Crypto whale James Wynn opened a significant 10x leveraged long position on the meme coin Pepe (PEPE), valued at approximately $20 million. However, his move set him at a loss of $858,580.
In addition to his PEPE position, Wynn holds a substantial long position in Bitcoin (BTC) with 40x leverage, using cross margin. He is currently facing considerable unrealized losses in this position as well.
Whale Losses Over $800,000 with 10x Leveraged PEPE Position
According to data from Wynn’s public address on HyperDash, the trade was initiated on the Hyperliquid platform at an entry price of $0.01409. The trader’s position was valued at approximately $19.7 million.
The liquidation price was $0.01096. On-chain analytics confirm that Wynn closed this long position earlier today, locking in a loss of $858,580.
This outcome comes shortly after Wynn faced a much larger setback on May 25, when he lost $15.8 million on a short Bitcoin position.
“James Wynn lost 75 million+ because he traded massive size in public. When you broadcast your trades, everyone becomes your enemy,” analyst Budhil Vyas posted on X.
Despite the substantial losses, Wynn, who describes himself as a ‘high-risk leverage trader,’ also has a substantial long position open in BTC with 40x leverage. This highly leveraged position is now valued at over $439 million, reflecting a dramatic increase from his earlier exposure of approximately $75 million.
The entry price for Wynn’s Bitcoin position is $109,951. However, Bitcoin’s price has been on a downward trend over the past 24 hours. Data from BeInCrypto showed that BTC declined by 0.5%.
At the time of writing, the coin was trading at $108,950. This price movement has led to an unrealized loss of around $4 million on Wynn’s position.
The liquidation price for the trade is set at $106,733. Maintaining such a large leveraged position also comes with significant costs. Wynn is currently incurring funding fees totaling approximately $136,500, which add to the trader’s financial pressure.
Despite this, Wynn’s continues to be bullish on Bitcoin.
“They can no longer outperform the monumental buy pressure happening in $BTC right now. Wynn 1-0 MM’s. HIGHER,” he posted.
Data from Lookonchain showed that over the past 75 days, Wynn has been actively trading on the Hyperliquid platform, executing 38 trades. Of these, 17 trades were profitable, which translates to a win rate of approximately 45%. In addition, over this period, he paid the platform roughly $2.31 million in trading fees.
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