High-Stakes Crypto Gambler Bets Big Again: Is This a Genius Move or Just Another Roll of the Dice? 🤷‍♂️💰

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In the wild and wacky world of cryptocurrency, where every day feels like a scene from The Wolf of Wall Street, we have a familiar face making some bold moves. Meet James Wynn, the crypto trader who’s either a genius or just incredibly brave—or perhaps both. This time around, he’s opened two major leveraged positions: a 25x long on Ether (ETH) and a 10x long on PEPE, the beloved memecoin. 😂

According to onchain data, Wynn’s ETH position is a whopping 3,269 ETH, valued at about $12.12 million, with an entry price of $3,726.28. That’s like buying a small country, but in digital form. His kPEPE (the name for the $PEPE-USD futures contract on Hyperliquid) long is even more staggering, spanning 812.16 million tokens, worth roughly $11.28 million at an average entry of $0.01358. It’s like he’s trying to corner the market on internet jokes. 🤣

As of now, Wynn is sitting on a $251,617 unrealized profit from his PEPE position, which is a bit like finding a gold coin in your cereal box. However, his ETH bet is currently down over $62,700, which is more like losing a gold coin in a black hole. The ETH trade faces liquidation at $3,492.8, while the PEPE position’s liquidation level is set at $0.012998. So, it’s a bit of a rollercoaster ride, isn’t it?

To fund these daring maneuvers, Wynn deposited 536,573 USDC (USDC) into Hyperliquid, a decentralized perpetuals exchange. It’s like putting all your eggs in one very, very volatile basket. 🪑💥

Wynn Returns to High-Leverage Crypto Trading

Earlier this month, Wynn seemed to vanish into thin air after suffering catastrophic losses. His X account, previously under the handle “JamesWynnReal,” was deactivated on July 13, and his last bio update simply read “broke.” It’s like he went from being a crypto king to a digital pauper overnight. 💸😢

But fear not, for the trader has returned with a vengeance, opening two new high-leverage positions. His trades include a 40x long on Bitcoin (BTC) worth over $19.5 million and a 10x long on PEPE (PEPE) memecoin valued at more than $100,000. It’s like he’s trying to prove that you can’t keep a good gambler down. 🎲🔥

Wynn first gained notoriety after a $100 million leveraged Bitcoin bet was liquidated on May 30, followed by another massive loss of $25 million from a second position on June 5. He claimed his liquidation levels were being deliberately targeted by major players in the market, which sounds a bit like blaming the dealer when you lose at blackjack. 🤷‍♂️

“Beautiful timing for a 40x long,” wrote Wynn in an X post on Tuesday. “Never financial advice of course. But the MM’s are out of gun powder,” he added after opening his leveraged positions. It’s like he’s telling everyone to follow him, but also warning them to stay back. 🤔

Ether Short Squeeze Intensifies

Wynn’s bold bet on ETH comes at a time when the token has been surging in July, triggering one of the largest short squeezes in crypto history, according to The Kobeissi Letter. ETH has gained 20% in a week and added over $150 billion to its market cap since July 1. It’s like the token is on steroids, but without the side effects. 💪

With ETH/USD approaching $3,700 and eyeing its 2025 highs, analysts expect $4,000 to be just around the corner. Kobeissi estimates that another 10% price gain could liquidate an additional $1 billion in short positions, particularly as many are leveraged. It’s a game of cat and mouse, but with a lot more zeros involved. 🐱🐭

Meanwhile, Bitcoin’s market dominance has dropped to 61.4%, the lowest since March, as traders rotate into altcoins like ETH and XRP. It’s like the king is stepping down to make room for the next big thing. 🏰👑

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2025-07-20 16:11