Crypto Risk Taker Opens $1.1B Bitcoin Long at 40X Leverage in Bold Hyperliquid Move

Decentralized Bet: $1.1B BTC Long on Hyperliquid Signals DeFi’s Coming of Age

In a defining moment for decentralized finance, a trader has taken out a jaw-dropping $1.1 billion long position on bitcoin — not through a centralized exchange, but entirely on-chain via Hyperliquid, a rising DEX built for high-speed, high-volume execution.

Linked to the wallet “0x507” and the alias “James Wynn,” the position was opened using 40x leverage at an entry price of $108,084, with a liquidation level just below $103,640. As of Thursday, the trade has already amassed over $40 million in unrealized profit, according to on-chain analytics firm Lookonchain.

Wynn locked in some gains early Thursday, offloading 540 BTC for a $1.5 million realized profit. Interestingly, his previous exits have aligned with sharp BTC pullbacks — a pattern some market watchers are tracking closely.

The magnitude of this trade is only part of the story. Hyperliquid, operating on its custom layer-1 HyperEVM, offers near-zero gas fees, lightning-fast throughput via its HyperBFT consensus, and features traditionally seen on centralized platforms — including real-time order books and deep liquidity.

Unlike traditional exchanges, Hyperliquid imposes no KYC and allows permissionless access — a key draw for large traders moving away from centralized venues.

The bold position marks a broader trend: whales are now diving into DeFi, no longer content to let retail dominate the space. Capital once reserved for tightly regulated platforms is flowing freely on-chain.

As attention turned to Wynn’s billion-dollar bet, Hyperliquid’s governance token HYPE jumped 15% in 24 hours, underscoring surging interest in the protocol.

What was once experimental infrastructure for early adopters is now hosting trades that rival Wall Street’s biggest desks. DeFi just leveled up.