A Top-leverage trader, James Wynn, has returned to the limelight in the market after executing two massive crypto trades, receiving broad international recognition. Wynn got back to trading by going 25x long on Ethereum in the middle of its upswing to new highs, but simultaneously staying long a struggling Dogecoin.
Based on on-chain tracking services, Wynn invested about $5,568 in margin to cover 29.3 Ether valued at around $139,215. His average price at entry was $4,239 per token, while Ethereum was trading around $4,719 in recent trading sessions. The risky position had paper gains of $14,888, representing an estimated 267 percent gain in a relatively short period.
Wynn also opened a 10x leveraged Dogecoin long valued at $206,130, accounting for almost 867,335 DOGE. The trade, however, went against him as prices remained around $0.237, lower than his average entry at $0.2398. His account registered an unrealized loss of almost $1,886 in that position.
Ethereum Surges To New Historic Market High
Overall, Wynn has leveraged exposure totaling $345,000 using available equity of approximately $26,600. Market analysts noted that his margin utilization stands at nearly 110 percent, therefore highlighting the high-risk profile that characterizes his trading approach.
Wynn returned weeks after disappearing from social media, where he had shut down his X profile following huge losses. He dramatically resurfaced on July 15 in the form of a 40x Bitcoin long worth $19.5 million alongside a 10x PEPE trade worth over $100,000.
The trader came to prominence for the first time after a massive $100 million Bitcoin liquidation on May 30 was subsequently followed by another loss worth $25 million on June 5. He has been insisting ever since that powerful market participants intentionally took prices to his levels of liquidation during very volatile sessions.
Ethereum, however, holds firm, hitting an all-time high on Coinbase at $4,867, the highest it has been in over a year, since November 2021. The rally followed signs by Federal Reserve Chairman Jerome Powell of likely September interest-rate cuts that fueled demand for risk assets globally.
Moreover, spot ETH ETFs registered Thursday inflows worth $287.6 million, bringing total assets to $12.1 billion. Corporate Treasuries, including BitMine, SharpLink, Bit Digital, BTCS, and GameSquare, added a total of $1.6 billion worth of Ethereum reserves, bringing total corporate holdings to approximately $30 billion.
