Author: Monicah W

A crypto trader known as James Wynn has sparked widespread interest after reportedly earning over $46 million in profits within just two months on the decentralized exchange Hyperliquid.

Since March, he has bagged surprising profits by a series of high-leverage positions on Bitcoin and various meme coins, including PEPE, TRUMP, and Fartcoin.

Hyperliquid Trader Criticizes CEXs While Riding $46 Million Profit Wave

According to on-chain analytics firm Lookonchain, Wynn began actively trading on Hyperliquid around mid-March.

Since then, he has placed aggressive long positions with leverage ranging from 5x to 40x. Five of those positions remain open and are still generating significant unrealized gains.

Lookonchain reported that Wynn’s most lucrative position is a 10x long on meme coin PEPE, which has delivered approximately $23.8 million in unrealized profits. He also holds a 40x long on Bitcoin with about $5.4 million in paper gains.

Other notable trades include a 10x long on the Trump token, which netted $5.57 million. Another trade involves a 5x long on Fartcoin, which generated $5.15 million, and a 5x long on HYPE, which has yielded around $31,000.

His strategy and consistent performance have put him at the top of Hyperliquid’s trader leaderboard.

In the past 24 hours alone, he reportedly earned $11.4 million, further cementing him as one of the platform’s most successful traders.

Hyperliquid User Base Continues to Grow Despite Controversy

Meanwhile, Wynn has gained attention not just for his profits. He has also become a vocal supporter of Hyperliquid and a harsh critic of centralized exchanges.

In public posts, he alleged that platforms like Bybit manipulate token listings for internal gain, suggesting they often introduce tokens to dump them on retail traders.

He stated he would reject a $1 million monthly offer to trade on Bybit, citing ethical concerns.

They want me to trade on ByBit, I won’t stop using HyperLiquid even if they offer me $1m a month.

Half the reason I’m shilling my trades publicly is because I want HL to dominate the exchange market share because other exchanges are corrupted.

They will list anything to dump… pic.twitter.com/5AhcyKDw5g

— James Wynn (@JamesWynnReal) May 2, 2025

Instead, Wynn described Hyperliquid as a rare, trustworthy platform in the space. While the platform’s recent controversy surrounding the JELLY meme coin short squeeze has received widespread criticism, several whales and experienced traders continue to support it.

Hyperliquid is designed for perpetual futures trading and delivers rapid on-chain execution. The platform lets users control their funds fully without intermediaries, making it an attractive choice for many day traders.

Due to this, the platform’s rise has been swift over the past year. According to DeFiLlama, Hyperliquid now commands over 60% of the decentralized perpetual market, up from 44% as of the end of 2024.

The post A Trader Made $46 Million on Hyperliquid Using Bitcoin and 3 Meme Coins appeared first on BeInCrypto.

Cardano has seen a notable price increase in recent days, reflecting broader market improvements. The altcoin is currently trading at $0.79, marking a 17% gain over the past three days. 

Alongside favorable market conditions, bullish signals from the network itself indicate that Cardano’s price could be on the path to recovery of the 40% losses it sustained in March.

Are Cardano Investors Noting An Opportunity?

The MVRV Long/Short Difference for Cardano is currently sitting at -89%. This indicates that long-term holders (LTHs) are facing near-zero profits, with some even experiencing losses. On the other hand, short-term holders (STHs) of less than a month are seeing profits. 

This oscillating indicator reaches extreme negative values near the end of the bear cycle, as when STHs begin to sell, new investors typically step in to absorb the selling pressure.

This dynamic can help keep the price afloat and even push it higher, maintaining positive momentum. The shift could play a pivotal role in recovering from the recent losses.

Bullish technical indicators support Cardano’s macro momentum. The Moving Average Convergence Divergence (MACD) shows that bullish momentum is strengthening.

The rising green bars on the histogram suggest that the market is experiencing positive momentum, and the possibility of a bearish crossover is still distant. 

The MACD’s current trend supports the idea that Cardano is likely to continue its upward trajectory. As the market shows increasing bullish strength, Cardano’s price could rise further. 

ADA Price Attempts Recovery

Cardano is currently trading at $0.78, a 17% increase over the last three days, bringing it closer to the $0.80 resistance. This recent rally offers another opportunity for Cardano’s price to recover the 40% losses it experienced earlier in March.

If positive momentum continues, Cardano could break through key resistance levels and target higher price points.

A complete recovery would likely require Cardano to reach $1.13, but this could take more time. For now, the realistic target is to flip the $0.85 resistance into support.

If successful, this would lock in the recent gains and set ADA up for further growth towards $0.99, positioning it for a sustained recovery.

However, if Cardano fails to maintain its growth and drops below $0.74, the altcoin could enter a period of consolidation. In this scenario, the price would likely fluctuate between $0.74 and $0.66, invalidating the current bullish outlook.

The post Cardano Poised to Recover 40% Losses From March – Is the ADA Bear Cycle Over? appeared first on BeInCrypto.

The creators of the TRUMP meme coin have moved over $52 million worth of tokens to centralized exchanges, sparking debate about the project’s motives and transparency.

The token, themed after US President Donald Trump, has gained massive attention since its launch, but now faces scrutiny over insider activity and market impact.

TRUMP Team Describes $52 Million Token Transfer as ‘Liquidity Operations’

On May 10, on-chain analytics platform Lookonchain revealed that the team behind TRUMP deposited 3.5 million tokens, valued at more than $52 million, across three major exchanges—Binance, OKX, and Bybit.

According to the firm, Binance received the largest share at 1.5 million tokens, estimated at $22 million. OKX followed with 1 million tokens worth $15 million, while Bybit received just over 500,000 tokens valued at $7.5 million.

However, the TRUMP token team claimed the transfer aimed to strengthen liquidity and maintain stable market access.

They explained that the tokens came from a pre-designated liquidity wallet created during the project’s launch. The team also assured users that all recently unlocked tokens had been relocked and would remain so for 90 days.

“Demand for $TRUMP has been tremendous. On May 10, 2025 at approximately 1:30 am UTC, 3.5 million $TRUMP will be moved onto exchanges to further support liquidity operations to help ensure continued availability of $TRUMP for both buyers and sellers. All of this liquidity is being provided from a liquidity wallet from the initial launch,” the team stated.

While the team maintains that the token transfers are part of routine liquidity management, recent findings suggest a different story.

A CNBC report, citing Chainalysis, revealed that the team behind TRUMP has earned over $320 million in trading fees.

Furthermore, there is a wide gap between investor outcomes. Of more than two million wallets holding TRUMP, roughly 760,000 are currently at a loss.

In sharp contrast, only 58 wallets have each made over $10 million, together netting about $1.1 billion in profits.

This stark imbalance suggests that a small group of insiders may have captured most of the value generated by the token.

Essentially, the project’s close association with Trump, combined with uneven returns and insider profits, continues to cast doubt on its fairness and long-term viability.

According to BeInCrypto data, the token surged to $77 on its first trading day. However, it has since plummeted by 86%, trading near $14 at the time of writing.

The post TRUMP Meme Coin Insiders Move $52 million to Exchanges appeared first on BeInCrypto.

This week, the US Senate failed to move forward on a major stablecoin regulation bill called the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act).

On May 8, Democrat lawmakers united to block the bill, as 49 of them voted against advancing the legislation, while 48 Republican senators supported it.

Bipartisan Support Fractures as Key Democrats Reject Stablecoin Legislation

Notably, several Democrats who had previously backed or co-sponsored the GENIUS Act—including Ruben Gallego, Mark Warner, Lisa Blunt Rochester, Andy Kim, Kirsten Gillibrand, and Angela Alsobrooks —voted against it.

This marks a surprise, considering the bill had previously garnered bipartisan legislative support.

Gallego and several colleagues defended their move in a joint statement, saying the proposal lacked critical safeguards.

According to them, the bill needed to include stronger language on anti-money laundering, more robust oversight of foreign stablecoin issuers, and clearer enforcement tools to ensure compliance.

They also cited national security concerns and the stability of the broader financial system among their unresolved issues.

“We recognize that the absence of regulation leaves consumers unprotected and vulnerable to predatory practices. We have approached this process constructively and with an open mind, with the understanding that additional improvements to the bill would be made,” the lawmakers stated.

However, Republican lawmakers like Pete Ricketts criticized the vote outcome, accusing Democrats of prioritizing political interests over policy progress.

Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, argued that Senate Democrats missed a chance to enact sensible reforms to boost innovation and secure the US as a leader in financial technology.

“This bill wasn’t about politics—it was about building the future. It was about modernizing our outdated payment systems, and securing our position as the global standard-setter in financial technology. Instead, Democrats caved to fringe ideological factions, abandoning the opportunity to bring clarity to the market and foster American innovation,” Hines wrote on X.

Meanwhile, Matt Hougan, Chief Investment Officer at Bitwise, called the outcome “deeply unfortunate.” He warned that the absence of clear regulations could stall stablecoin adoption and suppress market growth, especially for altcoins.

Hougan also noted that a regulatory stalemate could lead to increased volatility across non-Bitcoin assets this summer.

“If stablecoin and market structure legislation grind to a halt in DC, it’s going to be a long summer for non-bitcoin crypto assets,” he noted.

Tether Welcomes Updated Stablecoin Bill

Following the failed vote, a newly updated draft of the GENIUS Act has surfaced with notable changes.

The new draft narrows its list of sponsors to Republican Senators Bill Hagerty, Cynthia Lummis, Tim Scott, and Dan Sullivan. Democrats Kristen Gillibrand and Angela Alsobrooks, who had previously backed the bill, were removed from the updated version.

The latest draft expands US jurisdiction to cover foreign stablecoin issuers like Tether that serve American users. It also refines the legal definition of digital asset service providers and updates the types of assets that can back stablecoins.

These changes suggest a push for broader oversight and greater flexibility in reserve management.

Meanwhile, Tether CEO Paolo Ardoino responded positively to the bill’s revisions. He said the company supports constructive regulation and looks forward to further engagement with US policymakers.

According to Ardoino, establishing a solid regulatory framework could help secure the US dollar’s dominance in global markets.

“We acknowledge and appreciate the hard work that the administration has done to support the legislative process regarding this transformative technology…We look forward to the government’s continued efforts to legislate in a way that promotes global dollar hegemony,” he said.

The post GENIUS Act Stalls in Senate as Democrats Cite AML and Oversight Shortcomings appeared first on BeInCrypto.

TRUMP has experienced a notable 15% increase over the past week, following a period of volatility that marked the losses in February and March. 

Despite this recovery, the altcoin continues to face market fluctuations. However, improving macroeconomic conditions are providing a more favorable environment for TRUMP, potentially setting it up for further gains.

TRUMP Investors Are Optimistic, But For A While

The ADX (Average Directional Index) shows that the bullish sentiment surrounding OFFICIAL TRUMP has not lost its strength, despite recent volatility.

Market participants are responding positively to recent developments, including the US closing a trade deal with the UK and entering talks with China to discuss tariffs. These diplomatic moves cast President Donald Trump in a favorable light, contributing to TRUMP’s price increase.

This growing optimism surrounding the US government’s trade efforts is benefiting TRUMP holders. As the market sentiment remains generally positive due to these geopolitical events, TRUMP’s price has seen a corresponding rise.

The overall macro momentum for TRUMP is influenced by shifting global sentiment. The weighted sentiment metric, which tracks market perceptions, spiked after the US-UK trade deal was announced. TRUMP holders showed excitement over the news, but the metric quickly declined.

As the initial excitement fades, it becomes clear that TRUMP’s price movement may not be entirely driven by long-term investor confidence. The reliance on short-term political developments could prove risky for the cryptocurrency, especially if future market sentiment shifts again.

TRUMP Price Banks On News

TRUMP is currently trading at $14.47, showing a 15% price increase over the past week. The altcoin is approaching the critical resistance level of $14.53, with the next target being $17.14.

Should TRUMP breach this resistance, it may continue its upward trajectory, potentially breaking further barriers and continuing its recovery from the recent downturn.

If trade talks between the US and China prove successful, it could positively influence President Trump’s image, pushing the price of TRUMP towards $20.00. This would signal a stronger market outlook and further boost investor confidence in the altcoin.

Successful trade agreements could create more positive momentum, further fueling TRUMP’s price growth.

However, the bullish outlook for TRUMP could be invalidated if the price falls back below the $13.36 support level. A drop to $12.18 or $10.29 would erase recent gains, signaling a shift in sentiment and possibly triggering a period of consolidation.

This would indicate that the current rally was more short-lived than sustainable.

The post TRUMP Jumps 15% Amid the US-UK Deal and Gala Dinner Hype – What’s Next? appeared first on BeInCrypto.