James Wynn, a well-known high-leverage crypto trader, has returned to the market in dramatic fashion, opening two bold positions on Ethereum (ETH) and PEPE, totaling over $23 million. His aggressive strategy has reignited discussion about crypto leverage trading risks and rewards as market momentum builds.
25x Long on Ethereum as Short Squeeze Accelerates
Wynn opened a 25x leveraged long position on ETH, totaling 3,269 ETH at an average entry of $3,726.28, representing an investment of approximately $12.12 million. The trade was executed on Hyperliquid, a decentralized perpetuals exchange, following a $536,000 USDC deposit.
His Ethereum long is currently down over $62,000, with a liquidation price at $3,492.80, suggesting tight risk management despite the high leverage. This move comes amid a major ETH short squeeze, with the token surging nearly 20% in July and adding over $150 billion to its market cap.
10x Long on PEPE Worth Over $11M
Simultaneously, Wynn opened a 10x long on PEPE, amounting to 812.16 million tokens valued at $11.28 million, with an average entry price of $0.01358. As of now, he holds an unrealized profit of $251,617 on this position.
The PEPE liquidation level is $0.012998, giving Wynn a slim margin to maintain exposure. His renewed interest in memecoins like PEPE signals that retail enthusiasm and volatility still drive trading opportunities in the altcoin space.
Wynn Returns After High-Profile Losses
Wynn’s reentry into high-leverage trading comes just weeks after a disappearance from social media. His previous losses included a $100 million Bitcoin liquidation and an additional $25 million loss in early June. His social media bio at the time read “broke,” adding to speculation about a complete exit from trading.
Yet, Wynn is back, tweeting confidently about market makers running out of “gun powder” and labeling his positions as timed to perfection. His bold return adds to speculation around a broader altcoin season revival as ETH pushes toward the $4,000 mark.
Market Volatility Attracts Risk-Takers
Wynn’s positions reflect renewed trader confidence as Ethereum rallies and memecoins gain traction. However, the risks of liquidation remain high. As leverage builds across the board, the crypto market could see explosive moves—both upward and downward—in the coming weeks.
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.