By Key Points
- Hyperliquid Trader Turns $46M Profit Using Bitcoin and Meme Coins.
- He used high-leverage trades on Bitcoin, PEPE, TRUMP, and Fartcoin.
- His biggest profit came from a 10x long on PEPE with $23.8M unrealized gain.
- Wynn rejected CEXs like Bybit, calling Hyperliquid more ethical and trustworthy.
A crypto trader named James Wynn has shocked the DeFi community after turning bold trades into $46 million in profits on Hyperliquid, a decentralized platform for perpetual futures.
Wynn entered the market in mid-March, targeting high-leverage trades on popular assets including Bitcoin, PEPE, TRUMP, and Fartcoin. His leveraged positions ranged from 5x to 40x, and thanks to recent market volatility, they paid off in a big way.
Hyperliquid Top Traders List. Source: X/James Wynn – Techtoken
His most profitable position? A 10x long on PEPE, which has brought in an astonishing $23.8 million in unrealized profits. Following that, he holds a 40x long on Bitcoin, with $5.4 million in paper gains. Other meme coin positions—like a 10x on TRUMP and a 5x on Fartcoin—netted $5.57 million and $5.15 million, respectively.
Even lesser-known coins like HYPE made it into his portfolio, though it only added about $31,000 to his overall profits. Still, these strategic bets have propelled him to the top of Hyperliquid’s leaderboard, with $11.4 million earned in just the past 24 hours.
Ranked #1 trader on #HyperLiquid in the past 24hrs with a total profit of $11.4m USD🔥🙏
Noticed how I have updated my username 👇 pic.twitter.com/HnKXOZwg2v
— James Wynn 🐳 (@JamesWynnReal) May 10, 2025
This performance is turning heads, especially as meme coin trading continues to gain popularity. In fact, some recent tokens like Virtual Token have seen meteoric gains of over 300%, although a large portion is still whale-controlled, making retail participation risky. Read more on Virtual Token’s price spike here.
Hyperliquid Loyalty and CEX Criticism Spark Debate
Beyond profits, Wynn’s growing fame is rooted in his open criticism of centralized exchanges (CEXs)—particularly Bybit. In multiple public posts, he accused CEXs of manipulating token listings for profit, stating they often “list tokens just to dump on retail users.”
He even claimed that he would refuse a $1 million monthly trading deal from Bybit, choosing instead to stay loyal to Hyperliquid, which he sees as a rare trustworthy platform in a sea of questionable practices.
They want me to trade on ByBit, I won’t stop using HyperLiquid even if they offer me $1m a month.
Half the reason I’m shilling my trades publicly is because I want HL to dominate the exchange market share because other exchanges are corrupted.
They will list anything to dump… pic.twitter.com/5AhcyKDw5g
— James Wynn 🐳 (@JamesWynnReal) May 2, 2025
Hyperliquid’s edge lies in its on-chain, non-custodial trading model, where traders retain full control of their assets—no middlemen involved. While it has faced criticism, such as during the JELLY meme coin short squeeze, top traders continue to support the platform.
According to DeFiLlama, Hyperliquid now commands over 60% of the decentralized perpetual market, up from 44% at the end of 2024. This growth mirrors the broader rise in Bitcoin dominance across crypto markets. Explore more on Bitcoin dominance trends here.
Hyperliquid Market Dominance. Source: DeFiLlama – Techtoken
Wynn’s success aligns with increased retail interest in on-chain trading, as confidence in traditional exchanges continues to decline. His rise also comes during a time when the Bitcoin to S&P 500 ratio has surged to 17.7x, indicating shifting capital flows into crypto. Check out the full analysis here.
The Bigger Picture: Bitcoin, ETFs, and Market Evolution
Wynn’s $46 million win story doesn’t exist in isolation—it reflects broader momentum in the crypto market, especially surrounding Bitcoin. With major Bitcoin ETF inflows surging recently, institutional interest has been reignited, boosting Bitcoin’s market confidence. See more on ETF inflows here.
This renewed institutional push is influencing how traders like Wynn place their bets. His 40x long on Bitcoin, now sitting on $5.4 million in paper gains, is a direct nod to that optimism. While such high-leverage positions come with serious risk, Wynn seems to be playing the market at the right moments.
Platforms like Hyperliquid are enabling a new breed of traders—independent, aggressive, and informed. This aligns with recent trends seen in newer projects like Pi Network, which has started expanding real-world partnerships in places like Finland. More on that update here.
For now, Wynn remains one of Hyperliquid’s top traders, with his strategies being dissected by aspiring DeFi participants. Whether he can maintain these gains—or whether others will follow in his footsteps—remains to be seen. But one thing is clear: decentralized trading is heating up, and Hyperliquid is right at the center of it.
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