- James Wynn exited Hyperliquid, booking a $1 million profit by selling all his HYPE tokens and withdrawing stablecoin holdings.
- Despite announcing a trading break, Wynn quickly opened a $99.5 million leveraged Bitcoin position with a 40x multiplier.
- Hyperliquid recorded strong growth in May with a $2.3 million average daily revenue and a 62% monthly surge in its HYPE token.
Renowned crypto trader James Wynn sold his entire stash of Hyperliquid (HYPE) tokens earlier today, marking a significant move in the DeFi market. He liquidated 126,116 HYPE tokens for approximately $4.13 million. Wynn originally purchased these tokens in early May for $3.13 million, making a 31.9 percent return on his investment. He also withdrew all remaining USDC from the Hyperliquid platform.
Following the token sale, Wynn announced a temporary halt to his perpetual trading activity. In a post shared on X, he thanked Hyperliquid for its performance, while noting a net loss of $17.5 million from recent trades. He acknowledged the role of decentralized exchanges but raised concerns about the transparency that allows large players to monitor trading behavior.
Hyperliquid Hits Revenue Milestone During Exit
Wynn’s exit coincides with a strong performance by Hyperliquid. The decentralized platform reached a 30-day rolling average revenue high of $2.3 million, placing its annualized revenue at $840 million. During May, Hyperliquid recorded $3 million in revenue on 9 of 13 days. HYPE tokens surged 62 percent in May, peaking at $38 before settling at $32.
Despite his public trading break, Wynn reentered the market hours later. He opened a leveraged long position worth $99.5 million on Bitcoin. The trade involved 945 BTC with 40x leverage and a liquidation price set at $104,580. This move signals his continued high-risk appetite in the market.
In addition to the Bitcoin position, Wynn has shown interest in Moonpig, a memecoin that has surged by 600 percent over the last month. This pivot reflects a broader shift in his strategy following a significant drawdown in perpetual positions.
