According to Arkham Intelligence, a massive liquidation event took place on Hyperliquid, a popular derivatives trading platform, several minutes ago.
Popular trader James Wynn has had all of his long positions wiped out after the price of Bitcoin sank lower earlier today.
The total trade value of his positions stood at roughly $39.3 million. The last liquidation event took place after the price of the leading cryptocurrency dipped to $103,266. The trader has been liquidated three times in a row.
Before his positions got wiped out, the trader recorded an unrealized profit and loss (PnL) of -$1.13 million.
Wynn has now exited all of his positions with a lifetime PnL of -$20.5 million.
Bitcoin is currently changing hands at $103,465, according to the CoinGecko data.
Vladislav Sopov
U.Today Editorial Team