James Wynn, a crypto trader notorious for his extreme leverage, has returned to the spotlight with a new 25x long on Ether (ETH) showing strong gains, even as a parallel Dogecoin (DOGE) bet struggles.
Onchain data shows Wynn deployed roughly $5,568 in margin to control 29.3 ETH valued at $139,215, with an average entry price of $4,239. With ETH rallying above $4,860, the position was sitting on unrealized gains of $14,888 — a 267% return.
In contrast, Wynn’s 10x long on DOGE, worth $206,130 for 867,335 tokens, is slightly in the red. Entered at $0.2398, the trade showed an unrealized loss of about $1,886 with DOGE near $0.237.
Overall, Wynn’s leveraged exposure totals $345,000, backed by equity of roughly $26,600 and margin usage at 110%.
The trader, who vanished from social media earlier this summer after declaring himself “broke,” re-emerged in July with risky bets including a 40x Bitcoin (BTC) long worth $19.5 million and a 10x PEPE long over $100,000. His reputation stems from a $100 million Bitcoin liquidation in May followed by a $25 million loss in June, which he blamed on “whales” targeting his positions.
The timing of Wynn’s ETH long coincides with Ethereum surging to $4,867 on Coinbase, its strongest level since November 2021, after Federal Reserve Chair Jerome Powell hinted at a September rate cut. Spot ETH ETFs also recorded $287.6 million in inflows on Thursday, boosting their assets under management to $12.1 billion after four days of outflows.
