A single trader has opened a massive $1.1 billion notional long position on bitcoin (BTC) using 40x leverage
A single trader has opened a massive $1.1 billion notional long position on bitcoin (BTC) using 40x leverage on the onchain decentralized exchange (DEX) Hyperliquid, a rare instance of a ten-figure position being open entirely on a blockchain-based platform.
The trade is tied to wallet address “0x507,” belonging to pseudonymous trader “James Wynn” on the platform.
Lookonchain data shows the position was opened at an entry price of $108,084, with a liquidation level just under $103,640 — meaning if BTC drops to that price, the position could be wiped out. The trade is sitting on over $40 million in unrealized profit as of early Thursday.
Bitcoin just broke through $111,900!Top trader James Wynn's 40x leveraged long position of 10,200 BTC($1.14B) is now sitting on an unrealized profit of over $39M!https://t.cryptocchain.com/blocks/hyperliquid/11378484
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