James Wynn, a crypto trader recognized for his high-leverage crypto positions, has taken a substantial leveraged stance on Ether (ETH), initiating a 25x long as ETH rises to new heights above $4,860.
As per on-chain data, Wynn utilized approximately $5,568 in margin to control a 29.3 Ether position worth $139,215, with an average entry price of $4,239. At the moment, the position reflects unrealized gains of $14,888, translating to a return of over 267%.
Wynn is also managing a 10x Dogecoin (DOGE) long, valued at $206,130 for 867,335 DOGE. Entered at an average price of $0.2398, this trade is marginally underwater, reflecting an unrealized loss of $1,886 as DOGE currently trades around $0.237.
In total, Wynn’s leveraged exposure amounts to $345,000, with his total equity around $26,600. His margin usage is approximately 110%.
Wynn’s latest trades. Source: Hyperdash
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Wynn returns to trading
Last month, Wynn made a comeback after a short hiatus from social media, during which he suspended his X account with a final bio update that simply read, “broke.”
On July 15, he re-entered the trading scene with two bold trades, including a 40x Bitcoin (BTC) long valued at $19.5 million and a 10x PEPE (PEPE) long worth over $100,000.
Wynn garnered attention when his $100 million leveraged Bitcoin position was liquidated on May 30, followed by an additional $25 million loss shortly after on June 5. At that time, he claimed that major players intentionally targeted his liquidation levels.
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Ether surges to a new high
Ethereum’s native token Ether soared to a new all-time high on Friday, reaching $4,867 on Coinbase, its highest level since November 2021. This rally followed comments from Federal Reserve Chair Jerome Powell indicating a potential interest rate cut in September, rekindling interest in risk assets.
The positive environment has been bolstered by fresh investments into spot ETH ETFs. On Thursday, these funds witnessed $287.6 million in net inflows, pushing their total assets under management past $12.1 billion. This rebound came after four consecutive days of outflows.
Corporate treasuries are also contributing to the momentum. Over the past month, companies such as BitMine, SharpLink, Bit Digital, BTCS, and GameSquare have added approximately $1.6 billion worth of ETH, bringing total corporate Ethereum reserves close to $30 billion.
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