Top crypto trader loses $15 million in 15 hours
The post Top crypto trader loses $15 million in 15 hours appeared on BitcoinEthereumNews.com. Top cryptocurrency trader James Wynn has suffered a staggering loss after closing $1 billion worth of short positions on Bitcoin (BTC) in less than a day. Details of the trade indicate that the transaction occurred on the decentralized exchange Hyperliquid, where Wynn incurred a $15.86 million loss after closing a short position on Bitcoin, according to the latest on-chain data obtained by Finbold from HyperDash. James Wynn losing Bitcoin short position. Source: HyperDash The loss was recorded on May 25, following the closure of Wynn’s BTC short. He took a $15.53 million hit on the position itself, along with nearly $940,899 in fees, resulting in a net loss of $15.86 million. Notably, after the trade, data shows that Wynn had opened a $1 billion short position using 40x leverage, risking his entire $50 million wallet. This stands as the largest on-chain bet ever placed. The short position was entered at an average price of $107,077. If BTC rises above $110,446, the position risks liquidation unless additional collateral is provided. Profitable PEPE bet This setback sharply contrasts with Wynn’s recent streak of profitable trades. Just before the BTC short, he closed a long position in PEPE, securing a massive $25.19 million profit. Moreover, a previous long on BTC had netted him another $18.36 million. As previously reported by Finbold, Wynn had held a long position in Bitcoin amounting to 11,588 BTC, valued at approximately $1.25 billion at the time. Indeed, the investor has been highly active in recent weeks. Over the past 75 days, he has executed 38 trades on Hyperliquid, 17 of which were profitable, yielding a 45% win rate. James Wynn’s past transactions. Source: HyperDash Despite the mixed outcomes, Wynn’s overall performance remains impressive: he has withdrawn $28 million USDC from the platform, ultimately walking away with a net…
The post Top crypto trader loses $15 million in 15 hours appeared on BitcoinEthereumNews.com.
Top cryptocurrency trader James Wynn has suffered a staggering loss after closing $1 billion worth of short positions on Bitcoin (BTC) in less than a day. Details of the trade indicate that the transaction occurred on the decentralized exchange Hyperliquid, where Wynn incurred a $15.86 million loss after closing a short position on Bitcoin, according to the latest on-chain data obtained by Finbold from HyperDash. James Wynn losing Bitcoin short position. Source: HyperDash The loss was recorded on May 25, following the closure of Wynn’s BTC short. He took a $15.53 million hit on the position itself, along with nearly $940,899 in fees, resulting in a net loss of $15.86 million. Notably, after the trade, data shows that Wynn had opened a $1 billion short position using 40x leverage, risking his entire $50 million wallet. This stands as the largest on-chain bet ever placed. The short position was entered at an average price of $107,077. If BTC rises above $110,446, the position risks liquidation unless additional collateral is provided. Profitable PEPE bet This setback sharply contrasts with Wynn’s recent streak of profitable trades. Just before the BTC short, he closed a long position in PEPE, securing a massive $25.19 million profit. Moreover, a previous long on BTC had netted him another $18.36 million. As previously reported by Finbold, Wynn had held a long position in Bitcoin amounting to 11,588 BTC, valued at approximately $1.25 billion at the time. Indeed, the investor has been highly active in recent weeks. Over the past 75 days, he has executed 38 trades on Hyperliquid, 17 of which were profitable, yielding a 45% win rate. James Wynn’s past transactions. Source: HyperDash Despite the mixed outcomes, Wynn’s overall performance remains impressive: he has withdrawn $28 million USDC from the platform, ultimately walking away with a net…
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