Hyperliquid wallet nets $27.5M profit in less than two months

A Hyperliquid trader has pulled off an explosive and high-risk trading run, turning a $3 million deposit into $27.5 million in profit in just 52 days.

Between April 7 and April 9, the trader deposited nearly $3 million on the platform and placed aggressive leveraged bets, going fully long on various crypto assets. Hyperliquid allows users to trade perpetual futures onchain without custodians or intermediaries.

The trader went all-in on long positions, betting that crypto prices would increase. The trader used different leverage levels for various assets, meaning that for each dollar they put in, they were controlling more value.

After 52 days of trading, the wallet data showed that the trader had already cashed out almost $6 million in profits while retaining around $22 million in unrealized gains.

Hyperliquid trader turns $3 million into $27.5 million in 52 days. Source: Hyperliquid

Trader goes all-in on crypto prices going up

Data from the trader’s wallet showed that the user did not play it safe. The wallet went 100% long, meaning they only bet on prices going up and did not care about hedging, or betting on the opposing side, to offset potential losses.

The trader also used more than 40% of available margin, reflecting a high-risk approach that worked out well.

The timing aligned perfectly with a crypto rally from late April to May. On May 22, Bitcoin reached a new all-time high of $112,000, which some analysts attributed to the market turmoil in the Japanese bond market.

The account shows a steady growth chart, which means that the trader kept adding to winning positions and held on to the bets as prices rose. At the time of writing, the trader had almost $10 million available for withdrawal, suggesting a healthy profit cushion.

Related: Hyperliquid backs 24/7 crypto trading in CFTC comments submission

Hyperliquid trader James Wynn’s $1.25 billion Bitcoin long

The trade adds to a series of high-profile positions on Hyperliquid, which has been gaining visibility for its liquidity depth and trader activity.

One of the most talked-about names is Hyperliquid trader James Wynn, who stunned the market by increasing a 40x-leveraged long Bitcoin position to $1.25 billion after securing a $25 million gain from a prior Pepe trade. On May 24, Lookonchain flagged Wynn’s 11,588 BTC position, with liquidation set at $105,180.