Crypto Trader Opens $1.1B Long Bitcoin Bet on Hyperliquid Using 40X Leverage

A single trader has opened a massive $1.1 billion notional long position on bitcoin (BTC) using 40x leverage on the onchain decentralized exchange (DEX) Hyperliquid, a rare instance of a ten-figure position being open entirely on a blockchain-based platform.The trade is tied to wallet address “0x507,” belonging to pseudonymous trader “James Wynn” on the platform.Lookonchain data shows the position was opened at an entry price of $108,084, with a liquidation level just under $103,640 — meaning if BTC drops to that price, the position could be wiped out source: https://www.coindesk.com/markets/2025/05/22/crypto-trader-opens-11b-long-bitcoin-bet-on-hyperliquid-using-40x-leverage