{"id":129760,"date":"2025-05-22T05:18:51","date_gmt":"2025-05-22T05:18:51","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129760"},"modified":"2025-05-22T05:18:51","modified_gmt":"2025-05-22T05:18:51","slug":"hyperliquid-sees-1-1b-bitcoin-long-bet-opened-at-40x-leverage","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129760","title":{"rendered":"Hyperliquid sees $1.1B Bitcoin long bet opened at 40x leverage"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsA crypto whale has expanded an existing 40x leverage long Bitcoin bet to $1.1 billion on the decentralized exchange Hyperliquid, which has stunned the crypto community and is believed to be the first-ever position exceeding $1 billion on the platform.<br \/>\nThe X account \u201cJames Wynn\u201d claims to be behind the position, which is now up $36 million on the trade, data from Hypurrscan\u2019s block explorer shows.<br \/>\nA $28.4 million margin position was used across several trades to increase the Bitcoin (BTC) position, now worth $1.13 billion. The average Bitcoin entry price was $108,065.<br \/>\nPerp futures positions of wallet address \u201c0x507.\u201d Source: Hypurrscan\u201cHe did it fellas,\u201d crypto analyst Sigma^2 wrote on X. \u201cFirst position [on Hyperliquid] to exceed $1B.&#8221;<br \/>\nWynn\u2019s long position was at a loss of about $16.3 million before it shot back up as Bitcoin broke through $110,000 on May 21. The position sits comfortably above its liquidation price of $103,790, as Bitcoin has well surpassed $110,000 and neared $112,000 in early trading on May 22.<br \/>\nHyperDash data shows the crypto whale started closing some Bitcoin long positions when Bitcoin was trading around $106,000 on May 20.<br \/>\nChange in profit and loss (PnL) from Wynn\u2019s wallet over the last 24 hours. A small amount of that PnL includes a position held in kPEPE. Source: HyperDash\u201cThat mfer has nerves of steel,\u201d crypto influencer Follis wrote, while others called the trader an \u201cabsolute mad man\u201d or questioned his sense in making the trade.<br \/>\nWho is \u201cJames Wynn\u201d?<br \/>\nWynn describes himself as a high-risk leverage trader and memecoin maxi who supposedly called Pepe (PEPE) a buy when its market cap was at $600,000.<br \/>\nRelated: Is Bitcoin price close to a cycle top? \u2014 5 indicators that help traders decide<br \/>\nThe crypto whale started using Hyperliquid two months ago, depositing $4.65 million worth of the stablecoin USDC (USDC) onto the platform, Hypurrscan data shows.<br \/>\nThey\u2019ve completed 32 trades since then, which have included long positions on XRP (XRP), the Official Trump (TRUMP) token, Fartcoin (FARTCOIN) and Toncoin (TON).<br \/>\nHyperliquid\u2019s DEX is the flagship product on the Hyperliquid layer 1 blockchain, which also offers spot trading and borrowing and lending services, among other things.<br \/>\nMagazine: TradFi is building Ethereum L2s to tokenize trillions in RWAs: Inside story<a href=\"https:\/\/cointelegraph.com\/news\/hyperliquid-first-ever-1-billion-bitcoin-bet-40x-leverage?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsA crypto whale has expanded an existing 40x leverage long Bitcoin bet to $1.1 billion on the decentralized exchange Hyperliquid, which has stunned the crypto community and is&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129760"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129760"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129760\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129760"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}