Trader Initiates $1.1 Billion Bitcoin Long Position on Hyperliquid DEX
A trader has opened a $1.1 billion long position on bitcoin using 40x leverage on the decentralized exchange Hyperliquid. Key details include:
- Position tied to wallet address “0x507,” owned by trader “James Wynn.”
- Opened at an entry price of $108,084 with a liquidation level near $103,640.
- Currently shows over $40 million in unrealized profit.
- Wynn previously closed 540 BTC for a $1.5 million profit.
- Hyperliquid operates on its own blockchain, HyperEVM, and allows permissionless trading without KYC.
- Platform supports over 200,000 transactions per second.
- Hyperliquid’s HYPE token increased by 15% in the last 24 hours.
This trade reflects a potential shift of large capital from centralized finance to DeFi, indicating growing confidence among major investors in blockchain-based platforms.