James Wynn, a crypto businessman known for his high-leverage crypto bets, began two major leveraged positions, including a 25x long in the ether and a 10x long in Pepe.
According to Onchain DataEther’s wynn (Eth) The position of the position at 3,269 ETH, which costs approximately $ 12.12 million, with an entry price of $ 3,726.28. His KPEPE (the name for the $ Pepe-USD futures contract with Hyperliquid) has long covered a terrifying 812.16 million tokens, worth about $ 11.28 million at an average entry of $ 0.01358.
At the time of writing, Wynn was sitting at a $ 251,617 that did not realize that income from his Pepe’s position, while his ET Bet is currently dropping more than $ 62,700. The ETH trade faces the extermination of $ 3,492.8, while the degree of Pepe’s position is sitting at $ 0.012998.
Wynn enters positions after depositing 536,573 USDC (USDC) in hyperliquid, a decentralized constant exchange.
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Wynn returns to high-leverage crypto trading
Earlier this month, it seemed like Wynn lost from social media After the suffering of disaster losses. His X account, previously under the handle “Jameswynnreal,” was that -Deactivate on July 13, and his last bio update was just “broke.”
However, the cryptocurrency trader Back last weekopening two high-leverage positions. His goods include a 40x long in Bitcoin (Btc) costs more than $ 19.5 million and a 10x long in Pepe (Pepe) Memecoin costs more than $ 100,000.
Wynn first rose to fame After a $ 100 million leveraged bitcoin Bet was liquid on May 30, followed by another massive loss of $ 25 million from a second position on June 5. He claimed his extermination levels were intentionally targeted by major players in the market.
“Beautiful timing for a 40x long,” Wynn wrote in an x Post on Tuesday. “Never financially advice. But mm are out of powdered gun,” Wynn added after opening his leveraged positions.
Related: Mystery Whale opens the $ 300m that -Leveraged Bitcoin Bet: James Wynn Alt Account?
The ether short squeeze is intensifying
Wynn’s bold stakes in Eth come as the token falls in July, triggering one of the largest short chillers In the history of crypto, according to the Kobeissi letter. ETH gained 20% a week and added more than $ 150 billion to its market cap from July 1st.
With the ETH/USD approaching $ 3,700 and looking at 2025 highs, analysts expect $ 4,000 to come soon. Kobeissi estimates that another 10% price gain can be able to do an additional $ 1 billion in short positions, especially if many have been in -zevers.
Meanwhile, the dominance in the Bitcoin market has dropped to 61.4%, the lowest since March, as entrepreneurs revolve around altcoins such as ETH and XRP.
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