- James Wynn initiates a 25x long position on ETH and a 10x long on DOGE, totaling $345K in leveraged investments.
- Ether prices climb to $4,867, driven by ETF investments of $287.6M and increasing corporate reserves.
- Wynn makes a comeback after suffering a $100M loss on BTC, regaining attention through high-leverage trading.
James Wynn, a prominent crypto trader recognized for his aggressive leverage strategies, has returned to the market with audacious new positions in Ethereum (ETH) and Dogecoin (DOGE).
His recent trades coincide with Ethereum reaching new heights, spurred by positive sentiment surrounding US monetary policy and a resurgence in demand for spot exchange-traded funds (ETFs).
Wynn initiates a 25x long on Ether and a 10x long on Dogecoin
Onchain data indicates that Wynn has entered a significant 25x leveraged long on Ether, utilizing approximately $5,568 in margin to manage 29.3 ETH, valued at $139,215.
His average entry price is recorded at $4,239 per token. As of now, the position has unrealized gains of approximately $14,888, translating to a return exceeding 267%.
Wynn has also secured a 10x leveraged position in Dogecoin. This trade, valued at $206,130, encompasses 867,335 DOGE at an average entry price of $0.2398.
Currently, with DOGE nearing $0.237, the position is slightly negative, reflecting an unrealized loss of $1,886.
In total, Wynn’s leveraged exposure approximates $345,000, while his equity hovers around $26,600.
His margin use is projected at 110%, highlighting the high-risk characteristics of his trading approach.
A return to prominence post prior liquidations
Wynn’s latest trades signify his comeback to trading after a tumultuous episode earlier this year.
In late May, he faced a $100 million liquidation on a leveraged Bitcoin position, followed by an additional loss of $25 million in early June.
Wynn asserted that major market players had intentionally targeted his liquidation thresholds during that time.
Following these challenges, he temporarily suspended his social media activity, updating his X account bio to read “broke” before retreating from public view.
Nevertheless, on July 15, he returned, entering a 40x leveraged Bitcoin long worth $19.5 million and a 10x position in PEPE valued at over $100,000.
These trades illustrate Wynn’s persistent inclination for risk and reliance on leverage, despite experiencing notable losses earlier this year.
His actions continue to attract interest from both retail traders and industry analysts who closely monitor his high-stakes ventures.
Ethereum reaches new heights amid ETF investments
Wynn’s new positions align with a significant rally in Ether, which soared to $4,867 on Coinbase on Friday — its highest mark since November 2021.
The surge is bolstered by accommodating signals from the US Federal Reserve.
Chair Jerome Powell indicated a possible interest rate cut in September, enhancing investor enthusiasm for risk assets, including cryptocurrencies.
Additional momentum has been fueled by spot ETH ETFs.
On Thursday, these funds registered $287.6 million in net inflows, raising their total assets under management to over $12.1 billion.
This rebound succeeded four consecutive days of outflows, indicating renewed institutional trust in Ethereum.
Corporate treasuries are also increasing their ETH investments.
Recently, companies like BitMine, SharpLink, Bit Digital, BTCS, and GameSquare have collectively invested around $1.6 billion in Ether.
This elevates total corporate holdings to nearly $30 billion, contributing additional support to the rally.
