James Wynn unlocks 25x ETH when he raises over $4,860.
James Wynn, a crypto trader known for his high-performance crypto bets, entered a large leveraged position on Ether (ETH), opening 25x until ETH pushed to a new high above $4,860.
According to Onchain data, Win deployed around $5,568 in margin to control a 29.3 Ether space valued at $139,215, with an average entry price of $4,239. At the time of writing, the position is showing an unrealized profit of $14,888, representing a return of over 267%.
Wynn is also running 10x Dogecoin (DOGE) long, worth $206.130 for 867,335 DOGE. The trade, which entered at an average of $0.2398, is a little under water, showing an undisclosed loss of $1,886 as DOGE is currently trading near $0.237.
In total, Wynn's combined exposure is $345,000, with total equity of around $26,600. Its marginal utilization is set at around 110%.
Related: This Crypto Trader Lost $100M But He's Not Done Yet
Wynn is back in business
Last month, Winn resurfaced after a brief absence from social media, this time deactivating his X account with his last bio update simply reading “broken.”
On July 15, he entered the market with two aggressive trades, including a 40x Bitcoin (BTC) long at $19.5 million and a 10x PEPE (PEPE).
Wynn gained notoriety when it lost $100 million worth of bitcoin on May 30, followed by another $25 million loss a few days later on June 5. At the time, it was alleged that the big players were deliberately targeting the screening level.
Related: EU explores Ethereum, Solana for digital euro startup: FT
Ether rises to new heights
Ethereum's native token Ether rose to a new record high on Friday, hitting $4,867 on Coinbase, its strongest level since November 2021. The rally came after Federal Reserve Chairman Jerome Powell confirmed interest rate cuts in September, spurring renewed interest in risk assets.
The bullish background was bolstered by new entry into spot ETH ETFs. On Thursday, the funds reported net income of $287.6 million, pushing their collective assets under management to more than $12.1 billion. The rebound followed a four-day streak.
Corporate treasuries are also gaining momentum. Organizations including BitMine, SharpLink, Bit Digital, BTCS, and GameSquare added nearly $1.6 billion in ETH in the past month, taking the total corporate Ethereum holdings to around $30 billion.
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