- James Wynn has lost nearly $100M on his high-leverage long position on Bitcoin
- The week-long trading position was liquidated on Thursday as Bitcoin dipped to the $105k range
Hyperliquid whale James Wynn has lost nearly $100M on what seems to be an irresponsible, high-leverage Bitcoin trading position. Even though Bitcoin is witnessing a 2% trading range, James Wynn lost his best through three unsuccessful high-leverage positions.
The popular on-chain transaction tracking platform, Lookonchain, reported the staggering loss today. The Hyperliquid blockchain explorer, Hypurrscan, also confirmed the closing of James Wynn’s series of trading positions. Wynn’s whale address starts with “0x5078,” and it lost 949 BTC, and its trading positions are the following:
- The first long position, worth 94.01 BTC, after Bitcoin reached $106,330
- The second long position, worth $527.29, after Bitcoin dropped to $104,950
- The third long position, worth $421.83, after Bitcoin further dipped to $104,150
Bitcoin didn’t face any extreme price volatility over the past week. It is currently trading at $105,943.42, with a 1.85% drop in the last 24 hours. What caught the attention of the crypto trader community is that James Wynn had to face a significant loss, even though the Bitcoin price was not extremely volatile.
A crypto trader named “Pentoshi” addressed the same issue in one of his latest posts on X. He highlighted the difference between Wynn’s case and other huge liquidation cases. His post reads,
“This was a bit different bc $BTC price really never changed. It’s been in like a 2% range, and this guy kept poorly getting chopped to 0.”
Pentoshi called James Wynn super loud and suggested it’s best to be quiet when making big bets. However, James Wynn was already a popular crypto trader for his numerous high-leverage trading positions. His previous staggering amount of profits made him popular, and since then, the crypto trader community has closely watched his trading positions.
James Wynn Calls Himself an “Extreme Degenerate”
In response to the huge liquidation, James Wynn posted an image of a protagonist from the “The Matrix” movie earlier today. The post attracted mainly sarcastic comments from the crypto community, celebrating his loss.
Yesterday, Wynn took advantage of the extreme popularity he gained through his BTC long position. At a time when the whole trader community is watching James Wynn’s move closely, he prompted his Hyperliquid code “WYNN.” The audience can use this code on Hyperliquid and save fees on the platform for crypto trading.
Wynn didn’t forget to mention that he was not a financial advisor, and readers should never consider his posts as financial advice. He further said,
“I am an extreme degenerate taking on high-risk leverage trades, and I do not follow proper risk management, nor do I claim to be a professional; if anything, I claim to be lucky. I am effectively gambling. And I stand to lose everything. I strongly advise people against what I’m doing!”
Even though James Wynn lost $99M in liquidations, his popularity skyrocketed in the crypto community. On another note, one whale, “0x2258,” who opened trading positions contradicting Wynn, gained $17 million in profits.
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