Wynn, Parker, and Others Push High-Stakes Trades on Hyperliquid

Cryptocurrency Whales Go Wild on BTC

Three whales made waves on Hyperliquid this week, each with a different take on Bitcoin. The most aggressive? James Wynn opened a 1,960 BTC long worth $209M at $105,033 per coin, riding high leverage and even tossing in a side bet on $kPEPE that reached $11.7M in unrealized gains.

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Meanwhile, William Parker, a former top Hyperliquid whale, went the opposite route with an $88M short using just $2.2M in margin — a risky 40× leverage play.

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And while these two duked it out on BTC direction, a third whale made a tactical pivot: converting 2,000 ETH to USDC, then opening a 700 BTC long (~$75M), signaling confidence in Bitcoin’s relative strength.

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Together, these moves show whales are going all-in on DeFi perps — with big positions, high conviction, and zero hesitation.

The Big Short of $HYPE Token Gone Wrong

A Costly Lesson in “Don’t Fade the Hype”. Not all whales thrived this week – one became an involuntary poster child for the dangers of shorting a parabolic token.

A Hyperliquid whale (wallet 0x20B141d3B74779D96B48b966807d719D5dfa08A6) amassed a $16.06M short position on $HYPE (the Hyperliquid exchange’s native token) with 5× leverage at an average entry of $20.44.

Initially, as HYPE’s price started climbing past $30, the short was underwater by $1–2M (see image for an early-week snapshot). Instead of closing, the trader doubled down – covering parts of the short in the $31–32$ range and adding more margin to fend off liquidation (set around $56.2). But HYPE continued to surge relentlessly.

By week’s end, the embattled short seller finally capitulated, closing the position and realizing roughly a $23.5M loss – wiping out ~77% of the margin. This stands as one of the largest single-trade liquidation losses on-chain this year.

The episode underscores how quickly a high-leverage short can spiral out of control when faced with a rapid 90% price. The whale’s pain was the market’s gain: HYPE’s rally was fueled by bullish sentiment (and possibly a short squeeze), reinforcing the adage that “fading the trend” in crypto can be financially hazardous.

In short, this whale got burned trying to short the hottest token of the week – a dramatic reminder that even big players shouldn’t try to fight the tape when momentum is strong.

James Wynn Drops $22.7M in a Single Day — Margin Call Drama

James Wynn, one of the boldest traders on Hyperliquid this cycle, suffered a $22.7M 24-hour loss across four highly leveraged positions.

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His wallet was deep in red with BTC down $1.04M, ETH off by $2.14M, and SUI sinking another $1.42M — partially offset by a $8.67M gain on kPEPE, his best-performing bet.

These trades were opened with significant leverage: 40× on BTC, 25× on ETH, and 10× on both SUI and kPEPE. With funding fees stacking and liquidation levels creeping dangerously close, Wynn made a fresh deposit to boost margin and avoid a wipeout — a move that likely preserved his high-risk portfolio.

The episode is a textbook example of how even top-performing wallets can face sudden drawdowns when markets turn. In Wynn’s case, he lived to fight another day — but not without a seven-figure bruise.

$1.25B Bitcoin Long: James Wynn Doubles Down

James Wynn isn’t just betting big — he’s betting massive. The same Hyperliquid whale previously known for bold trades has now pushed his BTC long position to $1.25 billion, holding 11,588 BTC at 40× leverage.

With an average entry at $108,915 and the price drifting just below at $108,589, the trade was sitting at a –$3.17M unrealized loss when last tracked. But the real bleed came from funding costs, already stacking up to –$4.6M, as the high-leverage position remained open over time. The liquidation threshold sits dangerously close at $105,179, adding pressure on any downward moves.

This mega bet came after Wynn exited three other high-stakes positions: a $3.67M loss on ETH, $1.59M on SUI, and a standout $25.2M gain on kPEPE.

He rotated all that capital into this singular, high-conviction long on Bitcoin. It’s the most aggressive on-chain BTC long observed on Hyperliquid to date — and it may define whether Wynn walks away a market legend or cautionary tale. One thing’s clear: this is a whale unafraid of going all-in with the market at all-time highs.

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