James Wynn, the pseudonymous trader known for his billion-dollar bitcoin (BTC) positions, has returned to the market with a new leveraged trade on ASTER. Despite a recent liquidation on the same token, Wynn has opened a substantial 3x leveraged long position on ASTER, the native token of the Aster perpetuals exchange.
The new position is valued at over $16,000, with an entry price of $1.97 and a liquidation level near $1.57. Onchain monitoring service Onchain Lens first identified this strategic move.
Although smaller than his previous billion-dollar bets, this trade likely serves as a hedge for other ASTER positions. Wynn publicly stated on X that he is "farming the $ASTER airdrop" and believes it "will be one of the biggest in crypto history."
This represents Wynn's latest high-risk strategy on Hyperliquid, the same on-chain derivatives platform where he previously executed a $1.2 billion bitcoin long with 40x leverage. That position resulted in a $17.5 million loss before he switched to a billion-dollar short position that ultimately netted him $25 million in profits.
Wynn's trading history demonstrates his appetite for extreme leverage and high-risk strategies in the cryptocurrency market.