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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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1.Publish original content on Gate Square related to PROVE or the above activities (minimum 100 words; any format: analysis, tutorial, creativ - 💙 Gate Square #Gate Blue Challenge# 💙
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4. Submissions must be original and comply with community guidelines. Plagiarism or re - 🎉 The #CandyDrop Futures Challenge# is live — join now to share a 6 BTC prize pool!
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Dare to trade. Dare to win.
Giant Whale Trader James Wynn Closed His Large Long Position in the Surprise Altcoin! Here Are the Profits He Made
Trader James Wynn, known for his previous transactions and his massive long position in Bitcoin, made an interesting move today according to on-chain data.
Onchain data revealed that Wynn closed all of its PEPE memecoin positions. By closing its trades, the trader has generated a total of 25.18 million dollars from these positions.
James Wynn, according to his own statement, started with 7,000 dollars in PEPE trading transactions in 2023 and earned 25 million dollars that year. This year, he has thus earned another 25 million dollars with his PEPE long transactions. In other words, the trader made a total profit of over 50 million dollars on a single token.
However, it is important to remember that although Wynn has made a profit from these trading operations, almost all investors have lost money, especially in leveraged trades and memecoins.
Wynn has interestingly incurred a significant loss on the 40x long Bitcoin position opened at the level of 108.915 dollars. In addition to a loss of 1.7 million dollars on the still open position, a funding fee of 4.6 million dollars has also been paid. If the BTC price drops to 104.770 dollars, this position will be liquidated.