James Wynn, a prominent cryptocurrency trader known for his high-leverage strategy, has re-emerged in the market with significant positions on Ethereum (ETH) and Dogecoin (DOGE) as ETH reaches new heights. This resurgence follows a challenging period marked by substantial losses, reinvigorating attention around his trading activities.
Wynn Takes on High Leverage with ETH and DOGE Trades
Recent data shows that Wynn has opened a substantial 25x leveraged long position on Ethereum, using approximately $5,568 in margin to control 29.3 ETH, valued at $139,215. His average entry price stands at $4,239 per token, and as of now, the position is showing unrealized gains of about $14,888, achieving a return of over 267%.
In addition, Wynn has established a 10x leveraged position in Dogecoin, valued at $206,130, covering 867,335 DOGE with an average entry price of $0.2398. Currently, with DOGE trading close to $0.237, this position is slightly underwater, reflecting an unrealized loss of $1,886.
In total, Wynn’s leveraged exposure amounts to approximately $345,000, with his equity around $26,600. His margin utilization is estimated at 110%, underscoring the risky nature of his trading style.
A Comeback After Previous Setbacks
These latest trades mark Wynn’s return to the trading arena following a turbulent period earlier this year. In late May, he faced a liquidation of a $100 million position in Bitcoin, followed by another loss of $25 million in early June. At the time, he claimed that major market players intentionally targeted his liquidation levels.
After these setbacks, Wynn briefly stepped back from the spotlight, updating his social media bio to read “broke” before disappearing from public view. However, he made a comeback on July 15, re-entering the market with a 40x leveraged long position in Bitcoin worth $19.5 million and a 10x position in PEPE valued over $100,000.
These transactions highlight Wynn’s ongoing appetite for risk and reliance on leverage, even after experiencing significant financial setbacks. His trading activities continue to attract attention from retail traders and industry analysts closely monitoring his high-stakes bets.
Ethereum Surges to New Heights Amid ETF Inflows
Wynn’s latest moves coincide with a remarkable resurgence of Ethereum, which surged to $4,867 on Coinbase—its highest level since November 2021. This rally has been bolstered by dovish signals from the U.S. Federal Reserve.
Chair Jerome Powell hinted at a potential interest rate cut in September, thereby fueling investor appetite for riskier assets, including cryptocurrencies. The influx into spot ETH ETFs has also continued to grow.
On Thursday, these funds saw net inflows of $287.6 million, raising their combined assets under management to over $12.1 billion. This rebound follows four consecutive days of capital outflows, signaling a resurgence of institutional confidence in Ethereum.
Corporate treasuries are expanding their holdings of ETH as well. Over the past month, firms such as BitMine, SharpLink, Bit Digital, BTCS, and GameSquare collectively added around $1.6 billion worth of Ethereum, bringing total corporate holdings near $30 billion, further supporting the ongoing rebound.
Meet William, a proud Bethel University alumnus with a fervent passion for lifestyle and culture topics. His keen interest doesn’t stop there; he’s also deeply engrossed in current events of all kinds. William dedicates himself wholeheartedly to this site, thriving on the collaborative energy he shares with Suzanne, his long-standing partner in crime.
Having navigated their university courses side by side for years, their teamwork on the site is nothing short of dynamic. Together, they bring a unique blend of insights, proving that two heads are indeed better than one in delivering compelling content.
