A massive liquidation event took place just minutes ago on Hyperliquid, a popular derivatives trading platform, according to Arkham Intelligence.
Popular trader James Wynn has wiped out all of his long positions after Bitcoin prices sink earlier than today.
The total trade value of his position was approximately $39.3 million. The final liquidation event came after the price of major cryptocurrencies fell to $103,266.
Before his job was liquidated, the trader recorded unrealized profits and losses (PNL) of -113 million.
The trader has now finished all his positions with a lifetime PNL of $20 million.