A crypto trader named James Wynn has generated significant interest after reportedly making over $46 million in profit in just two months on the decentralized exchange Hyperliquid.
Since March, he has achieved unexpected profits through a series of high-leverage positions on Bitcoin and various meme coins, including PEPE, TRUMP, and Fartcoin.
Hyperliquid trader criticizes CEX, making a profit of $46 million
According to on-chain analytics firm Lookonchain, Wynn began actively trading on Hyperliquid around mid-March.
Since then, he has placed aggressive long positions with leverage ranging from 5x to 40x. Five of these positions remain open and continue to generate significant unrealized profits.
Lookonchain reported that Wynn's most profitable position is a 10x long on the meme coin PEPE, which has yielded approximately $23.8 million in unrealized profit. He also has a 40x long on Bitcoin with approximately $5.4 million in paper profit.
Other significant trades include a 10x long on the Trump token that generated $5.57 million. Another trade includes a 5x long on Fartcoin, which generated $5.15 million, and a 5x long on HYPE that brought in about $31,000.
His strategy and stable results have brought him to the top of the Hyperliquid trader rankings.
In just the last 24 hours, he reportedly made $11.4 million, further solidifying his status as one of the platform's most successful traders. The number of Hyperliquid users continues to grow despite controversies.
Meanwhile, Wynn has attracted attention not only for his profits. He has also become an active supporter of Hyperliquid and a sharp critic of centralized exchanges.
In public posts, he has claimed that platforms like Bybit manipulate token listings for internal gain, implying that they often introduce tokens to dump them on retail investors.
He stated that he would decline a $1 million per month offer to trade on Bybit, citing ethical considerations. Instead, Wynn described Hyperliquid as a rare, reliable platform in the industry. Although the recent controversy surrounding the short squeeze of the meme coin JELLY received widespread criticism, several whales and experienced traders continue to support it.
Hyperliquid is designed for trading perpetual futures and provides fast on-chain execution. The platform allows users to have full control over their funds without intermediaries, making it an attractive choice for many day traders. As a result, the platform has rapidly grown over the past year. According to DeFiLlama, Hyperliquid currently controls over 60% of the decentralized perpetual contracts market, up from 44% at the end of 2024.#BinanceSquare #Write2Earn #trading #crypto #Binance $BTC