James wynn Returns to Crypto Trading After Major Losses
James Wynn, a crypto trader, is back in the game despite losing nearly $100 million last week. He recently sold $4.12 million worth of Hyperliquid (HYPE) tokens for over $1 million in profit. Wynn then opened a new 945 BTC long position with 40x leverage.
Wynn originally bought the HYPE tokens on May 9 and May 12 at an average price of $24.4. he sold them at $32.7, making a profit of around $1.05 million. Though, this profit is small compared to his recent losses.
According to <a href="https://lookonchain.com reports that Wynn's losses began with a series of highly leveraged positions. Between March 20 and May 23, he made $83 million through high-leverage trades. These included a 10x long on Pepe (PEPE), a 10x long on Trump (TRUMP), and a 5x long on Fartcoin (FARTCOIN).
On May 24,Wynn doubled down on his BTC long,raising the position to $1.25 billion. Within hours, the trade was down $13.4 million. the next day, he reversed to a $1 billion BTC short, losing $15.87 million over 15 hours. On May 30, Wynn was liquidated for 949 BTC, worth approximately $99.3 million.
Undeterred, Wynn opened another long BTC position of 945 BTC ($99.7M) with 40x leverage. He urged his X followers to support him by buying Bitcoin. Wynn believes he and other retail traders are being targeted by crypto whales.
