A whale has stunned crypto watchers by making $36 million on a $1.1 billion long Bitcoin bet at 40x leverage as Bitcoin neared $112,000.
A crypto whale has expanded an existing 40x leverage long Bitcoin bet to $1.1 billion on the decentralized exchange Hyperliquid, which has stunned the crypto community and is believed to be the first-ever position exceeding $1 billion on the platform.
The X account “James Wynn” claims to be behind the position, which is now up $36 million on the trade, data from Hypurrscan’s block explorer shows.
A $28.4 million margin position was used across several trades to increase the Bitcoin (BTC) position, now worth $1.13 billion. The average Bitcoin entry price was $108,065.
