Risky Hyperliquid trader James Wynn lost almost all the $1.28M he deposited in July

James Wynn, one of the high-profile traders on Hyperliquid, deposited a total of $1.28M to Hyperliquid to defend his positions during a turbulent month, and lost almost all of the funds to liquidations.

James Wynn kept defending risky positions on Hyperliquid, costing him a total of $1.28M for the past month. During the market turbulence in July, Wynn had to post additional collateral to avoid full liquidation.

Despite this, Wynn has been liquidated on most of his BTC longs, which were made just as BTC prices peaked. The positions were closed after Hyperliquid had a 27-minute outage of its API and order books.

On-chain data gathered by Arkham Intelligence shows James Wynn was highly active in moving funds, with Hyperliquid as one of the main destinations. Wynn took out around $32K from Hyperliquid, later depositing the funds to Binance in the form of USDC.

JAMES WYNN DEPOSITED $1.28M TO HYPERLIQUID THIS MONTH – AND LOST EVERYTHING

James Wynn deposited a total of $1.28M to Hyperliquid over the course of July, and has since lost all of it, withdrawing a final balance of $32.93K.

James Wynn was liquidated last night for his $2.99M… pic.twitter.com/vOyuU8MmlO

— Arkham (@arkham) July 30, 2025

Wynn also interacts with Binance, as well as the 1inch aggregator for decentralized meme trading. The risky trader actively shares his positions on social media, with several risky longs for BTC and ETH.

In addition to trading blue chip tokens, Wynn is also shilling meme tokens on Telegram and going for small-scale meme trades.

James Wynn loses on PEPE bets

Following several BTC and ETH liquidations, James Wynn switched his attention to PEPE. The early meme token, PEPE gained 16.3% in July, but failed to go vertical.

PEPE has been sliding in the second half of the month, trading at $0.000011. The lack of a decisive rally led to multiple partial liquidations. On-chain data reveals James Wynn was liquidated a total of nine times on his PEPE positions, losing another $25,000.

The PEPE position was relatively minor compared to previous bets on the direction of BTC and ETH, but James Wynn tried to boost the social media profile of the meme token. The trader has a long history with PEPE, becoming an early adopter while the token had a $600M market cap.

Hyperliquid still attracts star whales

Star whales like James Wynn and Aguila Trades have become the key to Hyperliquid’s success. The model of James Wynn has also been copied by The White Whale, another top-ranked Hyperliquid trader. In addition to opening public positions, The White Whale is active on social media, with potential effect on asset prices.

That moment you realize that single-handedly you are 15% of all OI for SOL on Hyperliquid. Guess it makes sense why price is being suppressed. Not sure who needs to hear this but you aren’t going to shake my conviction and trick me into selling before I’m good and ready.

— The White Whale (@TheWhiteWhaleHL) July 29, 2025

The perpetual futures DEX expanded its open interest to over $15B, of which $8B goes toward blue-chip assets, and the remainder to new hot tokens. HYPE is among the most active markets, but Hyperliquid has quickly gathered whales for new listings like PUMP.

Hyperliquid’s open interest grew vertically, driven by altcoin inflows. Open interest is at an all-time high above $15B. | Source: Hyperliquid

Despite the most recent BTC slide to $117,000, Hyperliquid managed to hold up. HYPE stabilized around $43.07, down from its peak of just under $50. For now, HYPE has not managed a rally to three-digit prices and failed to clear the $50 barrier, but is still up over 8% in July.