Recently discussed Hyperliquid whale James Wynn created billions in trading volume in just a few days. His every move has become a focus, with statistics showing a 45% win rate over the past 75 days, netting over $25 million. However, the high-leverage large capital chain gambling is suspected of being hyped. Before the deadline, he went long on Bitcoin with 40x leverage, with the future market worth anticipating.
Table of Contents
ToggleHigh-leverage Whale James Wynn Turns Around with PEPE
According to on-chain data, on May 22nd, James Wynn's 40x BTC long position was once valued at $1.127 billion. During this period, he experienced multiple reductions and additions to his position, ultimately fully closing his BTC long position on the 25th. He also tried to go long on SUI and ETH, but both ended in losses.
James Wynn is known for high-leverage multiples, different from other whales' relatively conservative trading strategies. His signature work is undoubtedly the 2023 PEPE hype, where he described himself as coming from a poor small town in the UK, but PEPE turned his life around. However, he subsequently damaged his reputation by calling for tokens like ELON.
Retired for Only 2 Hours, James Announces Return
After closing his BTC long position, he also opened a 40x short position on Bitcoin and gradually increased his position to $1 billion. He closed the position with a stop loss on the morning of the 26th, with a loss of about $15.86 million.
On the morning of the 26th, he suddenly posted on Twitter announcing his retirement. To all supporters and critics:
We had fun gambling on perpetual contracts. At the peak, the account profited $87 million from about $3-4 million in funds. Now I decide to leave the casino with my $25 million profit. It was interesting, but now is the time to leave as a winner.
However, two hours later he posted: "Returning to the trenches, continuing to fight for a worthy goal. Pig against conspiracy groups." And again called for $MOONPIG.
On-chain Contract Trading Only for Advertising?
Another trader Eugene said in his channel: "I find it interesting that James Wynn is willing to publicly display such massive positions. From experience, this is almost a bad idea, where negative external effects often outweigh positive benefits. In the long term, it will be interesting to observe how he manages these crazy position sizes at 10-20x leverage."
One theory is that James Wynn might have sold his account, with his Hyperliquid trading having more advertising nature, possibly aimed at calling for meme coins. There might also be hedging on centralized exchanges behind this.
On-chain data shows that James Wynn withdrew 28 million $USDC from Hyperliquid, taking away $25.2 million in profits. In the past 75 days, he made 38 trades on Hyperliquid, with 17 profitable, a win rate of 45%. He paid approximately $2.31 million in fees to Hyperliquid.
On the morning of the 26th Taiwan time, he went long on PEPE again with 10x leverage, increasing his position to around $20 million. Some media used the headline "PEPE short-term rises 3%, possibly influenced by James' long position". In the afternoon, he went long on Bitcoin with 40x leverage, gradually increasing his position to $75.34 million.
Risk Warning
Cryptocurrency investment carries high risk, with potentially dramatic price volatility, and you may lose all your principal. Please carefully assess the risks.
