A trader named James Wynn has gained attention for making impressive profits of more than $46 million in just two months using the decentralized exchange Hyperliquid. He achieved this by engaging in high-leverage trading with various cryptocurrencies such as Bitcoin, PEPE, TRUMP, and Fartcoin.

Wynn started trading on Hyperliquid in mid-March and notably placed multiple long positions at leverages ranging from 5x to 40x. Some of his open positions, like a 10x long on PEPE and a 40x long on Bitcoin, have resulted in substantial gains, with unrealized profits amounting to millions of dollars.

His successful trading strategy has positioned him as a top trader on Hyperliquid's leaderboard. Despite scoring big profits, Wynn has also gained recognition for his vocal support for Hyperliquid and criticism of centralized exchanges like Bybit. He accused centralized exchanges of manipulating token listings and expressed ethical concerns, stating his loyalty to Hyperliquid even if offered $1 million monthly to trade elsewhere.

Hyperliquid continues to attract users due to its trustworthiness and features that allow traders to have full control over their funds without intermediaries. Although the platform faced controversy with the JELLY meme coin short squeeze, experienced traders and whales still back it as a reliable option for perpetual futures trading.

As per DeFiLlama, Hyperliquid's market dominance has risen significantly, now holding over 60% of the decentralized perpetual market. This growth indicates the platform's increasing popularity among day traders looking for a trustworthy and efficient trading environment.