2 weeks ago
“James Wynn,” the closely-watched trader, has present placed a $12 cardinal worthy of agelong stake connected PEPE conscionable hours aft losing implicit $100 cardinal successful bitcoin BTC agelong positions.
Wynn, known for placing billion-dollar bets connected the onchain trading level Hyperliquid, opened a caller 10x leveraged agelong worthy much than $12 cardinal connected the memecoin PEPE, Hyperdash data shows.
Wynn present holds 934 cardinal PEPE tokens valued astatine astir $12.1 million. His introduction terms of $0.0129 has already netted him an unrealized summation of 10.66%—a tiny but notable pivot aft past week’s disastrous Bitcoin trade.
Wynn’s bitcoin losses are the worldly of crypto legend. Earlier successful the week, helium had built a record-setting $1.25 cardinal notional agelong presumption astatine an mean terms of $108,243, lone to spot it illness arsenic bitcoin’s dipped beneath $105,000 aft U.S. President Donald Trump’s tariff announcement connected EU exports.
Multiple liquidations — including a 527 BTC presumption worthy implicit $55 cardinal and a 421 BTC presumption worthy astir $44 cardinal — wiped retired much than $100 cardinal of Wynn’s holdings implicit the past days.
As such, the latest determination into PEPE has got traders wondering if Wynn is simply a existent idiosyncratic with a gambling addiction — oregon an relationship funded to drum up attention to Hyperliquid.
Either way, the wealth is existent and the week-long saga has proven Hyperliquid’s capableness to grip billions of dollars successful a azygous trader wholly utilizing astute contracts and its autochthonal blockchain.
The hype has turned retired existent for Hyperliquid’s ain HYPE, with the token up 20% successful the past 2 weeks amid the caller attraction to the platform.
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