In a recent update from COINOTAG News dated May 30th, data acquired from HypurrScan reveals significant developments in the cryptocurrency market. Notably, whale investor James Wynn has experienced a staggering unrealized loss of approximately $4 million on a massive 40x Bitcoin long position.
This specific trade carries a total value of $1.7834 billion, with an entry price set at $107,993.1. The precarious nature of Wynn’s investment is further underscored by the liquidation price, currently pegged at $104,610. Industry analysts are closely monitoring these trends, as they illuminate the vulnerabilities faced by even the most seasoned traders within the volatile realms of cryptocurrency.