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Trader’s $1 Billion Wager Says BTC Climbs This Week

by admin May 23, 2025

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A high-stakes wager has landed a crypto trader in the headlines. He’s known online as James Wynn, and he’s placed almost $1 billion on Bitcoin rising further. He started piling into a bullish position last week and hasn’t said when he plans to exit.

Bitcoin Bets Hit Billion Dollar Mark

According to Wynn’s posts on X, his position reached about $1 billion on May 21. He’s using $20 million of his own funds and borrowed to make the trade roughly 40 times bigger than his stake. The bet sits on Hyperliquid, a decentralized exchange where traders can open perpetual futures positions. Wynn has already closed part of it, trimming the size to just over $800 million as Bitcoin climbed.

Lookonchain data shows he jumped in around a BTC price of $108,084 and set his “kill switch” just below $103,640—so if Bitcoin dips that far, the whole trade goes bye-bye. As of early Thursday, that bet was sitting on a cool $40 million in unrealized gains.

Source: HyperDash

Trader’s Past Success With Memecoin

Wynn didn’t emerge from nowhere. In 2023, he predicted the Pepe memecoin would hit a $4.2 billion market value. That bet paid off in a big way when Pepe peaked at more than $11 billion in December 2024. A wallet tied to “jwynn.eth” even sent $7 million of Pepe tokens to Binance in May 2024. Based on reports, that move helped him pull in eight-figure gains.

Bitcoin just broke through $111,900!

Top trader @JamesWynnReal‘s 40x leveraged long position of 10,200 $BTC($1.14B) is now sitting on an unrealized profit of over $39M!https://t.co/Xy0EC0h5Cw pic.twitter.com/5UlbeiA984

— Lookonchain (@lookonchain) May 22, 2025

Huge Risk Tied To Price Drop

His trade isn’t without danger. If Bitcoin falls below $100,850, the position could be wiped out. Wynn has said he’d add more money rather than face liquidation. In turbulent markets, minor declines can be the trigger for cascade-like forced liquidations. Any substantial amount of money put into the market begs the question: If prices were to shift just a few percent in either direction, would serious losses be incurred?

BTC is currently trading at $110,783. Chart: TradingView

Market Logic Favors This Move

Reportedly, the May chances of Bitcoin hitting $115,000 are pegged at 64% or thereabouts, as per Polymarket. Standard Chartered’s Geoff Kendrick also has a bullish view. He predicts Bitcoin could top $120,000 before the end of July. Those forecasts line up with Wynn’s own target of $115,000–$118,000 by the end of next week, and even $118,000–$122,000 shortly after.

Update on my little $BTC long position.

Reduced position size today, took some profits around $110k -$111k.

Seemed like a nice spot to TP, and seems others are doing the same right now.

In my opinion bitcoin is dying to breakout higher. My target remains the same of… pic.twitter.com/BUfWTuqpoU

— James Wynn 🐳 (@JamesWynnReal) May 22, 2025

Positioning In A Shaky Market

Bitcoin had reached about $111,800 on May 22, 2025, before the slight pullback. Traders pointing at rapid gains also warn of quick drops. On decentralized exchanges, the funding-rate costs might add up. Large orders on Hyperliquid might face slippage, which would move the market against Wynn should he try to unwind too quickly.

People see the trades and think its some high level stupid gambling kinda shit, and yes it is. But it is backed by my own thesis. Which in turn, is a calculated risk.

Since local bottom of 74k bitcoin has remained in this channel. Touching the bottom acting as support just two… pic.twitter.com/wenpkcWKrG

— James Wynn 🐳 (@JamesWynnReal) May 20, 2025

Calm Words From A Risk-Taker

“People see this as high-level gambling, and yes it is,” Wynn said. He added that his bets rest on what he calls a solid thesis. Whether he’s right or wrong remains to be seen. For now, his willingness to risk large sums has drawn both admiration and caution from onlookers.

Featured image from Unsplash, chart from TradingView

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May 23, 2025 0 comments

GameFi Guides

Toobit: Unpacking A Full-Service Crypto Exchange For Modern Traders

by admin May 23, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Although Toobit is a relatively new entrant in crypto trading, it’s already making a great impression in the crypto trading industry. Launched in 2022 and backed by big investors such as Bybit and Huobi Ventures, the platform now has over 3 million active users, 200,000+ community members, and more than $15 billion in daily trading volume. And it’s not just hype—Toobit is trying not to be merely a crypto exchange. So, what exactly sets Toobit apart from other crypto exchanges?

Split or Merge? Flexible Trading And Real Utility

One of the standout features of Toobit is its position management tools. While most platforms offer a one-dimensional approach, Toobit gives users a choice between split mode or merged mode. In the split mode, every trade is handled independently, making it ideal for multi-strategies and multi-directional trading. Merged mode, on the other hand, streamlines the process by consolidating trades in the same direction into a single position — perfect for traders who prefer a cleaner interface and minimal micromanagement.

For high-volume or institutional traders, Toobit offers API integrations for algorithmic trading and portfolio management, as well as high-liquidity trading environments. Users can access over 450 tools, including cryptocurrencies, derivatives, trading bots, and demo trading. Institutional traders can also apply for customized withdrawal limits and other tailored services.

Being able to run both long and short positions simultaneously is also an advantage on Toobit, especially for more advanced trading strategies. This level of flexibility is uncommon among retail-facing exchanges and will undoubtedly appeal to traders who value greater control and customization.

Copy trading is another standout feature, offering over 40 zero-slippage trading pairs. Combined with automated tools such as Futures Grid and DCA (Martingale), Toobit provides a well-equipped toolkit for users looking to streamline and optimize their trading strategies.

Simple But Practical

The user experience is quick and friction-free. New users can sign up and deposit in under two minutes. Both the desktop and mobile interfaces are well-designed and functional, offering features such as alerts, trade volume notifications, and customizable portfolio views.

For those who need guidance, Toobit provides a range of educational resources, including tutorials, FAQs, and a help center. Customer support is available 24/7 through multiple channels, including Telegram and WhatsApp. It may not be groundbreaking, but it delivers the level of convenience users now expect in 2025.

Fees That Make Sense

Fees are often the dealbreaker for crypto traders, especially high-frequency ones. Toobit keeps it simple. No charges to open or maintain an account, no inactivity or portfolio transfer fees. Buying crypto incurs a 0.1% fee, and selling is slightly cheaper at 0.075%. Deposit fees? Zero. Withdrawal costs vary by blockchain network.

Crypto swaps incur no fees, which is a rare and valuable advantage. While fiat on-ramp services do carry fees, these are charged by third-party providers such as Simplex—not by Toobit itself.

Security And Trust

Toobit takes security seriously. There has been no record of a data breach. No evidence of customer information being sold or misused, and it employs standard features such as 2FA (via SMS, email, or third-party apps), security PINs, and device recognition. The platform stores cold wallets on air-gapped devices and protects hot wallets with AES-256 encryption and AI-powered surveillance tools. Standard stuff, but well-executed.

To minimize risks, the platform’s Bee-Safe technology incorporates multi-layered security, including hardware security modules and multi-party computation wallets. Toobit also partners with top blockchain security firms such as Beosin and Elliptic for regular audits.

Community And Global Reach

Toobit is creating a global community. With over 200,000 community members and 3,000 active influencers across major regions, such as in the US, UK, East Asia, and CIS countries, the exchange is rapidly expanding. The platform’s interface is available in 11 languages, making it accessible and user-friendly for international users.

The referral and affiliate programs provide an added layer of engagement, rewarding users with commissions and bonuses for bringing new traders to the platform.

Beyond Trading: Toobit’s Ecosystem In The Making

Toobit goes beyond traditional features by offering a Telegram Mini App that allows users to send and receive crypto gifts. Gifts can be sent as “Standard” (equal split) or “Lucky” (random distribution), and claimed funds are deposited directly into users’ Spot accounts.

Its partnership with NovaMeme also shows Toobit’s commitment to bridge the gap between centralized and decentralized finance. This integration offers early access to IDOs, cross-chain token swaps, and DEX services across ecosystems such as Solana, Ethereum, and Binance Smart Chain.

Final Take

Toobit doesn’t reinvent crypto trading but enhances many core features while offering greater flexibility than most platforms. With split and merged position options, zero-slippage copy trading, robust security, and low fees, it delivers a well-rounded trading experience.

There’s no NFT support, and some features might be underutilized by casual traders. But overall, Toobit is definitely worth checking out—especially for traders seeking a customizable, low-fee, high-performance trading environment.

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May 23, 2025 0 comments

GameFi Guides

XRP Traders Remain Overwhelmingly Long on Binance

by admin May 22, 2025

XRP traders remain bullish
XRP active addresses show steady activity

XRP traders on Binance appear to be bullish as long positions have surpassed shorts over the last few days. The latest Coinglass chart for the XRP/USDT perpetual market indicates that longs continue to dominate—an indication that most traders expect a rise in XRP price in the coming days.

XRP traders remain bullish

A comparison of the long and short positions on the chart shows that the longs (green bars) make up over 70% of total positions during the observed period. Shorts (red bars) have barely gained any significant momentum.

However, XRP sentiment hasn’t been entirely stable, as the line graph displays sharp dips and rebounds. Around May 19, interest from longs dipped temporarily, with shorts gaining the upper hand before a quick recovery. During this period, the percentage of long accounts dropped closer to 50% before rebounding.

This shift reflects some uncertainty in the market, but the sharp return to a higher long ratio shows a strong underlying belief by traders that XRP price could recover and continue rising.

XRP active addresses show steady activity

Meanwhile, data from Glassnode shows that the number of active addresses on the XRP network has fluctuated noticeably over the past ten days. As of May 12, active addresses stood slightly above 38,000. However, a sharp decline followed, with the number dropping to about 33,000 by May 16.

On May 17, there was a sudden spike in activity, with active addresses rising to nearly 44,000—the highest level during this period. Twenty-four hours later, the number fell below 30,000 and remained in that range for the next three days. Then, on May 21, it rebounded to approximately 33,000.

Source: Glassnode

As of the latest CoinMarketCap update, XRP is trading at $2.41 after a 1.28% gain in the last 24 hours.

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May 22, 2025 0 comments

Why did Bitcoin just hit an all-time high?

Crypto Trends

Bitcoin rips all time high, derivatives traders not euphoric: Deep dive

by admin May 22, 2025

Bitcoin rallied past its previous all-time high in the USD and USDT markets on Wednesday and extended gains on Thursday, climbing to a peak of $111,880. Bitcoin’s breakout failed to usher euphoria among traders and the reaction on derivatives traders was muted, relative to previous BTC price rallies.

Ethereum (ETH) struggles to attract institutional inflows even as ETH rallies alongside Bitcoin (BTC) in its price discovery. Altcoins in the top 50 cryptocurrencies ranked by market capitalization are in the green, rallying in the last 24 hours.

Bitcoin derivatives analysis

Analysts at 10xResearch and Amberdata are in agreement on the fact that spot market strength and not speculation, is driving gains in BTC. Bitcoin’s rally beyond $111,000 failed to kick in a euphoria among traders and the long/short ratio across top derivatives exchanges is above 1. While this indicates that traders are bullish on BTC and expect further gains, on previous instances like the 2017 and 2020 cycles, the ratio exceeded 2.

The 24-hour liquidation data shows $175 million in shorts liquidations and over $47 million in long positions were liquidated. Bearish traders are being punished for betting against Bitcoin price rally, but the key question is, how high will Bitcoin go?

Bitcoin derivatives data analysis | Source: Coinglass

Bitcoin futures open interest chart on Coinglass shows a massive spike in OI. Open derivatives contracts in Bitcoin crossed a total of $78 billion in OI on May 22. OI is climbing alongside Bitcoin price, signaling strength in the BTC uptrend. Traders are confident of further gains in Bitcoin price.

Bitcoin futures open interest | Source: Coinglass

Funding rate has been positive since May 8, consistency in the green bars in the funding rate chart below shows how derivatives traders are positioning themselves for further upside in Bitcoin. A positive funding rate fuels a bullish narrative for an asset, in the case of Bitcoin this supports a thesis of gains.

Bitcoin Funding Rate (USD-24h) | Source: Bitcoin Magazine Pro

Ethereum technical and derivatives analysis

Ethereum on-chain data shows a slight increase in OI, less than 7% in the last 24 hours. In the same timeframe, the long and short liquidations in Ethereum were nearly the same amount, above $60 million.

The long/short ratio across top derivatives exchanges is less than 1, even as options volume surged nearly 60%. There is no clear indication of a bullish or bearish bias among Ethereum’s derivatives traders.

Ethereum derivatives data analysis shows the largest altcoin lags behind relative to Bitcoin, in terms of interest and activity from derivatives traders.

Ethereum derivatives data analysis | Source: Coinglass

The open interest chart on Coinglass shows, even as ETH breaks past $2,600, the OI lags levels previously seen in January and February 2025. A successful implementation of the latest technical upgrade failed to fuel a bullish sentiment among traders and catalyze gains in the altcoin.

Ethereum futures open interest (USD) | Source: Coinglass

The ETH/USDT daily price chart shows ETH is currently trading 12% below its psychologically important target of $3,000. ETH has established support at $2,415, and further gains are likely as RSI slopes upwards and MACD flashes green histogram bars above the neutral line.

Ethereum’s target is the $4,578 level, as seen in the ETH/USDT price chart. The altcoin’s previous all-time high is the $4,878 level.

ETH/USDT daily price chart | Source: Crypto.news

Crypto trader sentiment and why euphoria is missing

The Fear and Greed Index Chart on CoinMarketCap shows that even as Bitcoin enters price discovery, the levels of “Greed” observed in November 2024 were the highest. Trader sentiment is not as euphoric as one might expect, at the time of writing it reads 73.

Extreme greed is typically correlated with cycle peaks or yearly tops. Above $110,000 Bitcoin is still lagging in terms of bullish sentiment among traders.

This may be a positive sign as it supports the thesis that the cycle top is still away and traders are likely waiting and watching for the next pullback and rally in BTC.

Fear and Greed Index chart | Source: CMC

How high can Bitcoin go?

Bitcoin’s target is the $122,000 level that coincides with the 127.2% Fibonacci retracement of its 50% rally from April 7 low to May 22 peak. BTC is currently less than 10% away from its target and technical indicators on the daily price chart support likelihood of further gains.

RSI is sloping upwards and crossed into the “overvalued” zone and MACD flashes consecutive green histogram bars. If Bitcoin tests resistance at $122,000 and breaks past this level, the next target at $127,352 comes into play.

The $127,352 target is the 141.4% Fibonacci retracement level for Bitcoin in its ongoing upward trend. While analysts at Bernstein pushed their target for Bitcoin to $200,000 in 2025, it is likely that BTC crosses the $127,000 level before June 2025, based on its gains since April 2025.

BTC/USDT daily price chart | Source: Crypto.news

Shubh Varma, the CEO of Hyblock Capital told Crypto.news that from a technical perspective, he sees the most reliable support zone between $101,000 and $102,500. Exchanges like Binance and Bybit have seen “heavy open interest entries that trap shorts and attract fresh longs,” in this zone.

Bitcoin pushed above resistance between the $105,000 and $106,000 level early on Thursday. It remains to be seen how long Bitcoin holds above the FVGs on the daily timeframe.

Bitfinex analysts told Crypto.news in a written note that the team is watching minor liquidity walls between $114,000 and $118,000 and the $123,000 to $125,000 zone is where large options open interest is building. These are key areas of interest for traders to watch in the coming weeks of May 2025.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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May 22, 2025 0 comments