High-profile crypto trader James Wynn is back in the headlines with another high-risk move—opening a 25x leveraged long on Ethereum (ETH) as the second-largest cryptocurrency soared to fresh highs. While his Ether bet is paying off handsomely, his parallel Dogecoin trade is struggling in the red.
Massive 25x Leverage on Ethereum
According to on-chain data, Wynn deployed around $5,568 in margin to control a 29.3 ETH position worth $139,215, with an average entry price of $4,239. With ETH currently trading near $4,860, his position shows unrealized gains of $14,888—a staggering 267% return on margin.
This move comes as Ethereum hit a new record high of $4,867, its strongest level since November 2021. Wynn’s aggressive bet signals confidence in ETH’s bullish trajectory, even as spot ETH ETFs attract massive inflows.
Dogecoin Bet Still Underwater
Alongside the ETH long, Wynn opened a 10x leveraged Dogecoin position, valued at $206,130 for 867,335 DOGE. Entered at an average price of $0.2398, the trade is slightly in the red, showing an unrealized loss of $1,886 as DOGE trades near $0.237.
Despite these contrasting outcomes, Wynn’s total leveraged exposure stands at $345,000, with total equity around $26,600. His margin usage sits at roughly 110%, leaving little room for error in this high-stakes game.
Wynn’s return to aggressive trading follows a turbulent period. In May, his $100 million Bitcoin position was liquidated, followed by a $25 million loss in early June. After briefly deactivating his social media accounts—leaving a cryptic bio reading “broke”—Wynn resurfaced in July with bold moves, including a 40x Bitcoin long worth $19.5M and a 10x PEPE position.
His comeback strategy remains the same: high leverage, high risk, and big exposure.
Ethereum Rally Backed by ETFs and Corporate Demand
Ether’s surge isn’t just retail-driven. Spot ETH ETFs recorded $287.6 million in net inflows on Thursday, bringing their total AUM to over $12.1 billion after four consecutive days of outflows.
Corporate adoption is also accelerating. In the past month, companies like BitMine, SharpLink, Bit Digital, BTCS, and GameSquare collectively added $1.6 billion worth of ETH to their reserves. Corporate Ethereum holdings now stand near $30 billion, reinforcing institutional confidence in the asset.
The broader crypto market remains bullish, fueled by Federal Reserve signals of a possible rate cut in September, which has spurred risk-on sentiment across digital assets.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.