High-stakes crypto trader shifts focus from Bitcoin to ASTER amid anticipated airdrop
James Wynn, the pseudonymous trader known for a billion-dollar Bitcoin long, has re-emerged with a leveraged position on ASTER just days after suffering liquidation. Wynn now believes ASTER’s upcoming airdrop could be among the most significant events in crypto history.
Wynn has taken a 3x leveraged long position worth more than $16,000 on ASTER, the native token of the fast-growing Aster perpetuals exchange. Entering at $1.97 with a liquidation point near $1.57, the trade appears smaller than his billion-dollar Bitcoin wagers, but signals his conviction in the project.
Wynn’s latest move comes on the heels of a string of dramatic trades on Hyperliquid, an on-chain derivatives platform. Earlier this year, he opened a $1.2 billion long on Bitcoin using 40x leverage, which ultimately closed with a $17.5 million loss. He later flipped into a billion-dollar short and, despite the volatility, walked away with $25 million in net profit.
“I’m farming the $ASTER airdrop,” Wynn wrote on social media. “I believe it will be one of the biggest in crypto history.” His comments highlight expectations that ASTER’s distribution will drive significant liquidity and trading activity on the new derivatives platform.
History of High-Risk Trading
Analysts note that Wynn’s ASTER trade may function as a hedge against larger undisclosed positions, rather than a standalone bet. “High-leverage traders often use smaller directional trades to balance exposure on other plays,” one market observer explained.
ASTER’s Role in Emerging Crypto Markets
The Aster perpetuals exchange has been gaining traction among derivatives traders, with its native token positioned at the center of upcoming rewards. If the airdrop meets expectations, ASTER could attract significant inflows and establish itself as a competitor in the crowded on-chain trading space.
For Wynn, the bet represents another chapter in his pattern of high-risk, high-reward strategies. Whether it ends in another liquidation or a major win, his moves continue to capture the attention of the broader crypto community.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.