High-Stakes Moves: James Wynn’s Latest Crypto Bets
James Wynn, known for his high-leverage crypto trading, has made headlines again with significant positions on Ether (ETH) and PEPE. After depositing $536,000 in USDC into Hyperliquid, Wynn opened trades worth over $23 million, demonstrating his high-risk, high-reward strategy.
Trade Details
Wynn’s ETH position is a 25x long on 3,269 ETH, valued at $12.12 million with an entry price of $3,726.28. His PEPE position is a 10x long on 812.16 million tokens, worth $11.28 million at $0.01358 per token. Currently, Wynn has a $251,617 unrealized profit on PEPE but faces a $62,700 loss on ETH.
Recent Trading History
Earlier this year, Wynn suffered major losses, prompting a temporary social media hiatus. He returned last week with aggressive trades, including a 40x long on Bitcoin and additional PEPE exposure. Wynn has previously alleged that market players targeted his liquidation levels.
Market Impact
Wynn’s trades coincide with ETH’s strong rally, potentially triggering one of crypto’s largest short squeezes. As ETH approaches $4,000, analysts warn further gains could liquidate $1 billion in short positions. Meanwhile, Bitcoin’s market dominance has fallen to 61.4%, its lowest since March, as capital flows into altcoins like ETH and XRP.
Key Points
- James Wynn placed $23 million in leveraged trades on ETH and PEPE
- ETH position could liquidate at $3,492.80; PEPE at $0.012998
- ETH’s 20% July surge may force more short liquidations
- Bitcoin dominance declines as altcoins gain traction
