A crypto whale has shocked the decentralized finance (DeFi) community by expanding an existing 40x leveraged Bitcoin (BTC) long position to $1.1 billion on Hyperliquid, marking what is believed to be the platform’s first 10-figure trade.
Key Details of the Record-Breaking Trade
- Position Size: $1.13 billion (peak value)
- Leverage: 40x
- Margin Used: $28.4 million
- Entry Price: Average of $108,065 per BTC
- Current Profit: $36 million (as per blockchain data)
The trader, identified as James Wynn via an X (Twitter) account, reportedly began accumulating the position when BTC traded near $106,000**. Despite briefly facing **$16.3 million in unrealized losses, the trade turned profitable as Bitcoin surged past $110,000 on May 21.
"This person has nerves of steel," tweeted crypto influencer Follis, while others dubbed the trader an "absolute madman" for the high-risk move.
Why This Trade Stands Out
- Unprecedented Scale: Hyperliquid’s first $1B+ position.
- Strategic Timing: Opened ahead of BTC’s rally to $112,000 (May 22).
- Safety Buffer: Liquidation price set at $103,790, well below current levels.
The Whale’s Trading History
Wynn claims to be a high-risk leverage trader and meme coin enthusiast, allegedly advocating for Pepe (PEPE) at a $600K market cap. Hyperscan data reveals:
- Initial Deposit: $4.65 million in USDC (2 months ago).
- Other Trades: 32 transactions, including longs on XRP, TRUMP, FARTCOIN, and TON.
👉 How decentralized exchanges like Hyperliquid are changing crypto trading
Hyperliquid’s Role in the Trade
Hyperliquid’s DEX (flagship product on its Layer 1 blockchain) supports:
- Spot trading
- Lending services
- High-leverage derivatives
FAQs
Q: How risky is a 40x leveraged trade?
A: Extremely. While profits amplify, a 2.5% price drop could liquidate the position.
Q: Could this trade trigger a market-wide squeeze?
A: Unlikely. Bitcoin’s liquidity depth minimizes single-position impacts.
Q: Is Hyperliquid safe for such large trades?
A: Its decentralized nature reduces counterparty risk, but smart contract audits are advised.
👉 Explore Bitcoin’s price trends and trading strategies
Market Context
Bitcoin’s rally to all-time highs has seen limited unhealthy leverage, suggesting sustained upward potential. Analysts highlight:
- Institutional inflows
- ETF adoption
- Macroeconomic hedge demand
Disclaimer: This content is for informational purposes only and does not constitute financial advice.
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