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There is a story about a trader worth sharing. This guy is named James Wynn, account address 0x507, who initially deposited $20,000 on Hyperliquid to go long on PEPE. At first, he was lucky, and his account skyrocketed to a high of $900,000, and he must have been very proud at that time.
But the turning point came quickly. On January 8th, his position experienced 12 consecutive liquidations. Imagine how that felt—one after another of margin calls, his account size being cut in half repeatedly, dropping from $900,000 to almost nothing. It looked like it was about to be wiped out completely.
The good news is that he survived. During the recent market rally, he chose to exit completely. Today, he closed all PEPE and ETH long positions, withdrawing about $41,000 from the platform. The final account result: PEPE made a profit of $110,000, but ETH lost $160,000, so overall, he still made about $20,000.
Interestingly, on January 1st, he even boasted on social media that PEPE's market cap could surpass $69 billion by 2026, and he boldly said he would delete his account if it didn't happen. Now, PEPE's market cap is at $2.54 billion, so it seems there's still a long way to go.