A crypto trader named James Wynn has attracted widespread attention after reportedly earning over $46 million in profits in just two months on the decentralized exchange Hyperliquid.
Since March, he has generated surprising profits from a series of high-leverage positions on Bitcoin and various meme coins, including PEPE, TRUMP, and Fartcoin.
Hyperliquid Trader Criticizes CEXs While Generating $46 Million in Profits
According to the on-chain analysis company Lookonchain, Wynn began actively trading on Hyperliquid around mid-March.
Since then, he has placed strong longing positions with leverage ranging from 5x to 40x. Five of these positions remain open and are still generating significant unrealized profits.
Lookonchain reported that Wynn's most profitable position was a 10x longing position on the meme coin PEPE, generating around $23.8 million in unrealized profits. He also holds a 40x longing position on Bitcoin with approximately $5.4 million in paper profits.
Other notable trades include a 10x longing position on the Trump token, generating $5.57 million. Another trade involved a 5x longing position on Fartcoin, creating $5.15 million, and a 5x longing position on HYPE, bringing in around $31,000.
His consistent strategy and performance have placed him at the top of Hyperliquid's trader rankings.
In just the past 24 hours, he is reported to have earned $11.4 million, further solidifying his position as one of the most successful traders on the platform.
List of top traders on Hyperliquid. Source: X/James WynnHyperliquid User Numbers Continue to Grow Despite Controversy
Meanwhile, Wynn has attracted attention not only for his profits. He has also become a passionate supporter of Hyperliquid and a fierce critic of centralized exchanges.
In public posts, he accuses platforms like Bybit of manipulating token listings for internal profit, claiming they often introduce tokens to dump on small retail investors.
He declares he would refuse a $1 million monthly offer to trade on Bybit, citing ethical reasons.
Instead, Wynn describes Hyperliquid as a rare and trustworthy platform in this space. Despite recent platform controversies surrounding the meme coin JELLY short squeeze, many whales and experienced traders continue to support it.
Hyperliquid is designed for perpetual futures trading and provides fast on-chain execution. The platform allows users to have complete control of their assets without intermediaries, making it an attractive option for many day traders.
Hyperliquid market dominance. Source: DeFiLlamaAs a result, the platform's growth has been rapid over the past year. According to DeFiLlama, Hyperliquid now accounts for over 60% of the decentralized perpetual futures market, increasing from 44% at the end of 2024.
