Crypto Trader Opens $1.1B Long Bitcoin Bet on Hyperliquid Using 40X Leverage

Description

A single trader has opened a massive $1.1 billion notional long position on bitcoin (BTC) using 40x leverage on the onchain decentralized exchange (DEX) Hyperliquid, a rare instance of a ten-figure position being open entirely on a blockchain-based platform. The trade is tied to wallet address “0x507,” belonging to pseudonymous trader “James Wynn” on the platform. Lookonchain data shows the position was opened at an entry price of $108,084, with a liquidation level just under $103,640 — meaning ...