James Wynn, a crypto trader who shares his position on the X (formerly Twitter) platform, quickly gained popularity after his big Bitcoin position went viral. So far, James has opened up a multi-billion dollar position and has gained a huge following after his admirable victory. Crypto Trader was also able to cross eight-digit areas in terms of profit. Two of his latest deals have attracted attention, and this report examines how traders manage these positions.
Billion dollar long and short positions
James Wynn has attracted much attention for being the top five trader on high lipid platforms from a PNL standpoint, but his recent round of trading has attracted even more attention. Last week, Crypto Trader surprised the community when it opened its $1.2 billion long position with 40x leverage. The liquidation price was $105,179, which appears to be a dangerous position, and as Bitcoin prices fluctuated, the PNL of the position has also changed.
As Bitcoin prices fell towards the weekend, traders closed this long billion-dollar position with a loss of $13.4 million. After this, James Wynn quickly flipped through the directions and placed an additional $1 billion PARP position, this time supporting the price of Bitcoin to fall.
With the entry price just above $107, this proves to be a fatal decision for traders as Bitcoin prices begin to move upwards. Again, Winn was forced to close this massive PARP position, resulting in a $15.87 million loss. High lipid data shows that Perp Trader lost nearly $28 million over a total of 24 hours.
What’s next for James Wynn?
Following the closure of his cons, James Wynn took him to X (formerly Twitter) to deal with the situation. In the post he explained that he saw that after a massive loss he no longer played for Perps. Additionally, he revealed that despite the losses, he would remain at $25 million on the green after starting from an initial position of $3-4 million.
This post elicited speculation from the crypto community. Some people argue that crypto traders don’t just stop trading. This proved correct after a few hours, and Winn returned to high lipids to make multiple bets on new positions.
Crypto Trader initially focused on Pepe’s longing. This is one of his most profitable coins, earning more than $25 million in profits. He quickly opened another Bitcoin long position, with an entry price of $109,733.
At the time of writing, James closed Pepe’s position after being mostly liquidated as the price of Bitcoin skyrocketed. The long position in Bitcoin remains, but it fell by half to $439 million. In total, the trader has already suffered a loss of $4.4 million, and his Bitcoin position remains volatile with a loss of $4.12 million.
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