known as a high-risk leverage trader and has made 32 trades on Hyperliquid since depositing $4.65 million in USDC. Hyperliquid offers various trading services, including spot trading and lending.
