Analyzing the Trading Strategies of Top Traders on the Hyperliquid platform: The Art of Leverage and Timing

As the market conditions improve, some large traders on the Hyperliquid platform have once again attracted widespread attention in the market. These mysterious big players, referred to as "whales," create significant waves on the platform with their strong financial power, unique trading strategies, and precise grasp of market trends. Each of their actions not only reflects market sentiment but also provides us with a window to observe how top traders engage in market games.

Let us delve into the distinct trading strategies, risk preferences, and the logic behind them. We will attempt to unveil the secrets of their success and explore what ordinary investors can learn from their experiences and lessons.

Short-term Sniper "50x Brother": The Combination of Event-Driven and High-Leverage Art

This trader is an industry veteran who has been sharing Bitcoin-related content on social media since 2014 and is a staunch supporter of Bitcoin. For unknown reasons, the trader chose to disappear from social media in 2015. It wasn't until March 2025 that he drew attention again after profiting over 9 million USD from a highly leveraged short position on Bitcoin, leading to questions about the source of his funds. The trader subsequently chose to reveal his identity in response to the inquiries.

This trader's trading style is characterized by high risk and high return, often using 50x leverage, demonstrating keen market insight. For example, around the Federal Reserve's interest rate decision on March 20, 2025, he shorted BTC at a price of $84,566, closing the position for a profit of $81,500 when the price dropped to $82,000. He then went long at $82,200, closing the position for an additional profit of $921,000 when the price rebounded to $85,000, achieving a total return of 164%. This operation earned him the nickname "Hyperliquid 50X Bro" on social media.

From his trading strategy, the trader excels at capturing event-driven and fleeting opportunities, demonstrating a unique market insight. He is not only adept at leveraging the market fluctuations brought about by major economic events but also decisively enters the market during extreme panic. For example, when Ethereum fell to around $1500, the market was generally pessimistic, but he chose to buy 3715 Ethereum for $5.5 million (average price $1493.5) and sold at $2502, making a profit of $3.74 million.

On May 12, the results of the China-US trade negotiations were announced, and the market is expected to experience volatility. The trader chose to short Bitcoin at $104,094, subsequently making a profit of $1.18 million.

As of May 13, the trader has made approximately $2.82 million in profit on the Hyperliquid platform. Overall, his trading activity is not frequent, having only executed 3 to 4 trades over two months. However, each trade accurately predicts short-term trends, showcasing high skill and courage, often teetering on the edge of liquidation. Nonetheless, this style is not suitable for ordinary users to emulate, as he often incurs losses in trades involving some niche tokens.

James Wynn: The Legend and Controversy of MEME Coin Hunting and Large Capital Operations

James Wynn has been active on the Hyperliquid platform since March 2025. His trading style tends to favor longer cycles (several days), and in addition to mainstream tokens, he also enjoys betting on MEME-themed tokens like TRUMP, Fartcoin, and PEPE. The high volatility of MEME tokens seems to be his main source of profit.

As of the position on May 13, the PEPE long position alone brought him $23 million in unrealized gains, far exceeding the gains from other mainstream tokens.

In terms of leverage usage, James Wynn is relatively conservative. He seems to set different leverage multiples based on varying volatility. For example, the opening position for BTC was set at 40x leverage, while for PEPE it was only opened at 10x leverage.

In addition, James Wynn has established the largest user vault (Moon Capital) on the Hyperliquid platform. However, unlike his personal precise operations, the current position performance of this vault is not ideal. Opening a long position on BTC at a price of $103,533, as of May 13, the loss rate of this position is about 10%, resulting in a loss of approximately $960,000. Over the past month, the overall return of this vault has been -8%. Nevertheless, it still attracted $10 million in deposits, of which $9.2 million came from James Wynn himself.

Overall, James Wynn's earnings on the Hyperliquid platform reached 45 million dollars. His trading strategy mainly focuses on long positions, capturing opportunities for market rises. For example, he opened a 40x long position when the BTC price was 94,000 dollars, and when the price rose above 100,000 dollars, the floating profit reached 5.4 million dollars. Although his trading win rate is not high (around 47%), he is still able to achieve huge profits through large positions and high leverage.

James Wynn is hailed as a "legendary trader" in the community, but his success is also accompanied by controversy. Some accuse him of exploiting community trust for profit, such as promoting Meme coins to inflate prices before selling them off, like the baby pepe pump and dump incident in 2024. He has denied these accusations. Currently, these controversies and responses remain unverified.

James Wynn's success in trading is largely attributed to his large positions, often opening trades worth tens of millions or even over a hundred million. Coupled with his keen insight into market changes, this has resulted in his high returns. Ample margin also allows his liquidation price to reach a high threshold. This style helps him maintain a high win rate, but once the trend is incorrectly judged, he can also face significant losses.

The Mysterious Big Player Just Coming to Light: Testing Mainstream Coins and Swinging with Low Leverage

This mysterious whale is an active trader on the Hyperliquid platform recently. The initial reason for the attention was the investment of over 8 million USD in long positions on ETH. Subsequently, the account made over 8.16 million USD in profits within a week by going long on XRP and SOL.

From a trading style perspective, this trader also possesses strong financial strength, with initial capital reaching 36 million USD. In addition, he is not keen on extreme speculation through short-term operations, but chooses low leverage and extended holding periods to maintain profits.

In terms of selecting trading varieties, this large trader has currently only traded three mainstream tokens: ETH, XRP, and SOL. Among them, ETH has gained profits, while XRP and SOL have encountered losses. From the perspective of trading strategy, this trader seems to lack decisiveness, initially only opening positions in ETH, and then choosing to go long on XRP and SOL at high prices during the market surge. As a result, with the market correction, they may have also encountered psychological fluctuations. Therefore, all orders were closed, and although the final result was a profit, the trading style and mindset are not worth emulating.

The Firm Contrarian of the Market: Will the Big Players Shorting Heavily Be Able to Smile in the End?

Compared to the traders introduced earlier, this large account can currently be considered a temporary counterexample. As of May 13, data shows that this account has incurred a floating loss of 3.12 million dollars by shorting BTC, ETH, and SOL.

Starting from May 10th, this trader has continuously injected $50.5 million into Hyperliquid for shorting. The total amount of the cumulative positions exceeds $230 million, with over $110 million held in BTC. This trader appears to be a firm bear in the market, investing all $50.5 million into positions and not closing them for several days.

However, due to sufficient margin, the liquidation price of the account is also difficult to reach (BTC liquidation price is $142,000, ETH liquidation price is $4,254, SOL liquidation price is $294). From the overall position's profit and loss perspective, the current loss amount is only about 6%.

Of course, we cannot judge whether this trader's final direction is correct. We can only continue to pay attention and see if this mysterious market contrarian is a prophet who has predicted the market in advance, or merely a show of strength from someone with deep pockets.

Looking at these prominent large traders on the Hyperliquid platform, it is not difficult to find that their trading strategies are distinct and there is no "holy grail" that applies universally. Overall, these traders tend to choose highly liquid tokens such as BTC, ETH, SOL, and XRP as their trading targets. In terms of trading style, everyone has their own set of habits; some prefer high leverage, while others are accustomed to predicting market movements in advance. However, the positions and investments of these large traders clearly carry high risks, which is not suitable for ordinary investors to imitate, nor is it easy to replicate. After all, in the uncertain cryptocurrency market, only by continuously learning and forming one’s own trading system can one navigate steadily through the volatility.