Hyperliquid has seen a significant boost in trading volume and price surge of the HYPER token, largely attributed to major trades made by a prominent trader known as James Wynn. Wynn, also called the “Hyperliquid 40x whale,” has been active on the platform executing multiple trades, with a win rate of 45%. Despite facing losses in large trades recently, Wynn managed to secure profits totaling $25 million, holding assets worth $33.88 million on Hyperliquid.

After announcing his withdrawal from contract trading, Wynn surprisingly opened new positions, including a $75 million BTC long position with 40x leverage. These trades by Wynn have not only gained attention but have also benefitted Hyperliquid significantly, boosting its market share and revenue. The HYPER token price surged by 120% lately, touching $38.81, increasing Hyperliquid’s market capitalization to above $12.96 billion. The platform has utilized Wynn’s trading activities to strengthen its position in the market, recording a 24-hour trading volume of $8.6 billion with a significant contribution from Wynn in terms of transaction fees.