Infamous crypto trader James Wynn opened a new long BTC trading position on Tuesday with 40x leverage after depositing $468k in the form of USDC into trading platform HyperLiquid, sparking a wave of comments on X. The liquidation price was set at $115,570 as per an X post from crypto analytics firm Lookonchain.
Lookonchain spotted initial trades taking place before the BTC position when James Wynn claimed a referral reward of 6,792.53 USDC and went long on PEPE with 10x leverage.
The update comes after James Wynn deactivated his X account, a social media handle on which he used to frequently post about cryptocurrency, his trades, and his experience with trading platforms. However, he supposedly reactivated his account soon after.
The price of Bitcoin was trading at $117,155.39 at the time of reporting. BTC crossed the $120,000 price mark for the first time on Monday.
James Wynn lost big on his trades in May when Trump tariffs prompted a downward slide in the price of BTC, forcing liquidations on a $1.25 billion position on BTC with 40x leverage. The liquidation price for the position at the time was set at $105,179.