James Wynn Bets Big: 25x Ether Long as Token Breaks Records

High-leverage trader James Wynn has once again captured market attention, this time with an aggressive long position in Ether. The seasoned speculator is riding Ether’s surge to new records, underscoring both the risks and rewards of extreme leverage in a market defined by volatility.

Wynn’s High-Stakes Strategy

Wynn’s latest trade reflects his trademark style, bold, oversized, and highly leveraged. He entered a 25x long on Ether at an average entry of $4,239, deploying just over $5,500 in margin. 

According to on-chain data, that exposure now controls nearly $140,000 worth of Ether, with unrealized gains approaching $15,000. The bet translates into a return of more than 260%, highlighting how small amounts of capital can balloon when leverage magnifies market moves.

Besides Ether, Wynn is also holding a 10x leveraged position in Dogecoin valued above $200,000. However, that trade is currently underwater, showing modest losses as DOGE trades slightly below his entry price. Consequently, while his Ether bet shines, his broader leveraged book remains a mixed bag.

Past Setbacks and New Momentum

This latest appearance follows a tumultuous summer for Wynn. Earlier this year, his massive $100 million long position in Bitcoin was liquidated in dramatic fashion, followed days later by another multimillion-dollar loss. Those wipeouts led him to briefly vanish from social media, leaving behind a cryptic message hinting at financial ruin.

Nevertheless, he resurfaced in the middle of July with renewed firepower, opening new positions in Bitcoin and in PEPE, which indicates that his risk appetite is still very much intact. Notably, the reemergence of Wynn is accompanied by a more favorable market environment, with risk assets, including digital assets, making a comeback.

Ether’s Rally Gains Broader Support

Ether crossing the $4,860 mark, its highest point since 2021, is indicative of a shift in investor sentiment. Markets were driven higher following Federal Reserve signals that a rate cut might come in September. Lower borrowing rates usually favor speculative assets, and cryptocurrencies were quick to react.

Additionally, inflows into newly launched spot ETH ETFs have injected billions of dollars into the asset. In just one day, the funds attracted $287 million, lifting total assets above $12 billion. Moreover, corporate treasuries have been steadily accumulating ETH, adding nearly $1.6 billion in reserves last month alone.