Crypto trader James Wynn, known for his large bets in the cryptocurrency world, has returned to trading and opened two new positions on ETH and PEPE.
Wynn's New Positions
James Wynn has opened a 25x long position on Ether (ETH), amounting to 3,269 ETH, valued at about $12.12 million with an entry price of $3,726.28. He has also opened a 10x long on PEPE, spanning 812.16 million tokens, worth approximately $11.28 million at an average entry of $0.01358.
Return to High-Leverage Trading
After suffering significant losses earlier this month, Wynn temporarily disappeared from social media but has returned to trading with high-risk positions on Bitcoin and PEPE. He previously experienced liquidation of over $100 million, leading to a brief withdrawal from trading.
Overview of ETH
Wynn's bet on ETH comes at a time when the cryptocurrency is experiencing strong growth, leading to one of the largest short squeezes in history, as reported by The Kobeissi Letter. ETH has gained 20% in a week, adding over $150 billion to its market cap since the beginning of July.
James Wynn re-enters the market with high-stakes bets, showcasing an interesting turn in his trading strategy. His new positions on ETH and PEPE attract attention amid current market trends.
