Key Insights:
- James Wynn, a well-known trader, recently made a $12 million long position on PEPE futures following losses exceeding $100 million in Bitcoin trades.
- This new investment in PEPE has seen an unrealized gain of 10.66% already.
- Wynn’s trading maneuvers underscore Hyperliquid’s effectiveness in executing significant transactions through smart contracts on its blockchain.
“James Wynn,” a trader who garners a lot of attention, has now committed to a $12 million long bet on PEPE just hours after incurring losses of over $100 million on Bitcoin positions.
Wynn, recognized for making substantial bets on the Hyperliquid trading platform, opened a 10x leveraged position worth over $12 million on PEPE.
Wynn currently holds 934 million PEPE tokens, valued at around $12.1 million. His entry point of $0.0129 yielded an unrealized gain of 10.66%, a notable turnaround after last week’s unfortunate Bitcoin bet.
This week, Wynn’s Bitcoin losses have become legendary as he constructed a record-setting $1.25 billion long position at an average price of $108,243, only to witness it plummet following a news announcement about tariffs from U.S. President Donald Trump.
Significant liquidations, including a 527 BTC position worth over $55 million, have led to a depletion of over $100 million from Wynn’s holdings in recent days.
This latest venture into PEPE has left the trading community wondering whether Wynn is genuinely a person grappling with a gambling addiction or an account designed to generate attention for Hyperliquid. Regardless, the money involved is substantial, and this saga has showcased Hyperliquid’s capacity to handle billions in transactions via smart contracts.
The excitement surrounding Hyperliquid has also positively influenced its HYPE token, which has risen by 20% over the last two weeks amid renewed interest.
