James Wynn has opened a position again.

Social media has started to track, on-chain analysis accounts quickly take screenshots, and within the community, some guess the top, some bottom out, and others wait for the next liquidation. For the vast majority of ordinary users, this is often just a lively piece of news: the positions are astonishingly large, profits and losses change rapidly, but by the time everyone has finished discussing, the market has already moved on.

The question is, when a well-known address repeatedly takes large positions, retrenches, adds margin, and even faces liquidation, what can we do besides just watch?

In the past, the answer given by following products was to look for winners. Users would follow whoever had high returns or impressive track records. But the market does not always reward the same style, and former winners can lose their rhythm after a market switch. However, “reverse smart money following” attempts to invert this familiar logic: not only tracking who is making money but also who is consistently making mistakes; not only copying the correct answers in the market but also identifying those repeated wrong answers.

When the target address goes long, users short as set; when the target address shorts, users go long as set.

In simple terms, the real change lies in: the previously scattered whale positions, historical profits and losses, and liquidation records on Hyperliquid need to be aggregated into reverse signals that ordinary users can understand, choose, and automatically execute.

The market has changed direction; the way we seek signals should also change

The bull market most easily creates “smart money.” When prices are continually rising, aggressive positions, high leverage, and continuous long positions can yield dazzling returns; a bold bet can quickly turn an address into a target for the entire market. Users see a constantly rising profit curve and easily interpret periodic success as a stable ability.

The bear market, however, exposes many issues that had been masked by rising prices.

According to CoinGecko data, as of June 24, 2026, Bitcoin has retracted nearly 50% from its sample peak over the past 365 days. As the market shifts from a unilateral rise to severe fluctuations or continuous declines, previously effective methods start to fail: chasing the rise is more likely to lead to buying at the end of a rebound, bottoming can happen halfway up, and accounts relying on high leverage will experience fluctuations far exceeding those of spot users in a short time.

Professional traders can short based on trends, hedge, or quickly adjust their positions, but many ordinary crypto users do not have a complete trading system. They can understand a “bad market,” but they don’t know how to operate in a bad market; they encounter a large amount of news, KOL opinions, and group chat signals daily, but find it hard to judge which pieces are worth acting on; they want to take advantage of falling prices, yet have no time to track on-chain addresses and cannot instantly analyze and place orders after whales open positions.

Market earners are inherently in the minority. The Bank for International Settlements' historical study of crypto application downloads and Bitcoin price data across 95 countries estimated that about 73% to 81% of global crypto investors in its sample may incur losses. The study also observed that small investors are likely to enter the market after prices have risen. This does not mean that merely acting in the reverse will make one a winner, but signifies that chasing price rises, overconfidence, and a lack of discipline are not anomalies, but rather behaviors that keep repeating in high-volatility markets.

This gives following products a new direction. Traditional smart money following seeks addresses with excellent performance, helping users leverage professional traders' judgments; reverse smart money following observes characteristics such as long-term net losses, frequent high leverage, serial liquidations, and counter-trend position increases, trying to identify another class of signals from continual errant behaviors.

The two are not conflicting. One seeks correct behavior in the market, while the other identifies erroneous behaviors. As markets become more complex, what users need is not deeper faith in a particular "guru," but rather more diversified and transparent judgment criteria.

This is especially suitable for users who have not yet formed a trading system. In the past, they typically had three choices when facing a weak market: continue to go long based on bull market experience, frequently switch their trusted KOL, or simply leave the market and wait for the next round of rises. The first option easily amplifies losses, the second hands decision-making over to chance, and the third means foregoing opportunities in a volatile market. Reverse smart money following does not predict rises or falls for users, but adds a new pathway beyond these three options—when market errors become clear enough, even errors can be used as a source of signals.

What is most scarce in a bear market is not opinions, but choices beyond direction. Able to go long, also able to go short; able to observe winners, also able to identify losers' behaviors; able to set parameters themselves, also able to start with preset plans. The richer the tools, the less users need to bet all their judgments on one person, one sentence, or one direction.

Smart money may fail, but the chain won't forget

The most important premise of reverse following is that errors must be visible.

On traditional social media, what users often see are profit screenshots actively displayed by traders. Losses can be left out, failures deleted, and transfers of funds between accounts are hard for ordinary users to detect. The difference with Hyperliquid is that positions, transactions, account values, and profit and loss histories can be queried through public interfaces and block explorers. A highlight will leave a record, and a liquidation also won't disappear.

James Wynn and “Machi Big Brother” are two of the most watched examples under this chain transparency. They hold enormous positions, have created astounding unrealized profits, and have been continuously tracked by the entire market due to high leverage, directional judgment, and multiple liquidations.

As of June 24, 2026, Hyperliquid's public data shows that the address widely attributed to James Wynn had a historical account value that reached approximately $80.63 million, currently about $16,200, with a cumulative profit and loss indicator for perpetual contracts of approximately -$23.34 million; the address widely attributed to Machi Big Brother had a historical account value that reached approximately $44.47 million, currently about $117,700, with a cumulative profit and loss indicator for perpetual contracts of approximately -$33.65 million.

What deserves the most attention in these numbers is not how much a particular person has lost, but rather that enormous funds, widespread recognition, and past highlights do not guarantee that a trader is always right. When accounts continue to use high leverage and keep increasing positions in the wrong direction, risks will repeatedly manifest in very similar ways.

Of course, a single loss does not make an address a “reverse indicator.” What reverse smart money following pays attention to is not the win or loss of a single transaction, but rather combinations of behaviors over a longer timeframe: whether losses are persistent, whether retracements repeatedly occur, whether leverage remains high over the long term, whether liquidations are repetitive, and whether recent trading styles still align with past error patterns. Only when multiple dimensions point to the same conclusion can an address potentially enter the observatory pool of reverse addresses.

On-chain data will not predict the future for users, but it can allow users to listen to fewer stories and see more real results.

Sustaining an updating screening logic is one of the core competencies of reverse smart money following. An address will not permanently reside in the reverse address pool due to one liquidation, nor will it be prioritized by the system simply because it is well-known. When its win rate recovers, trading style changes, or recent behavior no longer meets reverse conditions, the signal weight can be adjusted accordingly; when new addresses show long-term losses, high leverage, and repetitive liquidations, they can enter the observation scope. Users are not following a fixed “crypto reverse indicator list,” but rather a set of discovery mechanisms that continually update with the data changes.

This is more valuable than creating a hot topic around a particular KOL. Figures can bring first glances of attention, but data can support users in making the next action. James Wynn and Machi Big Brother are easy-to-understand entry points, but the true product capability lies in continuously discovering similar patterns from more public addresses.

What CoinW aims to do is turn "seeing errors" into "being able to act"

Discovering a persistently losing address does not mean ordinary users can utilize it.

Users first need to find the address, then read complex transaction records to judge if it is an accidental failure or a long-term inefficiency; they also need to determine what positions it just established, whether prices have changed, how much they should invest, and when to take profits or cut losses. By the time this list of actions is completed, the original signal may have already lost its value.

This is precisely the distance that CoinW's reverse smart money following aims to shorten.

In product planning, the smart money radar will take on the task of “discovery.” The system aggregates trading data from Hyperliquid public addresses to form address profiles based on win rate, cumulative profit and loss, maximum retracement, trading frequency, leverage preference, liquidation history, and recent performance. What users see is no longer an incomprehensible string of wallet characters, but a comparable trading profile: how it performed in the past, whether it is still losing recently, which assets it typically trades, and what the risk level is.

When an address generates a new position that meets the criteria, the system will convert it into a reverse signal. If the address goes long, it corresponds to reverse shorting; if the address shorts, it corresponds to reverse going long. However, the system doesn't simply flip the direction, it also needs to consider price deviations, signal timeliness, trading liquidity, and user risk settings to avoid treating news that is already late as a new opportunity.

Ultimately, the complex on-chain tracking is compressed into three actions users can complete:

Select reverse targets → Choose preset plans or set parameters → Start automatic following.

Specifically, for the user interface, users can enter through the familiar following path: open the CoinW official website or APP, go to the "Following" page, find "On-chain Smart Money", click on the "Reverse Lantern", then choose the target and plan as prompted on the page, and the reverse following can be initiated. This means users do not need to first learn to track Hyperliquid addresses, nor do they need to switch back and forth between multiple tools; reverse signals will be integrated into the existing following scenarios at CoinW, becoming a more easily found and executed entry.

For new users lacking a mature trading system, the platform plans to offer easier-to-understand preset plans. Users need not study margin ratios, slippage, and complex parameters for the first use but can start with relatively small funds and lower leverage. For users familiar with trading, they can set following amounts, leverage, take profit and stop loss, maximum loss, and slippage range, allowing strategies to closely align with their risk preferences.

Once activated, users also do not need to stay glued to the screen waiting. Whales may open positions late at night, and the market won't pause for anyone. The system automatically executes according to the rules set in advance by users, letting “discovering addresses—judging directions—placing orders” no longer depend on manual monitoring.

What is truly important in this process for ordinary users is not to turn everyone into professional traders suddenly, but to convert professional data into practical usable product capabilities. Users still decide who to follow, how much to invest, and how much risk to take; the system takes care of the on-chain data work they do not have the time or capability to complete continuously.

Traditional following positions users behind winners, while reverse following gives users the opportunity to stand on the other side of errors. CoinW incorporates both choices into the same product ecosystem, allowing users not just to chase after rises in bull markets or only wait in bear markets.

This is also the difference that CoinW emphasizes compared to ordinary “reverse order” functions. Reverse smart money following starts from external on-chain addresses, first discovering and filtering behaviors, then generating signals, and finally executing through CoinW. This is a transaction link driven by public data.

In this link, users do not need to transfer funds to unfamiliar on-chain protocols, nor do they have to open address analysis tools, block explorers, and trading pages separately. Public on-chain data provides clues, CoinW products organize and execute, and users make the final choices. For first-time users encountering on-chain whale following, this one-stop experience is more important than merely adding more professional parameters: the complexity is left within the system, presenting users only with targets, plans, risk boundaries, and confirmation buttons.

The next liquidation, one need not just be a bystander

Imagine a more specific scenario.

The well-known address you are following establishes a high-leverage position again. In the past, you might have first seen a screenshot on social media, then entered group chats for discussion, and finally, after the price has already changed significantly, decided whether to act. After the launch of reverse smart money following, the system can directly push address changes while displaying its historical win rate, cumulative profit and loss, liquidation records, and recent performance. You do not need to leave the product to look for different sources, nor do you have to calculate a position plan you are not familiar with.

If you believe the signal is worth paying attention to, you can start small with a preset plan; if you want to control it yourself, adjust your position, leverage, and stop-loss before activating. As the target address subsequently changes direction, the system continues to execute according to the established rules; you can also stop, switch addresses, or close positions at any time.

This is where reverse smart money following differs from a liquidation news piece. News can only tell you "what happened," while the product must further answer "what can you do now."

Around this product, CoinW can continuously provide reverse indicator leaderboards, real-time liquidation alerts, reverse profit rankings, and one-click trades. Users open the product daily not just to check prices, but to see who has built a large position today, which addresses are repeating past mistakes, and whether there are updates for the reverse signals they are following. Thus, reverse following transforms from a one-time function into a daily entry connecting on-chain hot spots, trading opportunities, and community content.

While others continue to chase the next “always right” expert, CoinW chooses to also focus on those continuously repeating errors in the market. Because in the trading world, there are no invincible generals; when a direction fails, what is truly important is not to continue believing but whether one can see changes quickly and have an alternative choice.

He goes long, you go short; he goes short, you go long.

See the signal, choose a plan, start the reverse.

The next time James Wynn, Machi Big Brother, or another well-known address piles up again, you will be facing more than just a piece of news to spectate.

You can also ask: What would happen if you stood on the other side?

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