22 liquidations later, James Wynn is still betting against the SP500
James Wynn has now been liquidated 22 times while shorting Hyperliquid’s SP500 perpetual futures contract, according to on-chain tracker Onchain Lens on August 3. His latest liquidation came roughly 40 minutes before the update.
As per S&P Dow Jones Indices, SP500 perpetual is “the first and only officially licensed perpetual derivative contract based on The 500®,” which permits qualified investors to trade the S&P 500 in any direction at any time without requiring ownership of the underlying stocks.
Although the underlying asset relates to U.S. stocks, the trading is fully happening through Hyperliquid, making Wynn’s losses a significant crypto event. His many liquidations demonstrate the risks—and strength—of decentralized perpetual futures markets.
James Wynn has now been liquidated 22 times on $SP500.
His latest liquidation occurred 40 minutes ago.
His realized losses on the asset have reached ~$73.1K.
Despite the repeated liquidations, Wynn still holds a 70.50 $SP500 short worth ~$530.9K at 50x leverage.
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