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Big Whale James Wynn has made a purchase of this altcoin according to Onchain Data!
In the Crypto currency world, whale trader James Wynn, known for his large Bitcoin long positions opened on the decentralized crypto exchange Hyperliquid, made a small purchase of an altcoin today according to on-chain data.
The data shows that James Wynn used $104,000 worth of ETH to purchase 2.44 trillion ZEUS. However, it should also be noted that this token is a memecoin with no intrinsic value and could potentially be fraudulent.
James Wynn was recently accused of hedging his Bitcoin long positions, which he opened a short time ago, with a separate short position on centralized crypto exchanges in an anonymous manner. Wynn may be aiming to benefit from Hyperliquid airdrops by recording high trading volumes without incurring any losses.
Wynn has recently been in the news due to the significant losses apparently incurred in the long positions he opened. However, if the alleged hedge position exists, it can be said that Wynn acted in a way that would mislead his followers.
*It is not investment advice.
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