James Wynn, a trader, has opened a significant $1.1 billion long position on Bitcoin using 40x leverage on the decentralized exchange Hyperliquid, marking a notable trend in capital migration toward decentralized finance (DeFi). The position, associated with wallet address '0x507', currently holds over $40 million in unrealized profit. It was initiated at an entry price of $108,084, with a liquidation price nearing $103,640. As of the latest updates, Wynn has previously sold 540 BTC for a profit of $1.5 million, following which BTC has seen pullbacks in the past. Hyperliquid offers decentralized trading features, including real-time order books and low gas fees, and does not require KYC, appealing to significant players like Wynn. This development indicates a shift where larger investors are looking to execute substantial trades on blockchain platforms, enhancing liquidity and speed.

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