The crypto trader known as James Wynn has sparked widespread interest as he reportedly earned more than $46 million in just two months on a decentralized exchange lipid.
Since March he has earned incredible profits through a series of high leverage positions in various meme coins such as Bitcoin and Pepe, Trump, and Fartcoin.
High-lipid traders criticize CEXS while riding a $46 million profit wave
Wynn began trading aggressively with high lipids around mid-March, according to on-chain analytics firm LookonChain.
Since then, he has placed an aggressive long position with leverage of 5 to 40 times. Five of these positions remain open and still generate significant unrealized benefits.
Lookonchain reported that Wynn’s most advantageous position was ten times longer than Meme Coin Pepe, providing about $23.8 million in unrealized profits. He also holds 40 times the length of Bitcoin, earning about $5.4 million in paper profits.
Other notable deals included ten times the length of a Trump token, earning $5.57 million. Another deal included five times the length of Fartcoin, which generated $5.15 million, and five times the length of the hype, generating about $31,000.
His strategy and consistent performance made him the top of Hyperliquid’s trader leaderboard.
In the last 24 hours alone, he reportedly made $11.4 million, cementing him even further as one of the most successful traders on the platform.
List of top high lipid traders. Source: X/James Wynn
Despite the controversy, the high lipid user base continues to grow
Meanwhile, Wynn is attracting attention as well as his profits. He also became a supporter of the lipid voice and a harsh critic of the focus exchange.
Public Post argued that platforms like Bibit, which manipulate token lists for internal gain, often introduce tokens to discard retailers.
He said he would reject a monthly $1 million offer to trade on BYBit, citing ethical concerns.
Instead, Wynn described high lipids as a rare and reliable platform in the space. The recent controversy over the Jelly Meme Coin Short Squeeze has received widespread criticism, but some whales and experienced traders continue to support it.
Hyperliquid is designed for permanent futures trading, providing fast on-chain execution. The platform allows users to have full control over their funds without intermediaries, making it an attractive option for many day traders.
The advantage of the high lipid market. Source: Defilama
As a result, platform rise has been quick over the past year. According to Defillama, Hyperliquid is currently commanding more than 60% of the decentralized permanent market from 44% at the end of 2024.