James Wynn opens 25x ETH as long as the price exceeds $4,860

    Crypto AI Updates04 mins


    James Wynn, a crypto trader known for his highly leveraged crypto bets, has entered a massively leveraged position in the ether, opening up 25 times the length as long as ETH pushes to a fresh high above $4,860.

    According to Onchain data, Wynn rolled out a margin of about $5,568 to control the location of the 29.3 Ether (ETH) at $139,215, with an average entry price of $4,239. At the time of writing, the position represents an unrealized profit of $14,888, representing a return of over 267%.

    Wynn is also running a 10x Dogecoin (Doge), worth $206,130 at 867,335 Doge. Entered at an average price of $0.2398, the deal is slightly underwater, with Doge currently close to $0.237 showing an unrealized loss of $1,886.

    Overall, Wynn’s leveraged exposure combines $345,000 with his total stock of around $26,600. His margin usage is about 110%.

    Wynn’s latest deal. sauce: Hyper Dash

    Related: The crypto trader has just lost $100 million, but he’s not finished yet

    Winn returns to trade

    Last month, Wynn resurfaced after a brief loss from social media. Meanwhile, he disabled the X account with a final bio-update read.

    On July 15th, he rejoined the market with two aggressive transactions, including 40x Bitcoin (BTC), worth $19.5 million, and 10x Pepe (Pepe) with longer Pepe (Pepe) over $100,000.

    Winn earned notoriety when his $100 million leveraged Bitcoin position was liquidated on May 30th and a further $25 million loss continued on June 5th. At the time, he claimed that large players were intentionally targeting liquidation levels.

    Related: EU explores Solana’s Ethereum for Digital Euro launch

    Ether surges to new highs

    Ethereum’s native token ether surged to a new record on Friday, reaching $4,867 at Coinbase, the strongest level since November 2021. The rally sparked a renewed appetite for risk assets in September when Federal Reserve Chairman Jerome Powell showed potential for interest rate cuts in September.

    The bullish background is reinforced by a fresh influx into the spot ETH ETF. On Thursday, the fund recorded a net inflow of $287.6 million, raising its managed collective assets to more than $12.1 billion. The rebound continued to be leaked for four consecutive days.