Golden Finance reports that the latest information from the on-chain data monitoring platform TheDataNerd shows that the anonymous whale investor who previously traded with the whale James Wynn, Currently, I still hold highly leveraged long positions worth 272 million US dollars in Bitcoin (BTC) and Ethereum (ETH) on the decentralized exchange Hyperliquid. This holding scale and leverage level have drawn market attention to potential liquidation risks.
Data shows that the whale’s long BTC position leverage is 30 times, corresponding to a liquidation price of $94,766. As of the time of publication, the price of BTC is approximately $104,000, still having a safety cushion of nearly 9% from the liquidation line. The leverage of the long position of ETH is 25 times. The liquidation price is $1,984. The current price of ETH is approximately $2,100, and the risk buffer space is about 5.5%. Although the current price has not yet reached the stop-loss line, small fluctuations under high leverage may still trigger a strong liquidation.
It is worth noting that James Wynn, the “giant whale”, himself previously suffered a margin call due to high-leverage trading of BTC. Not only did he lose 87 million US dollars in profits, but he also lost 3 million US dollars in principal. Its trading movements were once regarded by the market as “sentiment indicators”, attracting a large number of followers. This time, the trading whale did not follow the stop-loss but continued to hold its position, reflecting that some investors still hold an optimistic attitude towards the short-term trend of cryptocurrencies.
Hyperliquid, as a decentralized exchange based on the Solana chain, features high-leverage contract trading and supports up to 50 times leverage. This platform adopts an order book model, and its liquidity mainly comes from market makers. Therefore, forced liquidation of large positions may trigger market fluctuations. TheDataNerd analysts pointed out that if the BTC price drops below the $100,000 mark, it may trigger panic selling in the market, further squeezing the safety margin of this whale.
For ordinary investors, the risk warning significance of such highly leveraged positions is significant. The cryptocurrency market operates continuously for 24 hours and is highly volatile. While high leverage can magnify returns, it can also multiply the risk of losses. The experiences of James Wynn and his followers indicate that even with rich trading experience, liquidity crises in extreme market conditions can still lead to the failure of strategies.
Market observers suggest that investors should avoid blindly following the “whale” operation. They need to choose leverage ratios based on their own risk tolerance and set reasonable stop-loss points. Although on-chain data can track the movements of large holdings, the price trend is influenced by multiple factors such as the macroeconomy and the fundamentals of the project. Historical data cannot accurately predict future risks.
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