A naukri.com initiative
Cryptopotato
1M
73
Image Credit: Cryptopotato
Crypto Whale James Wynn’s $87M Portfolio Wiped Out in 5 Days: A Detailed Recap
- Crypto whale James Wynn's $87 million portfolio was wiped out in just five days after a series of high-risk leverage trades.
- Wynn initially made impressive gains, reaching $87 million in unrealized profit, before facing losses due to market retracement caused by external factors like tariffs.
- He flipped bearish on BTC, closing all contracts with a profit of $25 million after the downturn.
- Wynn received both praise and criticism for his trading activities, with some lauding him as a 'legend' while others expressed negative sentiments.
- Despite losses, Wynn continued risky trades, leading to further significant positions and deposits of PEPE tokens.
- An anonymous trader on Hyperliquid capitalized by betting against Wynn's moves, making $5.6 million in profits within three days.
- Speculation arose that the mysterious trader might be Wynn operating from another account, but Wynn denied these claims.
- Lookonchain reported that it took Wynn 70 days to accumulate $87 million in profits, but he lost most of it in just five days.
- Wynn's rollercoaster journey in the crypto market highlights the volatility and risks associated with high-leverage trading.
- The abrupt reversal of fortune serves as a cautionary tale for traders engaging in speculative markets.
Read Full Article
4 Likes
For uninterrupted reading, download the app