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    James Wynn Initiates a 25x Long Position on ETH as Price Exceeds $4,860

    Ethan CarterBy No Comments2 Mins Read
    1755937356

    James Wynn, a crypto trader recognized for his high-leverage crypto trades, has initiated a significant leveraged position on Ether, launching a 25x long as ETH climbs to new heights above $4,860.

    As per onchain data, Wynn invested approximately $5,568 in margin to control a 29.3 Ether (ETH) position valued at $139,215, with an average entry price of $4,239. As of now, the position reflects unrealized gains of $14,888, signifying a return exceeding 267%.

    Wynn is also maintaining a 10x Dogecoin (DOGE) long, valued at $206,130 for 867,335 DOGE. Entered at an average price of $0.2398, this trade is slightly negative, showcasing an unrealized loss of $1,886 with DOGE trading near $0.237.

    In total, Wynn’s combined leveraged exposure amounts to $345,000, with his total equity around $26,600. His margin usage is approximately 110%.

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    Wynn’s latest trades. Source: Hyperdash

    Related: This crypto trader just lost $100M, but he’s still not done

    Wynn returns to trading

    Last month, Wynn made a comeback after a short hiatus from social media, during which he deactivated his X account with a final bio update simply stating, “broke.”

    On July 15, he re-entered the market with two bold trades, including a 40x Bitcoin (BTC) long worth $19.5 million and a 10x PEPE (PEPE) long exceeding $100,000.

    Wynn gained fame when his $100 million leveraged Bitcoin position was liquidated on May 30, followed closely by an additional $25 million loss on June 5. At that time, he claimed large players intentionally targeted his liquidation levels.

    Related: EU exploring Ethereum, Solana for digital euro launch: FT

    Ether surges to a new high

    Ethereum’s native token Ether skyrocketed to a new record high on Friday, reaching $4,867 on Coinbase, marking its strongest level since November 2021. This rally was prompted by Federal Reserve Chair Jerome Powell indicating a potential interest rate cut in September, igniting renewed interest in risk assets.

    The positive environment has been supported by fresh investments into spot ETH ETFs. On Thursday, these funds saw $287.6 million in net inflows, raising their total assets under management to over $12.1 billion, rebounding from four consecutive days of outflows.